Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

HMRC urged to standardise gift tax rules across all industries, including politicians

by September 26, 2024
September 26, 2024
HMRC urged to standardise gift tax rules across all industries, including politicians

HMRC should implement standardised tax regulations for gifts to ensure they apply equally to all taxpayers, including politicians, according to tax and advisory firm Blick Rothenberg.

Robert Salter, a Director at the firm, has called for greater clarity and consistency in gift taxation, noting that while media personalities and social influencers are taxed on gifts, politicians often receive gifts tax-free.

Salter pointed out that gifts given to politicians, sometimes job-related, are not treated as taxable income by HMRC, despite similar gifts being subject to tax in other sectors. He emphasised that while current laws are complex, neither donors nor recipients are breaking any laws if gifts are not declared as taxable income.

Salter argues that applying consistent rules across all industries would simplify the current system, which requires case-by-case analysis. He proposed that HMRC should introduce clear, standardised rules, while also considering a sensible de minimis threshold (e.g., gifts exceeding £1,000 in a tax year) to prevent minor gifts from triggering tax liabilities.

Read more:
HMRC urged to standardise gift tax rules across all industries, including politicians

0
FacebookTwitterGoogle +Pinterest
previous post
Climate Change and Hurricane Damage
next post
Watchdog sues Pentagon for withholding promotion data they believe will show DEI at play

You may also like

UK risks losing AI leadership without a national...

October 7, 2024

Retail sales fall as costs bite

May 26, 2023

UK Watchdog Urges Tech Industry to Embed Data...

May 15, 2024

Consumer confidence rises as global trade tensions ease,...

May 23, 2025

UK Christmas shoppers urged to return to high...

December 13, 2022

SSE and TotalEnergies accelerate electric vehicle charging network...

July 16, 2024

HMRC probes nearly 800 major UK firms over...

August 27, 2024

Red Bull Team Principal Faces Uncertain Future Amid...

February 9, 2024

8 Strategies to Quickly Grow Your Business

March 21, 2023

Companies House introduces new penalties to boost compliance...

September 27, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Elon Musk warpath against Trump’s ‘big, beautiful bill’ rattles House GOP

      June 4, 2025
    • Durbin obstruction threat chills Senate as Trump nominees hang in balance

      June 4, 2025
    • Elon Musk posts ‘Kill Bill’ meme in latest push to nix Trump’s ‘big, beautiful bill’

      June 4, 2025
    • Why ADX Can Mislead You — And How to Avoid It

      June 4, 2025
    • S&P 500 on the Verge of 6,000: What’s at Stake?

      June 4, 2025
    • Johnson says Republicans ‘don’t have time’ to craft new Trump plan despite Musk’s call to ‘KILL the BILL’

      June 4, 2025

    Categories

    • Business (8,143)
    • Investing (2,006)
    • Politics (15,518)
    • Stocks (3,127)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved