Menu
06/04/2011
Government Tackle Tax Avoidance
David Gauke, Exchequer Secretary to the Treasury, has today announced a change in legislation to prevent tax avoidance.
The measure will prevent individuals from taking advantage of a tax loophole that would have emerged today had the Government not taken action.
The measure will close an unintended tax loophole for UK residents transferring pension savings overseas.
Legislation, which will have effect from today, will be introduced in Finance (No.3) Bill.
Exchequer Secretary to the Treasury, David Gauke MP said: “The Government has set out a clear strategy on preventing tax avoidance. We will not hesitate to take action to stop those who seek to take unfair advantage of unintended tax loopholes. Today’s measure demonstrates our commitment to act quickly to close these.”
(BMcN/GK)
The measure will prevent individuals from taking advantage of a tax loophole that would have emerged today had the Government not taken action.
The measure will close an unintended tax loophole for UK residents transferring pension savings overseas.
Legislation, which will have effect from today, will be introduced in Finance (No.3) Bill.
Exchequer Secretary to the Treasury, David Gauke MP said: “The Government has set out a clear strategy on preventing tax avoidance. We will not hesitate to take action to stop those who seek to take unfair advantage of unintended tax loopholes. Today’s measure demonstrates our commitment to act quickly to close these.”
(BMcN/GK)
Related UK National News Stories
Click here for the latest headlines.
30 November 2010
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
31 March 2005
Lib Dems pledge to scrap 'unfair' council tax
The Liberal Democrats have vowed to scrap the "unfair" council tax, on the 15th anniversary of the poll tax riots. The party said that the council tax should be replaced with a local income tax, based on the ability to pay.
Lib Dems pledge to scrap 'unfair' council tax
The Liberal Democrats have vowed to scrap the "unfair" council tax, on the 15th anniversary of the poll tax riots. The party said that the council tax should be replaced with a local income tax, based on the ability to pay.
30 May 2014
More Fall Into Debt Following HMRC Overpayments
The number of issues reported to Citizens Advice of people falling into debt as a result of repaying overpaid tax credits increased by 14 per cent in the 2013/14 tax year. Tax Credit debts arise when HMRC over-estimates a person’s entitlement to financial support and ends up having to recoup overpayments.
More Fall Into Debt Following HMRC Overpayments
The number of issues reported to Citizens Advice of people falling into debt as a result of repaying overpaid tax credits increased by 14 per cent in the 2013/14 tax year. Tax Credit debts arise when HMRC over-estimates a person’s entitlement to financial support and ends up having to recoup overpayments.
18 March 2004
Chancellor’s film relief rules broadly welcomed
Chancellor Gordon Brown’s decision to offset the closing of a tax loophole widely used by filmmakers with extended tax relief has been generally well received by industry bodies.
Chancellor’s film relief rules broadly welcomed
Chancellor Gordon Brown’s decision to offset the closing of a tax loophole widely used by filmmakers with extended tax relief has been generally well received by industry bodies.
30 January 2004
Government hails Child Tax Credit figures
The government has hailed its Child Tax Credit and Working Tax Credit after official figures revealed that six million families had taken up the scheme in the 10 months since their introduction.
Government hails Child Tax Credit figures
The government has hailed its Child Tax Credit and Working Tax Credit after official figures revealed that six million families had taken up the scheme in the 10 months since their introduction.
-
Northern Ireland WeatherToday:Mostly dry south and east, patchy light rain west and north through much of the day. A band of heavier rain crosses central and northern parts in the morning Maximum temperature 13 °C.Tonight:Dry in the southeast at first otherwise widespread light rain or drizzle for most, turning to clear spells and a few showers towards morning. Minimum temperature 5 °C.
