Tax Planning

The pick of this week's articles on IFAonline.co.uk...

Chancellor George Osborne has done a U-turn on plans to cap tax relief on charitable donations.

The Chancellor will not press ahead with the so-called 'pasty tax' after agreeing the plans were too complex and burdensome to business, according to reports.

Andrew Tyrie, the chairman of the Treasury Select Committee, has asked George Osborne to respond to suggestions from Barclays that retrospective tax action taken against the bank earlier this year was "unwarranted".

The government has launched an online tax calculator enabling people to work out how much tax they have paid and how it is spent.

CYNICAL MONEY

TAX PLANNING

The UK should introduce a single income tax of 30% as part of a radical reform of the taxation system designed to boost economic growth, an influential committee has said.

Accountants and advisers RSM Tenon said it will not offer any new tax efficient products through its Specialist Tax Service following the government's anti-avoidance crackdown in the most recent Budget.

SOAPBOX