Yesterday’s Budget raised a few eyebrows with the overall message from the
national papers claiming the chancellor delivered an election budget with a
Financial Times felt Alistair Darling ducked the deficit challenge and
turned the “screw” at the rich and the banks.
The FT believed Darling left many questions unanswered in particular how the
current government planned to cut spending.
Times claimed Alistair Darling raided the rich with Tory ideas and that the
chancellor delivered a no-frills financial statement.
Guardian focused on the changes to stamp duty tax which saw first time
buyers exempt from the levy on properties worth £250,000 or less. The
publication claimed the Labour party had drawn the political dividing lines with
the Tories from this change.
The publication also highlighted the chancellor’s announcement to freeze
inheritance tax, landing thousands of families across the country with death
Darling said the move would be paid for by a 5% mansion tax on properties
sales in excess of £1m.
The focus for most papers included the confirmation that the deficit had
fallen from £178bn to £167bn thanks to better than expected tax revenues.
However the biggest cheer from the papers was the announcement Britain was
geared up to sign an information sharing tax deal with Belize, where Lord
Ashcroft has investments.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...