Spring Statement 2019: The government has announced a call for evidence on insurance premium tax (IPT), in addition to a series of other consultations and responses published in alignment with the Spring Statement 2019.
Chancellor Philip Hammond (pictured) outlined the tax-related consultations and published government responses in his annual Spring Statement address today (Wednesday 13 March 2019) at the House of Commons.
Hammond first confirmed an operational review of IPT, setting out a call for evidence on where improvements could be made to ensure that IPT is fair and efficient.
He also outlined the draft regulations for the national insurance contributions (NICs) employment allowance. This invites technical comments on the draft regulations designed to implement the reform, which was originally announced during the Autumn Budget 2018 presentation. The reform proposes that access to the employment allowance will be restricted to employers with an NICs bill below £100,000 in the previous tax year, effective from April 2020.
Hammond further announced the publication of a government response to the Worldwide harmonised light vehicles test procedure (WLTP) and vehicle taxes review. This explored the impact of the WLTP on the vehicle excise duty and company car tax.