Married couples could receive a £20 tax break a week under suggestions from a
Conservative policy team.
If one member of the couple stays at home to look after children they could
be in line to receive the £20 tax break, suggests the policy team led by Iain
Duncan-Smith said the current regime does not reward married couples for
staying together, claiming that marriage breakdown costs the UK £102bn a year.
Tory leader David Cameron renewed his pledge to make radical reforms in
personal taxation in favour of families and married couples.
Commenting ahead of today’s publication of Breakthrough Britain on
ways of addressing social and family breakdown, he said the number one priority
for a Conservative government would be repairing the damage with ‘long-term
generational change’ to support families.
He said he was keen to adopt changes to taxes and benefits in favour of those
who are married, claiming the existing structure ‘encourages families to break
up’ and “encourages couples to separate.
He said marriage ‘should be recognised in the tax system’ and welfare
benefits that encourage couples to break up should be challenged.
Meanwhile Liberal Democrat leader Sir Menzies Campbell will on Thursday spell
out his party’s plans to reduce the burden of taxation on low and middle income
earners while tackling environmental damage and maintaining fiscal discipline.
Cabinet Office minister Ed Miliband said the government would not
‘discriminate against some children’ in its tax policy, reported the BBC.
‘I don’t think it’s right for politicians to come on and preach,’ he added.
Taxman lines up early exit from doomed Concentrix tax credits deal, as HMRC faces intense scrutiny from MPs
"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
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