THE TOP RATE of income tax should be lowered from 45% to 40%, according to mayor of London Boris Johnson.
Speaking at the Conservative Party conference, Johnson intimated he would like to go further than George Osborne’s decision to lower the top rate from 50p to 45p in the last Budget, a move that will come into force in April next year.
The current state of affairs, he said cited in the Telegraph, was “uncompetitive”, adding “that really needs to be addressed”.
He acknowledged, however, that his suggestion comes at “a difficult time”, accepting that “people won’t like to hear it”.
In spite of giving the prime minister his backing, Johnson openly disagreed with David Cameron, accepting that he may be unappreciative of his public call for a new tax rate in the face of criticism from Labour on the issue.
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