Finance Bill – tidings of comfort and joy?


Last week the Chancellor, Gordon Brown, delivered his Pre-Budget Report which alluded to further tax simplification changes being on their way. HM Revenue & Customs (HMRC) have now published a Technical Note heralding the tax changes which will mainly form part of the Finance Bill 2007. Of particular note is the proposal to allow ill-health pensions to be reduced once in payment. In this Alert we look briefly at some of the helpful proposals put forward by the Technical Note and the dates on which we can expect them to come to fruition.

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