Shadow chancellor Vincent Cable claimed the move would save £8.2bn over the next five years, largely by scaling back subsidies to industry. The plans raise the possibility that the Financial Reporting Council would switch Whitehall departments and come under the chancellor’s control instead of the trade secretary.
Cable aims to save a total of between £5bn and £25bn a year through measures including scrapping Gordon Brown’s Child Trust Fund, and slashing defence expenditure and farm subsidies. His aim is to fund £21bn in spending commitments, including higher pensions for over 75s and smaller classes for younger children. Cable said the DTI did fund useful projects such as ‘blue skies’ science research.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay