Tax Planning

Cabinet minister Ken Clarke has backtracked after suggesting a tax break promised to married couples would not be implemented.

Almost a third of the UK 'tax gap' - the difference between what is owed to Her Majesty's Revenue & Customs (HMRC) and what is collected - is due to tax avoidance or evasion, according to the latest estimates.

Accountancy and advisory group RSM Tenon is facing legal action relating to its decision to shut its specialist tax business earlier this year.

EBTs

The London mayor Boris Johnson said yesterday that he wanted to cut the top tax rate further, from 45p to 40p in the pound.

The Conservative government will not introduce a 'wealth' or 'mansion' tax on the rich, but will step up its pursuit of those who are not paying the taxes they should, Chancellor George Osborne said today.

FIVE THINGS

BENEFITS AND TAX RATES

The Prime Minister David Cameron and Chancellor George Osborne have ruled out introducing a wealth tax on high earners or an annual levy on expensive properties - two proposals central to the Liberal Democrats' plans.

Celebrities including Weakest Link presenter Anne Robinson and members of Take That have been exposed as participants in a £1.2bn tax avoidance scheme, according to reports.