Monthly Archives: July 2014

Making room for manoeuvre

A report by the Public Accounts Committee has found that 1,100 tax reliefs are open to abuse and that ministers are “creating opportunities” for Britons to dodge tax. The Committee said that despite promising to simplify the tax system, the …

Fatca reporting requirement takes effect

Rules requiring financial institutions to disclose the identity and activity of US citizens have come into effect, meaning wealth managers must from today verify their clients’ tax residency on the opening of new accounts to comply with the US Foreign …

Corporation tax cuts mooted?

George Osborne is considering lowering corporation tax to 19% from its current rate of 20%, according to the Sunday Express. Treasury insiders believe that a cut would result in big savings for businesses, an increase in investment and provide a …

Osborne to merge income tax and NI

Downing Street is actively considering the merger of income tax and NI in the next parliament. Sources said the Chancellor has long considered NI a stealth tax and came close to implementing the plan in the last budget. Serious concerns …