The ‘hot topics’ of 2010 were the 50% income tax rate and the changes to tax relief on pension contributions – both of which have major ramifications for the remuneration of higher earners. Many clients have put planning on hold pending more details on the government’s proposed anti-avoidance rules, but will want to move ahead as soon as we have more certainty – so 2011 is likely to be a busy year. Other developments include the Grays Timber case on disposal of shares for more than market value, the ECJ decision regarding VAT and salary sacrifice schemes, and the new NICs rules for EU assignments.
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