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Finance Bill Debates

Alan Dolton Editor of Tolley's Tax Cases and Tolley's VAT Cases continues his coverage of the Finance Bill debates
The first part of the 14th sitting was covered in last week's The Tax Journal.
Introducing Clause 158 and Schedule 28 (Reporting limits and annual exempt amount) the Paymaster-General observed that:
'The clause cuts red tape. Few of those liable to pay capital gains tax will need to fill in the capital gains tax pages of the tax return. The clause will lead to a 15% cut in the number of those with no tax liability who need to fill in the capital gains tax pages. The main beneficiaries are likely to be taxpayers who do not employ professional advisers to complete their tax forms.'

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