The top rate of income tax will be reduced from 50% to 45% per cent from April 2013, but a new cap on tax reliefs will increase the effective rate for some taxpayers and experts warned that people on means-tested benefits would have much of the benefit of an increased personal allowance clawed ba
The main rate of corporation tax will be reduced to 24% from next month, the Chancellor announced.
‘George Osborne will on Wednesday stage a tax grab on London’s booming top-end property market, in a Budget which will offer significant cuts in the taxes paid by business and low and middle income families.
Putting homes into companies to avoid stamp duty is ‘completely
‘George Osborne is poised to slash the top rate of income tax from 50p to 40p in next week's budget in a dramatic move that will delight business and the Tory right, but risks reinforcing the Conservatives' reputation as protectors of the super-rich.
With public debt across Europe reaching unsustainable levels, governments are under more pressure than ever before to raise revenues without harming prospects for growth. This report examines different approaches to fiscal consolidation, and why better tax compliance has a key role to play; trends in both direct taxes and VAT rates; whether the proposed Financial Transaction Tax helps or hinders; the tax measures being introduced by several Member States (examining countries with record deficit levels as a proportion of GDP and those introducing new tax initiatives); tax policy issues for the UK; and the wider economic outlook for the Eurozone.
Businesses should be more transparent about the tax they pay and open themselves to greater scrutiny, David Gauke, the Exchequer Secretary to the Treasury, said in a speech to the Centre for Business Taxation at Oxford University.
The Finance Act 2010, Schedule 6, Part 1 (Further Consequential and Incidental Provision etc) Order, SI 2012/735, applies a new definition of ‘charity’ for the pu
‘Nick Clegg has been forced to soften proposals for a “tycoon tax” less than 48 hours after announcing it as a flagship policy at his Liberal Democrat party’s spring conference.
The Treasury Committee has questioned whether estimating the ‘tax gap’ serves any useful purpose in HMRC’s work and pointed out that encouraging taxpayers to pay the right tax voluntarily is ‘by far the most efficient way’ to close the gap.