'We’re capping benefits and these figures clearly show why it’s fair to cap tax reliefs for the wealthy as well,' says Treasury
Tax relief is not a primary motive for charitable donations, say philanthropists
‘David Davis has put himself at the forefront of a growing revolt over the government's plans to limit tax relief on charitable donations. The influential Conservative backbencher said the government should rethink the plans.
Following FA 2010, exceptions to the deemed release rules are further restricted by Finance Bill 2012 with retrospective effect. David Southern analyses the background to and nature of these changes.
In this month's briefing, Helen Lethaby reviews recent developments including proposed changes to the rules on the deduction of income tax at source and the tax treatment of manufactured payments.
‘The row between charities and the government over cuts to tax relief deepened on Tuesday after Downing Street suggested that some wealthy people were abusing the system.
A union representing senior HMRC staff has questioned the government’s commitment to tackling ‘tax avoidance by big business and the wealthy’.
‘Rotten to the core’
HM Treasury has published a ‘non-exhaustive list’ of changes made to draft legislation on controlled foreign companies between the February 2012 update and the Finance Bill published on 29 March.
The Chancellor has told the Daily Telegraph that he was ‘shocked’ to see that some the UK’s wealthiest people have organised their tax affairs, within the