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…
HUSBAND AND WIFE AND CIVIL PARTNERSHIPS/INDEPENDENT TAXATION/CIVIL PARTNERSHIPS Synopsis: The arrival of the 50% rate of tax in April 2010 should be a spur for affected couples to ensure they are taking full advantage of independent taxation. This bulletin replaces the previous bulletin posted 9 June 2009 in order to amend details of joint bank accounts of spouses and civil…
