Finance Bill carved out in deadline scramble

by David Jetuah

More from this author

07 Apr 2010

  • Comments

The Finance Bill has fallen victim to the battle for No 10 as the plans for the UK's tax framework going forward are rushed through before the general election.

Plans for a 50p a month broadband tax, the 10% hike on cider and the withdrawal of relief on holiday homes were all dropped in efforts to get the Bill made law before the end of the week.

The political parties have had to reach a compromise to get the legislation rubber stamped, according to the Times.

Advisers have panned the situation for downgrading the piece of legislation responsible for both the UK's tax policy, and giving HMRevenue & Customs the official ability to collect tax in 2010/2011.

"It is deeply unsatisfactory for such a lengthy Finance Bill to have so little debate in parliament," said John Whiting, the CIoT's tax policy chief.

"There will be no opportunity to review the clauses of the bill properly for technical defects prior to debate in parliament. There will be no opportunity to press ministers for clarification on most of the bill’s contents. There will be no chance to discuss how most of these detailed technical proposals will work in practice."

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

conservatoire-for-dance-and-drama

Finance-Director-part-time

Conservatoire for Dance and Drama, London, Permanent, Part Time, £60,000 pro rata

 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.