The survey has found top rate personal income tax rates around the world have
fallen by an average of 2.5 percentage points in the past six years, as
governments try to balance their need for revenue with the impact of increasing
global labor mobility.
However, a top rate of 45% on earnings of more than £150,000 would still be
below the top rate of key competitors such as Germany (45% on €250,000) and the
US, where top rate of up to 45% starts at $US357,700.
‘The Treasury clearly needs to find money from somewhere but the UK has to
remain competitive at a time when the workforce is becoming more mobile. Given
the recent changes to non-domiciled taxation this is a further potential
challenge to London’s position as a leading global financial centre,’ David
Kilshaw of KPMG in the UK, said.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay