CIOT criticises government's Finance Bill

Date: 6th April 2010

The government has been criticised by a group of tax experts in its timing of publishing its recent Finance Bill.

According to the Chartered Institute of Taxation (CIOT), the Bill will need to be rushed through in order for proposals to be made into law before the end of the current parliament.

This could lead to a number of loopholes, unforeseen consequences and an overly complex tax regime, the organisation claimed.

John Whiting, CIOT tax policy director, said: "We are particularly disappointed that the restrictions on pensions tax relief for higher earners are going forward in such an over-complex way.

"The Bill's proposals show no signs of there having been any listening to the views of most respondents which were that there were much simpler ways of achieving the aim of curtailing tax relief for the wealthy."

Mr Whiting called on the government to "hold back" the majority of its proposals until after the general election.