Venture Capital Trusts (VCT)

When we talk about tax reliefs (the abuse of which have been a hot topic in the press recently) we are really talking about two different things: tax reliefs and tax expenditures. A tax relief is designed to ensure that a tax is only applied to the group it was originally intended for. Cabin crew do not have to pay air passenger duty – the duty is intended to apply to paying passengers and it would be unfair to apply it to the crew! So this is a relief. A tax expenditure is an alternative to a public spending program and are designed to… continue reading