Review of budget proposals by Andrew Tailby-Faulkes
Budget 2010: Little relief for the wealthy
Despite the welcome extension of entrepreneurs' capital gains tax relief coupled with business rate and investment allowance reliefs the Budget — with its confirmation of the new 50% income tax rate for high earners and trustees and the new 5% stamp duty rate for expensive properties — confirmed that wealthy individuals remain key targets for the Government to raise taxes from. These measures directed at the wealthy join a long list in recent years including trust inheritance tax (IHT) changes the remittance rules for resident non-doms and pension relief restrictions. This focus together with HMRC's stance on matters such as personal tax residence seems wholly at odds with the positive things that the Government is doing to make the UK an attractive place for companies.
Stamp duty land tax: rates ...
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Review of budget proposals by Andrew Tailby-Faulkes
Budget 2010: Little relief for the wealthy
Despite the welcome extension of entrepreneurs' capital gains tax relief coupled with business rate and investment allowance reliefs the Budget — with its confirmation of the new 50% income tax rate for high earners and trustees and the new 5% stamp duty rate for expensive properties — confirmed that wealthy individuals remain key targets for the Government to raise taxes from. These measures directed at the wealthy join a long list in recent years including trust inheritance tax (IHT) changes the remittance rules for resident non-doms and pension relief restrictions. This focus together with HMRC's stance on matters such as personal tax residence seems wholly at odds with the positive things that the Government is doing to make the UK an attractive place for companies.
Stamp duty land tax: rates ...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
