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

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 […]

Tax Saving Accountants

G20 in joint efforts to shut international loopholes

Bad news for multinational corporations may be on the horizon. New rules from the Organisation for Economic Co-operation and Development could mean that online giants such as Amazon and Google will be forced to disclose where their profits were made, and where their taxes were paid. This could lead to the many loopholes in tax […]

Tax Saving Accountants

How would tax rates be affected by Scottish independence?

The story that has been on everybody’s lips has been Scottish independence – and whether there’s a Yes or a No vote, there could be tax changes afoot. If Scotland decides to go it alone, Holyrood would be able to decide its own income tax rates, not to mention VAT and corporation tax. Lowering the […]

Tax Saving Accountants

HMRC ‘should be banned from misleading Parliament’

HMRC has been accused of misleading Parliament, its MPs and the public after it inaccurately suggested it was collecting billions of pounds in extra taxes. One expert, Sir Andrew Dilnot, wants the taxman to be banned from confirming how much revenue it collects in the wake of the scandal. In the 2011/12 tax year, as […]

Tax Saving Accountants

Entrepreneurs To Get Taxes In Order As Self-Employment Hits Record

The Self Employed Will Have To Pay Income Tax Professionals who are going self-employed for the first time are being warned to make sure that they are fully prepared to pay tax. The number of people who work for themselves is at a record high in Britain – with 4.5 million now proud to call […]

Tax Saving Accountants

HMRC plans to tighten offshore tax evasion

A new criminal offence is being considered by HMRC, which would see offshore tax evaders face tougher sanctions when they try to conceal their wealth. However, most of these cases would be dealt with via civil means. The taxman has launched a new consultation which targets those who move assets between countries on a regular […]

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