AN EXTRA £1bn was spent on luxury private jets prior to a VAT hike.
The plane spending spree occurred in the last three months of 2010, before a zero-VAT rating on jet sales was ditched for the standards rate of 20%, reported the Guardian.
The latest statistics showed that luxury jet sales nosedived after the tax was introduced.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states