Further tax relief on the dormant accounts of holocaust victims has been
announced by Gordon Brown in the Budget.
First announced in July 2005 to exempt payments made by foreign banks and
building societies from tax in relation to dormant accounts, the exemption has
been extended by Brown to cover payments made from 1996/1997 tax year onwards.
The revised date has been introduced and will avoid opening tax liabilities
from earlier years.
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals