Tax Saving Accountants

Miliband to Tax Foreigners, Help British First-time Buyers

Ed Miliband has recently promised to help British first-time buyers, while favouring local ownership and scrapping the levy on some purchases. He also plans to raise taxes for foreign property investors in the even that the UK labour Party gets elected in May. This will mean that first-time buyers can avoid stamp duty as long […]

Tax Saving Accountants

Report Reveals UK Tax Burden 18% Higher than Global Average

The UK tax burden as a share of the economy is close to a fifth higher than world averages, which may impede growth and stifle entrepreneurship, a new report has claimed. Tax revenue is 32.9% of the GDP, compared to 27.8% which is the worldwide average. This makes the tax level in the UK several […]

Tax Saving Accountants

Labour Planning a Crackdown on “unfair tax breaks”

The UK Labour Party has promised to crack down on unfair tax breaks, which are used by private-equity and hedge funds, in an attempt to win over voters before the election in May. Labour has also reiterated its plants to introduce a levy for bankers’ bonuses, which would see funds going towards a youth employment […]

Tax Saving Accountants

Parties are Clashing on Top Tax Rate for Election 2015

Both parties are clashing on top tax rate, and Labour recently called on the Conservative Party to promise not to lower the top income tax rate if it wins the election. George Osborne responded by saying he had no plans to do so, but also refused to completely rule the move out. In 2013 the […]

Tax Saving Accountants

UK Annual Tax Returns To Be Phased Out Within 5 Years

George Osborne, Britain’s Chancellor of the Exchequer recently announced on March 18 during his Budget 2015 speech, that annual tax returns will be phased out within five years. Digital Tax Accounts Instead, HM Revenue and Customs (HMRC) the United Kingdom’s tax regulator, will be making it much easier for a new company to register and […]

Tax Saving Accountants

The UK will be Increasing Fines for Tax Evaders

The UK will soon be increasing penalties for those failing to pay taxes due on money in offshore banks, and will also be levying large fines on companies who try to evade taxes, along with those who help them. These new plans come as a response to the controversy caused by disclosures that HSBC had […]

Tax Saving Accountants

UK Government rejects higher Diesel Tax to deal with Pollution

The British government has rejected the idea of raising taxes on diesel vehicles in order to reduce air pollution. Britain has been consistently failing to meet the European Union limits on nitrogen dioxide-produced by diesel engines. Nitrogen dioxide and diesel particular matter is especially harmful to respiratory systems. The parliamentary Environmental Audit Committee published a […]

Tax Saving Accountants

Conservatives may Raise Inheritance Tax Threshold to £1m

The hugely unpopular “death tax” may be overhauled, making it fairer for those living down south, and ensuring that wealthier people won’t be the only ones to benefit. The current one-size-fits-all policy means that those living in areas with higher valued houses are paying much more inheritance tax, as higher house prices  often push their […]

Tax Saving Accountants

David Cameron promises sweeping tax reforms

During a well-received speech at the Conservative Party conference in Birmingham, David Cameron has promised a personal income tax allowance for £12,500, and to raise the 40p tax threshold to £50,000. The Prime Minister said that the move would mean that most minimum wage workers would pay no tax whatsoever. Some 30 million taxpayers would […]

Tax Saving Accountants

UKIP set to unveil income tax reforms in party conference

UKIP is set to unveil far-reaching reforms to income tax – with those earning as much as £55,000 set to pay 35p of tax for every £1, instead of 40p. Led by Nigel Farage, the controversial party has received a surge of popularity recently. On Friday, it is set to announce that it would raise […]

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