Private Jet Tax

Private Jet Tax.

According to the BBC, The Chancellor George Osborne will announce a tax on private jet flights in the Budget in an attempt to crackdown on tax loopholes.  He is looking to raise an extra £1bn a year by tackling tax avoidance and raise as much revenue as possible to reduce the budget deficit.  Currently, travellers using corporate jets do not have to pay any duty.  It is also believed he will not be increasing duty on air passenger travel this coming year.

HM Revenue & Customs is increasing its attempts to bring in more unpaid tax and part of their campaign will focus on criminal gangs that evade VAT and duties.  According to HMRC, 90 per cent of taxpayers pay what they owe in full, it is the 10 per cent who evade tax bills that this campaign is aimed at.  

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