THE TOP RATE OF INCOME TAX should never have been cut, according to WPP chief executive Sir Martin Sorrell.
The move, which saw the 50p rate dropped to 45p, has frustrated Sir Martin, who argued that the cut should have been spread across the course of parliament, rather than made all at once.
He raised concerns, too, over the confidence of the business world in the coalition government, claiming there is a “big lack of dynamism” in economic policy.
“If you want to improve entrepreneurial activity, reduce the rate of capital gains tax,” said Sir Martin, cited in the Guardian. “Don’t mess about with income tax.”
George Osborne’s budget in April was the subject of intense criticism, with levies on hot food – such as pasties – and caravans particularly controversial. Those decisions, among others, were eventually rescinded.
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