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Sunak might copy Biden's capital gains raid – but it won't solve his problem


Sunak might copy Biden s capital gains raid – but it won t solve his problem
Some Americans will be paying tax rates of more than 50pc, the highest since the 1920s
29 April 2021 • 10:00am
Where American goes, the world follows. Does this mean President Joe Biden’s plans to raise income and capital taxes to pay for the pandemic will be replicated on this side of the pond?
The President arguably has less of a battle on his hands than Boris Johnson and Rishi Sunak would. For starters, Mr Biden has not bound himself with an election “triple lock” promise not to raise income tax, National Insurance and VAT. Those three levers out of bounds leave only corporation tax with the heft to raise serious amounts of cash, which the Chancellor duly did at the last Budget. ....

New York , United States , United Kingdom , Los Angeles , Blick Rothenberg , Daniel Hyde , Joe Biden , Boris Johnson , Office For Tax Simplification , National Insurance , Where American , President Joe Biden , Rishi Sunak , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , லாஸ் ஏஞ்சல்ஸ் , ப்ளிக் ரோதன்பெர்க் , டேனியல் ஹைட் , ஓஹோ பிடென் , போரிஸ் ஜான்சன் , அலுவலகம் க்கு வரி எளிமைப்படுத்தல் , தேசிய காப்பீடு , எங்கே அமெரிக்கன் , ப்ரெஸிடெஂட் ஓஹோ பிடென் , ரிஷி சுனக் ,

A glance across the Atlantic would show Sunak what real tax reform looks like


A glance across the Atlantic would show Sunak what real tax reform looks like
Joe Biden is about to shake up US taxation policy. The UK must hope that the chancellor feels a need to emulate him
Joe Biden proposes to almost double the rate of tax on investment gains. Photograph: Getty Images
Joe Biden proposes to almost double the rate of tax on investment gains. Photograph: Getty Images
Sun 25 Apr 2021 02.00 EDT
The differences couldn’t be more stark. Promises to “build back better” from Covid-19 have been made on both sides of the Atlantic. But as lockdown measures are steadily relaxed, President Joe Biden is showing far greater ambition than Boris Johnson’s government when it comes to shaping the post-pandemic recovery. ....

United States , United Kingdom , City Of , Reed Hastings , Joe Biden , Boris Johnson , Office For Tax Simplification , President Joe Biden , Rishi Sunak , Tax Simplification , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , நகரம் ஆஃப் , நாணல் அவசரம் , ஓஹோ பிடென் , போரிஸ் ஜான்சன் , அலுவலகம் க்கு வரி எளிமைப்படுத்தல் , ப்ரெஸிடெஂட் ஓஹோ பிடென் , ரிஷி சுனக் , வரி எளிமைப்படுத்தல் ,

Tax news in brief


Highlights from the broader tax news week ending 21 April, which includes an update from the Office for Tax Simplification on how HMRC is meeting its 2018 recommendations on guidance for taxpayers, as well as the latest editions of HMRC s Agent Update and Employer Bulletin.
HMRC makes ‘clear progress’ on guidance for taxpayers
The Office for Tax Simplification (OTS) has published a paper examining how HMRC is performing against 12 OTS recommendations to improve guidance for taxpayers published in 2018. In the new paper, the OTS acknowledges that HMRC has made “clear progress in implementing the new guidance model” that the OTS envisaged in 2018. It confirms that HMRC has committed significant resources to its guidance team and is making extensive use of external feedback to improve guidance. It concludes by looking to HMRC’s future plans and encourages the allocation of further resources. Read the report in full. ....

Brexit Support Fund , Registration Service , Office For Tax Simplification , Tax Simplification , Support Fund , Construction Industry Scheme , Trust Registration Service , Making Tax , பதிவு சேவை , அலுவலகம் க்கு வரி எளிமைப்படுத்தல் , வரி எளிமைப்படுத்தல் , ஆதரவு நிதி , கட்டுமானம் தொழில் திட்டம் , நம்பிக்கை பதிவு சேவை , தயாரித்தல் வரி ,

Industry brandishes tax consultation day a "damp squib"


Industry brandishes tax consultation day a “damp squib”
Industry brandishes tax consultation day a “damp squib”
Tax leaders criticise the much-anticipated consultation day following delays at the treasury
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The treasury’s anticipated tax policy and consultation day was a series of lost opportunities, according to senior tax officials.
Last Tuesday, the government published 30 tax updates, consultations and policies following its announcement in February it would postpone the release of the publications that are traditionally shared on Budget day.
“We lost an opportunity on the consultation day to set out the roadmap and the rationale behind where the future tax regime is going,” says Chris Sanger, head of tax policy at EY. “They’ve done that on the administration side, and they should be doing the same on the policy side. ....

United Kingdom , Amanda Tickel , Marissa Thomas , Stephen Martin , Chris Sanger , Lee Holloway , Office For Tax Simplification , National Insurance , Tax Day , Tax Simplification , Income Tax , Grant Thornton United Kingdom , ஒன்றுபட்டது கிஂக்டம் , அமண்டா டிக்கல் , மரிசா தாமஸ் , ஸ்டீபன் மார்டின் , கிறிஸ் சாங்கர் , லீ ஹோலோவே , அலுவலகம் க்கு வரி எளிமைப்படுத்தல் , தேசிய காப்பீடு , வரி நாள் , வரி எளிமைப்படுத்தல் , வருமானம் வரி , மானியம் தோர்ன்டன் ஒன்றுபட்டது கிஂக்டம் ,