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One last try

25 September 2012 / Mike Truman
Issue: 4372 / Categories: Comment & Analysis

MIKE TRUMAN hopes it is not too late to kill off the cap on unlimited reliefs, but fears it may be so

KEY POINTS

  • Consultation period for restriction on uncapped reliefs is ending.
  • Calculation of income accounts for net pay and payroll giving.
  • Transitional provisions catch amounts related back to previous years.
  • Political reasons for pushing on with this proposal.

Since its announcement in March we have had two main articles about the proposed cap on unlimited reliefs.

The first Cap doesn’t fit was by me shortly after it was announced; the second Does the cap fit? was by Paul Aplin just before the publication of the consultation document for its implementation

The consultation period ends on 5 October. I am doubtful that there is any hope of changing the proposal significantly for reasons I will explain later but prompted by a trenchant set of responses...

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