“Not such a taxing day, after all”

Mar 25, 2021 | Tax

An independent (financial adviser’s) view

Tuesday was Tax Day, a new concept to me. It’s neither, apparently, another Budget nor an autumn statement in Spring. More, it turns out, some thoughts about stuff it might be a good idea to do. All the same rumours abounded, relief on pensions to go, CGT overhauls, none, again, materialised. Instead, consultations, discussion documents and calls for evidence were announced, mostly about ‘improving and simplifying administration’ and the old chestnut of ‘tackling avoidance’. So what was all the fuss about? I can feel a conspiracy theory brewing…

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“Rachel Reeves may be forced to raise taxes”

“Rachel Reeves may be forced to raise taxes”

Why did she/they (in the old sense) think that tinkering around with IHT and CGT would be enough to sort out the NHS; and the potholes; and…and the list goes on. My guess is  that they asked the Treasury for a list of anything not involving income tax that they could get away with lightly, although they should already have learned from the winter fuel stuff that all publicity is not good publicity.