Mario Christodoulou, Accountancy Age, Wednesday 12 May 2010 at 12:51:00

Accounting group calls for clarity on tax policy


The Liberal Democrat-Conservative coalition need to come clean on theiragreed tax proposals as soon as possible, an accounting group has warned.

TheUK200Group, which represents mid-tier accounting firms, said the governmentneeded to end uncertainty surrounding their new tax proposals.

?It is now clear that the Lib Dems? ?mansion tax? plan will be dropped, whichis obviously a good thing and I assume the hare-brained idea to levy VAT on newhomes will also go,? said David Whiscombe, a partner at BKL Tax in London and amember of the Group?s tax panel.

?It seems to be more or less established that the rate of CGT will increasesubstantially, perhaps to be at the same rate as income tax, which will requirea fundamental re-think of much tax planning that has been undertaken in recentyears.?

Further reading:

UK200Group

Partiesset out tax policies for election fight