HMRC urged to standardise gift tax rules across all industries, including politicians
Blick Rothenberg urges HMRC to standardise gift tax laws across all industries, including politicians, for greater clarity and consistency in the taxation of gifts. Read more: HMRC urged to standardise gift tax rules across all industries, including politicians
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HMRC should implement standardised tax regulations for gifts to ensure they apply equally to all taxpayers, including politicians, according to tax and advisory firm Blick Rothenberg.
Robert Salter, a Director at the firm, has called for greater clarity and consistency in gift taxation, noting that while media personalities and social influencers are taxed on gifts, politicians often receive gifts tax-free.
Salter pointed out that gifts given to politicians, sometimes job-related, are not treated as taxable income by HMRC, despite similar gifts being subject to tax in other sectors. He emphasised that while current laws are complex, neither donors nor recipients are breaking any laws if gifts are not declared as taxable income.
Salter argues that applying consistent rules across all industries would simplify the current system, which requires case-by-case analysis. He proposed that HMRC should introduce clear, standardised rules, while also considering a sensible de minimis threshold (e.g., gifts exceeding £1,000 in a tax year) to prevent minor gifts from triggering tax liabilities.
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HMRC urged to standardise gift tax rules across all industries, including politicians
