NICK CLEGG is ready to support axeing the 50p top rate of income tax in this month’s Budget in return for taxes on the wealthy, possibly on their mansions or pensions.
The Deputy prime minister has told David Cameron that he is not ideologically wedded to the 50p tax rate on earnings over £150,000 but that he could support its abolition only if it was offset by measures to extract even greater revenues from the wealthy, the Financial Times reported.
The big stumbling block to the abolition of the 50p rate could be David Cameron, who has signalled his instinctive opposition to new taxes on the wealthy, while many Conservative MPs also oppose any new taxes on principle, the FT reported.
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