The Chancellor has made it clear that he would support a ‘world financial transaction tax’ in principle, but claimed that an FTT operating only in Europe would result in the relocation of UK-based business to the United States.
The government has set out the top rate of tax on personal income, and details of the tax thresholds adjusted for inflation, for the years 1975/76 to 2010/11. This is an extract from the table provided in a House of Lords written answer:
HMRC has confirmed that the European Commission has approved two changes announced in Budget 2011 to the enterprise investment scheme.
FA 2011 s 42 increased the rate of income tax relief 30% for investments made on or after 6 April 2011.
Some of the promising signs of recovery of last spring have been snuffed out over the summer. The economy has hit a softer patch but we should not be too gloomy, says David Smith
Sarah Lane reviews the European Commission's proposals, identifying numerous stings in the tail
Opinion among respondents to the recent consultation on a proposed financial transaction tax was ‘strongly polarised’, the European Commission said. Little has changed, judging by initial reaction to the Commission’s detailed proposal for a Council Directive introducing a Europe-wide FTT.
‘A league table of the world's most secretive tax havens lists Switzerland as the worst offender, six weeks after the UK signed a tax transparency deal with the country.
George Osborne ruled out borrowing to fund temporary tax cuts when he addressed the Conservative party conference today, but he revealed that the Treasury was examining how to ‘inject money directly into parts of the economy that need it such as small businesses’.