U.K. Government Vows to Limit Retrospective Tax Legislation
This article is for subscribers only.
The British government pledged to limit retrospective tax legislation to “wholly exceptional circumstances” as it replied to a parliamentary report on the March budget.
The comments, published by the cross-party House of Commons Treasury Committee in London today, came in response to concerns raised by lawmakers after Chancellor of the Exchequer George Osborne vowed to act “swiftly, without notice and retrospectively” if wealthy homebuyers found “inappropriate” ways around a crackdown on stamp-duty avoidance.