Yes. it'll hurt, no it won't work

Article Abstract:

The UK Inland Revenue is launching self-assessment for taxpayers who fill in tax return forms. Accountants foresee a number of problems. The form has been redesigned a number of times and may not be clear. The tax system itself is complicated and critics argue that legislation should have been simplified prior to launching self assessment. Most forms are likely to be sent prior to deadlines, and the Inland Revenue may have to hire inexperienced staff to deal with them. The first of these new forms will be sent in April 1997.

Tax Administration, Management, Tax administration and procedure, United Kingdom. Board of Inland Revenue

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More pain for capital gains

Article Abstract:

United Kingdom capital gains tax (CGT) burdens could be increased after the Jul 1997 Budget. A flat rate could be levied for CGT at 40%, rather than payment according to income tax rates. There could also be stricter controls of reliefs for reinvestment, and there may be variable rates of CGT according to how long an investment has been held. This would fit in with the government's concern about possible short-term approaches of investors.

Capital Gains Taxes, Economic policy, Budget, Budgeting, Budgets, Capital gains tax

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