1. Private Clients
1.1. ICAEW comments on child benefit proposals
Frank Haskew, Head of Tax at ICAEW has commented on the proposed
changes to child benefit announced in the Budget recently. The
Government has proposed means testing child benefit through the tax
system, taking it away from taxpayers earning over £60,000
and tapering it between £50,000 and £60,000.
He said:
"We think that the proposed changes to child benefit
are a policy disaster in the making and in danger of becoming a
practical disaster when they come into effect in January
2013.
Our concern comes out of ICAEW's public interest role
which is to help ensure the tax system works fairly and
effectively. However, our tax system is based on individual
taxation, not total family income, so we think this will be hard to
deliver operationally.
