Tax Planning

FIVE THINGS

The Liberal Democrats are considering whether to extend their 'mansion tax' policy to cover other properties, including second homes.

Labour will re-introduce a 10p starting rate of tax if it wins the next general election, paid for by a new ‘mansion tax' on £2m properties, Ed Miliband said today.

Labour leader Ed Miliband is set to condemn the government's decision to scrap the 50p tax rate in a wide critique of the coalition's economic policies, as the political battle lines are drawn ahead of next month's Budget.

The Bank of England's Monetary Policy Committee will tolerate missing the inflation target for the next two years in order to support the UK recovery, said Bank governor Mervyn King.

VAT-ABLE?

A barrister who failed to pay more than £600,000 in value added tax (VAT) that he instead spent on luxury homes has been convicted for tax fraud.

A former Honister Partners adviser has pleaded guilty to evading tax in a case brought by Her Majesty's Revenue & Customs (HMRC).

An ex-Honister financial adviser charged with evading tax estimated at £730,000 is to appear at Worcester Crown Court next week.

TAX TALK