Archive for the ‘UK Tax’ Category

ENHANCED TAX RELIEFS UNDER THE ENTERPRISE INVESTMENT SCHEME

Friday, September 9th, 2011

The tax reliefs under the Enterprise Investment Scheme (EIS) for investing in small company shares have been enhanced from 6 April 2011, with 30% income tax relief now available.

With small businesses finding it increasingly difficult to raise finance through the banks, seeking external investors could be well worth considering. The EIS scheme offers some fantastic tax reliefs to investors which make investing in small (and generally high risk) companies attractive, so if you want to attract investors in your business you should considering applying to use the scheme. (more…)

UK Concludes Tax Agreement with Switzerland

Monday, August 29th, 2011
As reported by Grant Thornton, the HM Treasury has announced that it has signed an agreement with the Swiss Government that will mean Britons who hold funds in Swiss accounts will pay tax at 27% – 48% on their Swiss income and gains. (more…)

50% Tax Rate – Is it on the Way Out?

Monday, August 22nd, 2011

There is speculation that the 50% tax rate for those earning over £150,000 could be abolished by 2013. Both the Chancellor George Osborne and the Business Secretary Vince Cable have recently confirmed that the rate is considered to be temporary as mentioned in an article in The Guardian here.

Advice for those over the £150,000 threshold to avoid paying more tax than necessary in the interim: (more…)

Home or Away – UK Statutory Residence Test

Friday, August 19th, 2011

Home or Away – UK Statutory Residence Test

HM Treasury has published a Consultative Document on the possible statutory definition of residence. A further document was issued on the same day regarding proposals to reform taxation of non-UK domiciled residents. The proposed new Statutory Residence Test classifies migrant individuals as “arrivers” (those who have recently come to the UK), “leavers” (who have recently left the UK) or “full time workers abroad”. (more…)

Writing Off Debt of dubious provenance vs Raising taxes to asphyxiate the Economy

Wednesday, August 10th, 2011

Events are moving quickly in Europe this week and  politicians are talking rubbish about raising taxes in a state of desperate panicking, instead of addressing the fundamental problem, which in my view is writing off effective bad debt.

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UK non dom update

Friday, June 17th, 2011

The consultation issued by the Government outlining proposed changes to the taxation of non-UK domiciled individuals, increases the remittance basis charge but encourage foreign investments in the UK. The remittance basis charge goes from the current £30k to £50k, only applied to those resident in the UK for 12 years or more.

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UK tax residence update

Friday, June 17th, 2011

As reported by Grant Thornton, the Government has today released its consultation on the long awaited statutory definition of residence which they are seeking to introduce from 6 April 2012.

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Increased Income Tax rates.- is it any good for the real Economy?

Thursday, May 12th, 2011
How far can the US and the EU governments go to increase taxes  and social security charges on wages?. With the purpose of balance their budgets, we believe that higher taxes on employment are suffocating the real economy and the prospects for employment generation.

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