mortgage borrowers will be eligible for tax breaks as part of a package of
reforms by George W Bush.
In the US, borrowers were liable for tax on mortage debts that are written
off when they default, but the American administration has said that this burden
will be removed.
The advantages will only apply to a small proportion of the poorest
households, but concerns have been raised in some quarters that the moves will
reward people for defaulting on loans.
Speaking to an audience of bankers in Wyoming, Ben Bernanke, chairman of the
US Federal Reserve said: ‘It is not the responsibility of the Fed – nor would it
be appropriate – to protect lenders from the consequences of their financial
"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