TaxCorporate TaxFinance Bill carved out in deadline scramble

Finance Bill carved out in deadline scramble

Broadband tax, 10% hike on cider and the withdrawal of relief on holiday homes all dropped

The Finance Bill has fallen victim to the battle for No 10 as the plans for
the UK’s tax framework going forward are rushed through before the general
election.

Plans for a 50p a month broadband tax, the 10% hike on cider and the
withdrawal of relief on holiday homes were all dropped in efforts to get the
Bill made law before the end of the week.

The political parties have had to reach a compromise to get the legislation
rubber stamped,
according
to the Times.

Advisers
have panned the situation for downgrading the piece of legislation responsible
for both the UK’s tax policy, and giving HMRevenue & Customs the official
ability to collect tax in 2010/2011.

“It is deeply unsatisfactory for such a lengthy Finance Bill to have so
little debate in parliament,” said John Whiting, the CIoT’s tax policy chief.

“There will be no opportunity to review the clauses of the bill properly for
technical defects prior to debate in parliament. There will be no opportunity to
press ministers for clarification on most of the bill’s contents. There will be
no chance to discuss how most of these detailed technical proposals will work in
practice.”

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