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Government calls for feedback on new business tax framework

Published on 22 Feb 2010 under category: legal

The government has asked firms for feedback on its new tax framework for business.
According to the treasury, the government has set out the principles underlying its development of tax policy which include "securing fairness, competitiveness and stability in the UK".

Alistair Darling, the chancellor of the exchequer, said: "The UK is a good place to do business and we want to keep it that way.

"Businesses want certainty on tax. That is why today I have set out, in collaboration with UK business, the government's key principles for tax policy and how we will engage with business when developing tax policy."

Last week, the Chartered Institute of Taxation welcomed the government's decision to extend the consultation period after concerns in the industry about the definition of a "tax agent" and "tax advice".

The industry body also claimed that the legislation essentially penalised anyone who gives advice that could present a "loss to the treasury".

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