Category Archives: General

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 …

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 …

Family business handovers falling

The ‘Second Generation Family SMEs in the UK’ report, compiled by Barclays and Cebr suggests that fewer family businesses are being passed down to the third generation. The report found that the number of businesses handed on to the next …

Balls: Mansion tax plan will only hit rich

Ed Balls has said that Labour’s mansion tax plans would be banded, starting at properties worth more than £2m and rising with higher rates at £5m and £10m and properties worth over £20m subject to a significantly greater contribution. Mr …