GEORGE OSBORNE has seen his fiscal strategy “completely derailed”, according to shadow chancellor Ed Balls.
The chancellor has presided over a “flatlining” UK economy since 2010, ensuring the recovery following the “worst recession since World War II” has been the “slowest in 100 years”, he said.
Balls (pictured) criticised Osborne for borrowing more “this year, next year and the year after” and not meeting his promise to balance the country’s books by 2015.
He added national debt would be higher by the end of this parliament and branded the statement “a wasted opportunity”.
Balls complained about a tax cut for the rich while the poor are suffering.
Reeves & Co tax partner Geraint Jones said: “It was surprising that tax cuts were given to higher and additional rate payers, but it should be borne in mind that government figures indicate that from 2014, there will be a real increase in the level of tax paid by additional rate and higher rate taxpayers.”
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