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RICHARD CURTIS summarises the opening parliamentary debate of Finance Bill 2012
KEY POINTS
- The supposed purpose of this year’s Finance Bill.
- VAT changes cause much comment but should remove some anomalies.
- Will the lowering of the higher rate threshold reduce or increase the amount of tax collected?
- The cap on tax reliefs including charitable donations.
- Pension increases and the ‘granny tax’ freezing of personal allowances.
It’s that time of year again. Much of the proposed tax legislation was released for consultation some time ago (or so we thought) the chancellor has given his Budget speech and the Finance Bill 2012 has now been published.
One would think that with much of the Bill being published in advance there would be little in the way of contentious matters left to be discussed – but how wrong you would be; we...
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