Grant Thornton predicts PBR measures
Extension of the 12-month stamp duty holiday is among the PBR predictions by Grant Thornton experts
Extension of the 12-month stamp duty holiday is among the PBR predictions by Grant Thornton experts
Extension of the 12-month stamp duty holiday introduced in September, more
inheritance tax for homeowners and a crackdown on those who stash away their
money in offshore accounts to evade tax, are some to the pre-budget report
forecasts from several experts at
Grant
Thornton.
Karen Campbell, Grant Thornton head of stamp taxes, said extending the stamp
duty suspension for properties worth less than £175,000 could be on the cards.
‘It would not be a major surprise if it were to become permanent,’ she said.
Grant Thornton thinks significant changes to inheritance tax are unlikely
beyond the pre-announced tax free limits of £325,000 for 2009-10 and £350,000
for 2010-11. Maurice Fitzpatrick, a senior Grant Thornton tax manager, noted the
government would be considering house prices continuing to fall in its
inheritance tax decisions.
Gary Ashford, Grant Thornton tax investigations director, said: ‘Given the
current economic outlook, the Treasury is in need of extra revenue and
encouraging people to come clean to pay tax on their offshore accounts is
looking like a very real option.’
Further reading:
Advisers await foreign profits plans in PBR
Strong odds for VAT cut in PwC PBR forecast
The numbers you crunch tell a story. Your expertis...
15yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...
View articleUHY Hacker Young and audit engagement partner Martin Jones face fines of more than £300,00 following Laura Ashley audit breaches. Read More...
View articleIt is hard to argue that the Taxes Management Act 1970 (TMA), wouldn’t benefit from some substantial updating. It came into force back in the mists of...
View articleMorton became Tax Director of the Office of Tax Simplification, an independent office of HM Treasury, in 2017 Read More...
View articleThe Low Income Tax Reform Group believes the government should have included tax initiatives in its plans for disabled people and employment Read More...
View articleThe Upper Tribunal has rejected an appeal from HMRC in a case relating to the taxation of termination payments made to football player employees of To...
View articleThe revised guidance sets out the circumstances under which trustees need to disclose the identities of beneficiaries to HMRC Read More...
View articleAlthough the concept of a £1,000 tax-free allowance sounds very simple, there are a number of complexities of which taxpayers and advisers need to be ...
View article