Politics

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Tax | Tax planning in Chancellor’s sights as Conservatives take majority

Commentators are predicting a continuing crackdown on aggressive tax planning as the most likely focus from a new Conservative government which pledged not to increase the rates of VAT, income tax or National Insurance contributions before it was swept to power last week with a 12-seat majority

11 May 2015

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Tax | Taxes for a purpose – can manifesto promises be trusted?

George Bull, senior tax partner at Baker Tilly takes issue with the raft of tax policies and unfunded goodies to entice voters based on last-minute tax grabs, arguing that earmarked - hypothecated - taxes like the mansion tax to fund the NHS and Libor fines to pay for apprentices do not make sense in the long-term

1 May 2015

Tax | Voters support stronger action on corporate tax avoidance, says ActionAid poll

Nine out of ten adults in marginal constituencies say tax dodging by large companies is morally wrong, according to a new ComRes poll for ActionAid, with nearly two thirds stating that political party promises to tackle tax avoidance have not gone far enough

30 Apr 2015

Tax | Conservatives to legislate for ‘triple tax lock’

As the general election campaign enters its final week Conservative leader David Cameron has reiterated his party’s commitment to a five year ‘triple tax lock’, and has said a future Conservative government would introduce legislation to ensure there would be no increase in the rate of income tax, VAT or national insurance contributions (NICs) over the term of the next parliament

29 Apr 2015

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Tax | Editor’s comment: party politicking overrides tax policy in election manifestos

With all the party manifestos published, tax policy for businesses remains vague with few parties committing to clear tax plans for the corporate sector as personal tax and IHT dominate the personal tax agenda, says Sara White

28 Apr 2015

Tax | Labour to cut stamp duty for first time buyers

Labour leader Ed Miliband is to announce plans for a future Labour government to abolish stamp duty for all first-time buyers purchasing homes worth up to £300,000 in a speech to be delivered later today

27 Apr 2015

Tax | Party manifestos lack clarity and detail on tax plans - IFS

All four main political parties are banking on bringing in more cash via tighter tax avoidance measures if elected, but voters haves been left ‘somewhat in the dark’ about their plans to cut spending and increase taxes in order to bring down the deficit, according to analysis by the Institute for Fiscal Studies (IFS)

23 Apr 2015

Tax | ICAEW manifesto calls for simplified tax and stronger governance

The ICAEW and the Forum of Private Business (FPB) have both published election manifestos, urging politicians not to overlook the needs of businesses and calling for a simplified tax regime and export incentives to encourage SMEs to expand overseas

23 Apr 2015

Tax | Plaid Cymru bids for extra £1.2bn annually for Wales

If Plaid Cymru holds the balance of power following the general election, the party has said it will demand that Wales is funded to the same level per head as Scotland and have the same taxation rights, according to the party’s manifesto

21 Apr 2015

Tax | SNP plans to raise NICs employment allowance to £6,000

Top earners will face a 50p tax rate for those earning £150,000 plus under plans outlined in the SNP manifesto launched today, while the party pledges support for small business with extension of the employment allowance to reduce employer national insurance contributions

20 Apr 2015

Image for general election 2015 tax policies manifestos and what they mean advisers

Tax | General election 2015: tax policies in the manifestos and what they mean for advisers

In the run-up to the general election on 7 May, Accountancy reviews the key tax measures announced by the political parties in their manifestos and in public speeches in the run-up to this year's election and their impact on business. Jaimie Kaffash talks to leading tax advisers about their tax wish list and realistic expectations

16 Apr 2015

Tax | UKIP plans 30% ‘intermediate’ tax rate

A future UKIP government would raise the personal tax allowance to a minimum of £13,000, introduce a new 30% intermediate income tax rate and abolish inheritance tax, according to the party’s manifesto

16 Apr 2015

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Tax | IFS warning on ‘chaos’ of cuts to high earner pensions relief

As election fever picks up and the political parties vie for votes, influential thinktank, the Institute for Fiscal Studies (IFS) suggests that Conservative and Labour proposals to cut pensions tax relief for those with an income above £150,000 risk creating ‘chaos’

13 Apr 2015

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Tax | Tax avoidance crackdown to raise £7.5bn annually, claims Labour

The Labour party’s manifesto, launched today, will include a commitment to crack down on tax avoidance, with new fines raising £7.5bn a year, while there will also be wider powers for HMRC following a review of its structure and effectiveness

13 Apr 2015

Tax | Tory pledge for IHT-free £1m homes to be funded by £150k earners

Conservative leader David Cameron has said the party will cut inheritance tax (IHT), with new property-based reforms allowing parents and grandparents to leave homes worth up to £1m tax-free to younger generations in the family, a policy mooted before the last election in 2010 but over-ruled in the coalition agreement

13 Apr 2015

Tax | Labour plans to abolish non-dom tax status

Labour leader Ed Miliband is to announce plans to abolish the non-domicile (non-dom) tax rule if his party forms the next government, claiming it is being used for tax avoidance by high net worth individuals (HNWI)

8 Apr 2015

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