Lord Jones, the trade and investment minister, was the first minister to
break government ranks yesterday when he warned chancellor Alistair Darling
would face ‘unintended consequences’ of his
capital gains tax
(CGT) reforms unless he offered significant concessions to business.
Other ministers have voiced concern in private but insisted in public they
support the pre-budget report decision to scrap taper relief and the 10% CGT
rate, Financial Times reports.
Lord Jones backed the business call for substantive changes, saying he hoped
‘whatever is announced – and I’ve no idea what’s going to be announced – I hope
they’ve listened to the things that need to be consulted on’.
The minister suggested the Treasury had failed to appreciate the full impact
of the proposed move to a single 18% CGT rate on entrepreneurs.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
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
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed