Worries over gift inquiries
The Treasury has brushed aside a warning from the English ICA over a new statutory requirement for personal representatives to disclose lifetime gifts to the tax authorities. The Tory MP John Whittingdale said there was concern over having to make the ‘fullest inquiries’ to establish what gifts had been made in the seven years prior to death.
PwC tipping concerns The Treasury is claiming fears expressed in a report from PricewaterhouseCoopers, that the landfill tax would cause more fly tipping, have been proved wrong. Financial secretary Barbara Roche denied this year’s increase from £7 to £10 per tonne would worsen the risk, citing the Environment Agency for England and Wales and the Scottish Environment Protection Agency.
Insurance tax fears Paymaster General Dawn Primarolo has heightened fears that insurance tax is ripe for further increases – despite insisting the Budget increase from 4% to 5% ‘does not signal a future change’. Primarolo denied a ‘wicked plot’ to harmonise rates across Europe – but pointed out rates on the Continent ‘are significantly higher than in the UK’. Tory MPs pointed out that, in opposition, former chief secretary Alistair Darling labelled the levy as a tax on victims and warned that the then Tory government would increase it.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy