It’s long been the case, in life as well as business that the bigger and richer you are, the more you get away with. Anyone running a small business with big companies as clients knows what a nightmare it can be to get paid; but if you owe them money, it’s not long before the legal stuff starts. The taxman has a similar nightmare getting tax from many of those big companies and has targets to meet, like everyone working for the government these days. So who can blame him if he goes for the soft, low-hanging fruit and sends increasing numbers of small businesses to the wall? If you want to blame someone, look higher up the food chain. I’d say.
“HMRC scraps plans to tax pensions after death”
A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.
