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- Tax Saving Accountants
- 4 May 15
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
- 27 Apr 15
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
- 20 Apr 15
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
- 23 Mar 15
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
- 16 Mar 15
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
- 30 Sep 14
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
- 23 Sep 14
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
- 16 Sep 14
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
- 31 Aug 14
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
- 24 Aug 14
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 […]