More debate on the top rate of income tax.  John Mason, former MP and now SNP MSP, suggested that the top rate of income tax is increased when the power to vary income tax rates is passed to the Scottish Parliament.  This proposal was given short shrift by the First Minister.   Eric Pickles, UK Community Secretary, wants to slash the top rate of income tax and thinks that imposing a “mansion tax” would be a mistake.

The UK Government’s deal with the Swiss banks got a mixed reaction.  The Swiss government has agreed to tax money held by UK taxpayers in Swiss bank accounts for the first time, while still hiding their identity.  The mixed reaction is because the amount of tax likely to be paid will be just a fraction of what is actually owed.

The campaign to reduce the rate of VAT on domestic property repairs and improvements has continued.  One point that as yet has not received much coverage is the fact that the Isle of Man has already negotiated such a reduced rate with HM Treasury.  More on this can be found here.

The fact that the French and German governments are pressing for a unified rate of corporation tax for the Euro zone countries has received a fair bit of coverage particularly in Ireland.  I suspect the fact that the same governments are also again, and with a fair bit of urgency, pressing for a European “financial transaction tax” will receive increased coverage.  This is also known as the “tobin tax”.

There has been an increasing number of stories on the action HMRC is taking on VAT and other forms of tax fraud.  This makes sense given the cutting of HMRC’s budget.