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

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

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

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 […]

Tax Saving Accountants

By 2033, one in three of us will pay 40p tax rate

The income tax paid by one in three Britons – including public-sector workers such as teachers and nurses – could end up in the higher rate in the next 20 years, according to the Office for Budget Responsibility. In its latest forecast, the OBR said that more than 9 million people could be landed with […]

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