BORIS JOHNSON HAS URGED the chancellor to state a “clear direction of travel” on how the government will reduce taxes during the term of Parliament.
Johnson said there needs to be a clear definition in the next Budget outlining how the government plans to tackle high levels of income tax, The Telegraph reports.
The mayor of London thought he would never see the day other large European countries had lower tax rates than the UK.
“Can we endlessly go on with a tax rate that is higher than not just America and Japan but also France, Germany and Italy? All these countries we’ve always beaten on tax.” He added: “We need to set a course for low tax,” said Johnson.
“I know this is something George knows and he wants to do. Labour have created a climate that is miserable and anti-wealth creation and was resentful… it takes a real effort of political will to dispel that. I hope very much that that is what George will do and I will lay money he will. That is the way forward and I know he thinks this,” he added.
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
Let us hope that valuable asset protection vehicles are not made prohibitively burdensome or abolished in the desire to “simplify” IHT
The government is pressing ahead with changes to the way it taxes individuals with a foreign domicile
I will feel slightly awkward when I write to the client who is about to receive a large invoice from the PAYE expert, offering him the fee protection going forward