Lords criticise Treasury on trust taxation

A report published today by the House of Lords Economic Affairs Committee (EAC) criticises the government over the way it has handled the anti-avoidance measures announced in the Budget. For the fourth year in a row the EAC has appointed a sub-committee to look exclusively at the Finance Bill, although it is limited to items concerning the administration, clarification or simplification of taxation proposals rather than proposed rates or taxes. The Committee selected three issues to look at in detail: Measures to counter the avoidance of direct tax Measures to counter VAT frau...