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Tories warns HIPs are ploy for more tax

The Conservatives has continued its onslaught against Home Information Packs , set to be launched tomorrow, warning that the scheme is being used as a ploy by the Government to use the Hips database to increase council tax bills.

The Tories claim that an investigation by the party shows that the information collected by the new army of home inspectors is likely to be used to hike up council tax bills in a ‘backdoor’ revaluation, leaving property owners forced to pay for the privilege of the State inspectors entering their home – to help the taxman record, log and tax it.

It says that the Valuation Office Agency has already gained access to estate agency database Rightmove as well as the Land Registry to gather information on homes ahead of the council tax revaluation in England.

Shadow Local Government and Communities secretary Eric Pickles says: “Labour’s plans for HIPs are nothing less than a home information tax. This isn’t about making it easier to get onto the housing ladder; it’s just a stealthy way of conducting Labours controversial council tax revaluation by the backdoor.”

He adds: “Labour Ministers keep changing their tune on why HIPs are supposedly needed – first to tackle gazumping, now to enforce EU directives. Yet the real driving force is their desire to create a massive property database of every home.”


Government in a spin over HomeBuy scheme

This week has seen the Government make even more promises over affordable housing with the publication of its green paper on housing. It announced the expansion of its Open Market HomeBuy scheme with the launch of a new 17.5 per cent equity loan product after admitting its existing scheme was not flexible enough for first-time buyers.

Vine-Lott to chair National Skills Academy for Financial Services

Tisa director general Tony Vine-Lott has been appointed to chair the newly created National Skills Academy for Financial Services. The Academy was launched in May 2007 by then-Economic Secretary Ed Balls MP and Skills Minister Phil Hope MP. The National Skills Academy for Financial Services will set a new standard for excellence in training and […]

Flexible reversionary trusts and estate planning

The suitability of different estate planning solutions will depend on the individual’s own circumstances, needs and objectives. When considering the different solutions available there is a trade-off between inheritance tax (IHT) efficiency and access. Overall a flexible reversionary trust provides a greater level of flexibility than a discounted gift trust and can offer individuals a […]


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