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International: Finance Bill warning

International: Finance Bill warning

The Chancellor was urged to avoid rushing substantial tax changes through Parliament in the run-up to the general election. It would be a mistake to repeat the Finance Bill 2005 process which was 'not a happy precedent ' Andrew Hubbard President of the CIOT said in a letter to Alistair Darling. Derek Allen Tax Director at the Institute of Chartered Accountants of Scotland said: 'Fundamental changes to the tax system and especially any changes involving additional complexity ought to be avoided during the run-up to a general election as they should always be the subject of open consultation and thorough debate.'

Many of the Budget 2010 business tax proposals were earmarked for a Finance Bill 'to be introduced as soon as possible in the next Parliament'.

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