Members of the House of Lords have said that the public was 'needlessly worried' by the governments handling of changes to trust taxation.
A sub-committee of the House of Lords economic affairs committee made its criticisms after examining tax changes proposed in the Finance Bill. The committee said that it did not accept the governments claim that consultations on the changes could not have been made without delays.
Our view
We agree with the 'Lords', this has been a debacle yet again from start to finish. Some of the proposed changes set pulses racing with virtually all Wills having to be re-written and many trusts being potentially taxed. Yet again policy makers have little idea of what they meddle with and should talk to professionals before doing so.
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