The Labour Party has published its ‘Fair Tax Programme’, promising to raise more than £6 billion a year with measures including an Offshore Property Company Levy, scrapping non-dom status and trebling the number of audits carried out by HMRC.
The Liberal Democrats have set out plans for significant reforms to business taxation and to tax capital gains and income through a single allowance. Business rates would be replaced with a new Commercial Landowner Levy and business taxation would be ‘simplified’ to lower administration costs.
The first full week of election campaigning since Parliament was dissolved has seen Labour back a new tax on multinationals and the Conservatives propose cuts to business rates for small firms. Ahead of the manifestos – most of which are expected next week – here is our round up of tax and related developments so far.