Review of budget proposals by Rebecca Rees and Chris Thomas
This year's Budget was short on headline grabbing announcements. Many people had predicted an increase in the rate of capital gains tax which failed to materialise. From an employee perspective this means that for those people earning over £150k the difference between the highest rate of income tax and capital gains tax is a staggering 32%. Coupled with the further rises announced to the rates of NICs (on top of those previously announced) there is a real incentive for employers to provide remuneration in a capital form. With that in mind the Government made various announcements which will crack down on employee share incentives being used to avoid income tax.
Review of budget proposals by Rebecca Rees and Chris Thomas
This year's Budget was short on headline grabbing announcements. Many people had predicted an increase in the rate of capital gains tax which failed to materialise. From an employee perspective this means that for those people earning over £150k the difference between the highest rate of income tax and capital gains tax is a staggering 32%. Coupled with the further rises announced to the rates of NICs (on top of those previously announced) there is a real incentive for employers to provide remuneration in a capital form. With that in mind the Government made various announcements which will crack down on employee share incentives being used to avoid income tax.
