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Also tax avoiders will not be able to claim as a defence against penalties that relying on non-independent tax advice is taking reasonable care.

The single fiscal event and new timetable to bring forward tax changes so they are legislated for before the start of the tax year will be beneficial to tax stakeholders. Making the transition to the new timetable will require adjustments to the normal tax policy making process due to the shorter interval between the two Budgets. Arrangements will be decided individually for different policies and set out to stakeholders by HMRC. In the normal way, these will where possible provide for consultation on policy proposals and on draft legislation.

Since 2010 the government has put a business-led recovery at the heart of our plan, we’ve cut corporation tax from 28% to 20%, sending the message that Britain is open for business.

The checklists have been revised to put more focus on the most common errors and how these can be avoided. But there is no change to our requirements when submitting bills.

The meeting was co-chaired by Jesse Norman, Parliamentary Under Secretary of State at the Department for Business, Energy and Industrial Strategy (BEIS) and Allan Cook Chairman of Atkins. This work is being led by the MOD but is closely aligned with the work on the National Industrial Strategy which BEIS are leading.