Revenue & Customs Brief No 25/08
1st May 2008
This Brief describes the extension of non-statutory clearances service for HMRC business customers (see here for a post about this).
Here is some background:
At Budget 2006, the Chancellor of the Exchequer announced a review, led by Sir David Varney, of the relationship between large business and HMRC.
The review team consulted with over 140 large businesses and trade and representative bodies and identified four key outcomes that would benefit both large business and HMRC:
- greater certainty
- an efficient risk based approach to dealing with tax matters
- speedy resolution of issues
- clarity through effective consultation and dialogue
The ‘Review of Links with Large Business’ report published in November 2006 outlined 14 key proposals that would together deliver these outcomes.
One of the proposals related to non-statutory clearances. A non-statutory clearance is written confirmation of our view of the application of tax law to a specific transaction or event.
At Pre-Budget Report 2007, we announced an extension of the non-statutory clearances we provide to all our business customers from April 2008. Further details on the extended non-statutory clearances service that was implemented on 1 April 2008 can be found in Revenue and Customs Brief 20/08.
Today we start a trial of a further extension of the non-statutory clearances we provide to business owners in the area of inheritance tax business property relief.
Link: The Brief can be found here.
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