Posted in Daily £££ Chatter |
Please find below our Budget summary covering the key tax issues in George Osborne’s first Budget. The June Budget had been characterised as ‘the unavoidable Budget’ and the ‘emergency Budget’ and contained a number of very important announcements about tax. These included: The increase in the rate of VAT from 17.5% to 20% to take effect in the new year. The…
Posted in Daily £££ Chatter |
BUDGET 2010 (CON-LIB) Synopsis: Hope given for its abolition The front page of the Telegraph on Saturday 22nd carried the headline ‘Cameron vows to cut taxes’. In an exclusive interview with the Telegraph the PM promised to deliver lower taxes as soon as the economic conditions allowed. Here are some of the key points 50p tax could be scrapped…
CORPORATION TAX 50% and (effective) 60% personal tax rates are hogging the headlines: How do companies fare? How do companies fare under the 2010/11 tax system? Not badly (well not as badly as high income individuals) is the answer. In the Pre-Budget Report the Chancellor announced that the planned increase in the small companies’ rate (from 21% to 22%) from…
Posted in Daily £££ Chatter |
Synopsis: HMRC has been accused of using anti-terror laws spy on suspected tax dodgers. It has been reported that, using anti-terrorism laws, HMRC inspectors are granted permission to spy on people 15 time a day. Official figures suggest that HMRC inspectors are increasingly using the controversial powers to monitor people who they suspect are not paying their legal share of…
Synopsis: 50% tax (42.5% for dividends) should prompt a review of dividend policy for married couples! For those company owner/managers who are married but where the shares in the business are concentrated in the hands of one of the married couple who is a “high earner” then next year´s tax changes should act as a prompt to at least consider…
