Tax Planning

Labour has been defeated in its efforts to block controversial plans to freeze age-related income tax allowances for pensioners.

Deputy Prime Minister Nick Clegg has given the clearest indication yet the government will be forced to backtrack on its plans to cap tax-free charitable giving.

National Savings & Investments (NS&I) has announced it "does not expect" to reintroduce its popular Index-linked Savings Certificates in the current financial year.

The government's "loose" monetary policy of quantitative easing (QE) and low interest rates is diminshing retirees' income, a report by MPs concludes.

The government is increasing the pressure on HMRC to crack down on tax evasion by upping its revenue targets.

Downing Street has said the government will launch a formal consultation in the summer over its plans to limit the tax relief on charitable donations.

A MESS

Almost one in ten people earning over £10m per year pays less than the 20% basic rate of income tax, according to Treasury figures.

AVOIDANCE?

The Prime Minister is set to publish details of his tax return as controversy over whether senior politicians contribute a fair amount of tax.