DEPUTY PRIME MINISTER Nick Clegg insisted on Sunday that he would continue to back a “wealth tax” ahead of his party’s annual conference in Brighton this week.
Speaking to the BBC’s Andrew Marr Show, the Liberal Democrat leader said he would not agree to more spending cuts unless the Conservatives agreed to some form of tax on the rich.
Clegg admitted that “so far I have failed” to persuade prime minister David Cameron and chancellor George Osborne to accept his arguments for a mansion tax that would levy a 1% charge on properties above a threshold of £2m.
“But the mansion tax is not the only way in which you can make people at the top make a fair contribution to this huge national effort of balancing the books,” Clegg said.
“We have already illustrated through capital gains tax, through stamp duty, through tax avoidance and many other measures … the top 10% pay more and we can do more of that.”
In an interview with the Mail on Sunday, chief secretary to the Treasury Danny Alexander announced an extra 100 officials will join HMRC’s Affluence Unit, set up to combat tax avoidance by people with assets worth more than £2.5m. The unit’s remit will also be expanded to encompass people with assets worth more than £1m.
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
Let us hope that valuable asset protection vehicles are not made prohibitively burdensome or abolished in the desire to “simplify” IHT
The government is pressing ahead with changes to the way it taxes individuals with a foreign domicile
I will feel slightly awkward when I write to the client who is about to receive a large invoice from the PAYE expert, offering him the fee protection going forward