The Treasury will have to reveal the details of the forecasts behind Gordon
Brown’s move in 1997 to tax pensions, and explain how the government expected it
to affect retirement funds.
The Daily Telegraph reports that following a freedom of inforamtion
request, the Information Commissioner asked the government why it has withdrawn
the tax credit on dividends. The request centres on how this move impacted the
dividends collected by pension funds.
Until now the Treasury has refused to release the information on the grounds
that it related to the development of government policy and would undermine the
way policy decisions were taken.
Shadow chancellor George Osborne said: ‘Now Gordon Brown will be forced to
tell us the truth behind his £5bn pension tax raid, and whether he knew the
damage he was going to cause to pensions.’
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals