TaxPersonal TaxFinance Bill News in Brief

Finance Bill News in Brief

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.

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

4d Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

3w Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

5m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

5m Alia Shoaib, Reporter