The 2011 Budget was the coalition government’s first opportunity to demonstrate in practice its approach to tax policy announced last year and to signpost the key themes for the rest of this Parliament. It’s commitment to consultation has been manifested in this Budget with many new initiatives announced only in principle pending more detailed consultation later in the year. In that light this Budget is one of themes and principles that can only be analysed for general intentions rather than one of substance that can be reviewed in detail at this stage.
No Budget can pass without a crackdown on anti-avoidance but perhaps this Budget was more interesting than previously. There is to be a move to a principles-based approach and perhaps a GAAR rather than the current method of specifically targeting schemes as they come to light. The previous government resisted moves towards...
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The 2011 Budget was the coalition government’s first opportunity to demonstrate in practice its approach to tax policy announced last year and to signpost the key themes for the rest of this Parliament. It’s commitment to consultation has been manifested in this Budget with many new initiatives announced only in principle pending more detailed consultation later in the year. In that light this Budget is one of themes and principles that can only be analysed for general intentions rather than one of substance that can be reviewed in detail at this stage.
No Budget can pass without a crackdown on anti-avoidance but perhaps this Budget was more interesting than previously. There is to be a move to a principles-based approach and perhaps a GAAR rather than the current method of specifically targeting schemes as they come to light. The previous government resisted moves towards...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
