Politics

Tax / NAO warns of ‘significant’ risk to government over Help to Buy loans

The Help to Buy scheme, designed to increase home ownership, could leave the government open to ‘significant market risk’ if prices fall, and many of those using this option could have bought a property without it, a National Audit Office (NAO) report has found

Tax / G20 finance ministers commit to digital tax policy by 2020

The G20 finance ministers have signalled their support for the OECD’s ‘two pillars’ approach to tackling global tax issues, and pledged to agree on the introduction of a digital tax by 2020

Tax / BBC to scrap free TV licences for over 75s

Over three million pensioners will lose their free TV licences from next year when the BBC takes over the funding liability and limits the benefit to those receiving pension credits

Tax / Chancellor calls for global action on digital services tax

Chancellor Philip Hammond is to use today’s meeting of G20 finance ministers and central bank governors in Fukuoka, Japan to underline the need to update global tax rules to reflect the digital world as multinationals operate crossborder and base themselves in low-tax jurisdictions 

Tax / Labour considers overhaul of stamp duty regime

The Labour party is considering plans to overhaul the current stamp duty system by phasing out the charge for purchasers and increasing capital gains tax on second property sales

Tax / France tops list for providing unlawful tax breaks using state aid

The European Commission has issued warnings about more than 380 potentially unlawful tax breaks in the last five years, with France being singled out for contravention of state aid rules, as well as low-tax jurisdictions like Ireland, Netherlands and Luxembourg

Tax / France close to launching 3% digital services tax

France is likely to introduce a digital services tax after the Senate voted heavily in favour of the government’s plans, although with an amendment that the tax should only be a temporary measure for three years

Tax / Norman replaces Stride as financial secretary to Treasury

In the latest Cabinet reshuffle, transport minister Jesse Norman has been named as financial secretary to the Treasury, as previous minister Mel Stride becomes leader of the House of Commons after the resignation of Andrea Leadsom

Tax / Mazars ordered to hand over Trump accounting records

Following a federal court ruling, Mazars US has been given seven days to provide President Donald Trump’s accounting records to a Congressional committee which is investigating his business dealings

Tax / Proposed property anti money laundering rules too weak

Loopholes in proposed legislation designed to prevent money laundering through the UK property market need to be addressed if it is to be fully effective, a joint select committee has warned

Tax / Scotland drops plan to slash air departure tax

The Scottish government has made a u-turn on plans to cut the rate of tax on air travel with the introduction of an air departure tax (ADT) in Scotland, which would replace UK wide air passenger duty (APD)

Tax / Treasury commits to keeping cash and coins

The Treasury has confirmed the government’s commitment to safeguarding cash as a method of payment, and is to launch a new group with regulators and the Bank of England to set strategy and co-ordinate work to ensure nationwide access continues

Tax / ‘Capricious’ inheritance tax regime needs urgent reform

The triple lock for the state pension should be removed, better-off workers over state pension age should pay National Insurance contributions (NICs) while they continue to work, and the ‘capricious’ inheritance tax (IHT) regime must be overhauled, says House of Lords committee

Tax / Scotland’s air departure tax plans delayed

The Scottish government has announced further delays to its flagship plans to introduce an air departure tax (ADT) in Scotland, which would replace UK wide air passenger duty (APD) and offer a 50% reduction on the UK rate, to the fury of local airport operators

Tax / US Congress moves to ban free tax filing software

US lawmakers are planning to pass a bill to prevent the Internal Revenue Service (IRS) from developing a free electronic tax filing system to help US taxpayers file digitally
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