Tax breaks enjoyed by private equity giants are expected to be at the
forefront of Alistair Darling’s pre-Budget report.
The chancellor has brought forward his annual pre-Budget preview in a bid to
make up lost ground for the Labour Party after Gordon Brown was forced into a
humiliating U-turn on calling a surprise general election.
A withdrawal of private equity’s access to carried interest tax breaks, which
gifts them taper relief on their capital gains, may be on the cards.
After the taxman’s Arctic
systems loss, income splitting is also expected to be on the agenda.
Any major changes to the non-domiciled foreigner rules, which allow the rich
foreigners based in the UK to avoid paying tax on income generated outside the
UK, is thought to be unlikely.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...