Industry gets behind proposed gift change.

From: Financial Adviser | Date: March 1, 2007 | Copyright information

Byline: The move comes alongside calls from the Institute of Directors to scrap IHT

Taxation

Providers have welcomed news that the government is considering increasing the limits of gifts to most trusts, although HM Revenue & Customs said no final decision has yet been taken.

HMRC is considering increasing the inheritance tax limit for certain types of gifts in tax year 2007/2008, from AGBP10,000 to AGBP200,000.

The news comes as the In...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and journal articles from HighBeam Research

HMRC is working overtime to rake in cash; LEGAL FINANCE.(Business)
The Birmingham Post (England) ; Revenue and customs officers are working overtime in order to beat increasingly challenging targets and increase the Government's tax take, according to a West Midland chartered accountant. Henry Briggs, senior partner at the Birmingham office of HW Chartered Accountants, claims that HMRC officials
LEGAL FINANCE: 'Mistakes will be made' in move to axe HMRC jobs.(News)
The Birmingham Post (England) ; Byline: By John Duckers Business Editor Accountancy firm Grant Thornton believes that more mistakes such as the loss of 25 million child benefit records are inevitable if HMRC is forced to press ahead with an aggressive change management plan while the Government slashes its funding and staff
Failure to recognise Scots law another HMRC blunder
The Scotsman ; SCOTLAND could face less Draconian HM Revenue & Customs (HMRC) action than the rest of the UK when it comes to tax collection from "persistent defaulters" because of differences in the legal systems. But some Scottish experts are not aware a consultation issued by HMRC in June, proposing that the
Small business tax test case told of HMRC's 'shameful' conduct ; BUSINESS
The Independent - London ; Lawyers acting for HM Revenue & Customs yesterday began the final stage of a four-year legal battle that could lead to thousands of small businesses facing retrospective demands for tax. HMRC is asking the House of Lords to overturn a Court of Appeal ruling on its dispute with Arctic Systems, a
HMRC's international amnesty splits sector.(UK Her Majesty's Revenue and Customs)
Financial Adviser ; Byline: Move is a good starting place argue some, but many believe HMRC will pounce Tax HM Revenue & Customs' offshore facility to encourage payment of taxes and duties is far less generous than expected, according to a tax expert. Under the terms of the disclosure, notification of the