The 50p top rate of tax comes into force from today.
Britain’s best paid workers will have to give up 50p in the pound for any
income over a threshold of £150,000.
The introduction of the new rate forms
of government moves to slash the UK’s spending deficit, which stands at
close to £170bn.
The banking industry suffered a double whammy with the payroll tax on
bonuses, however the feared exodus of high-net worth individuals in the wake of
these changes did not materialise.
A court ruling on a residency dispute involving tycoon Robert Gaines-Cooper
which saw judges side with HMRevenue & Customs
doubts in the minds of those considering a move to another tax jurisdiction,
The Treasury is now considering
statutory residence test, another development which may have also deterred
rich individuals wanting to continue working in London from relocating overseas.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy