28.06.2010
Tax Advice
This post will be of interest to anyone likely to pay capital gains tax (CGT) as a result of a sale of an asset in the 2010/11 tax year. The June Budget introduced an overnight change to the CGT regime and HMRC have produced a fairly readable Budget Note 20 and a copy of the Example 1 from that release is reproduced at the foot of this article. The example uses a taxpayer whose income is taxed at the basic rate but in adding capital gains the inclusive income will be in the higher rate band. read more
22.06.2010
Tax Advice
We have been complimented on the updates posted on Twitter live during the Budget and hope to continue this by summarising the main points of interest to small business owners and individuals in the street.
The Chancellor George Osborne started by painting the picture of the poor state of the economy and among various political comments stated that due a cautious approach fiscal goals would be met one year earlier than expected in 2014. The inflation target will remain at 2% which has already been exceeded, this will peak at 2.7% later in the year and then reduce. In terms of the approach to the deficit a lower spending rather than higher tax route is being taken, read more
) //3 weeks lare already!