Kevin Reed, Accountancy Age, Wednesday 12 May 2010 at 09:07:00

Tory and Lib-Dem tax policies lined up for compromise

Tory/Lib Dem tax policies face anumberof compromises as a coalition government.

Early reports suggest that the Lib-Dems' mansion tax plan will go by thewayside, as will the Tories'IHTthreshold increase.

The income tax threshold is set to rise to 10,000, a Lib-Dem policy, whileplanned increases in national insurance will be shelved.

CGT couldrise on non-business assets to as much as 40%, reported theFT.

Both parties were against the child trust fund set-up.

The Tories' married couples tax relief plan could also survive thenegotiations

An emergency Budget is expected to take place within the next two months.

Further reading:

Brownleaves and coalition finally takes office