Government has been asked to create a special tax break for ethical investments in the 2011 Budget. An ethical allowance would pave the way for the creation of a Green ISA, which has already attracted interest from over a quarter of UK savers. Read More
The number of higher rate taxpayers will have to double, if government is to sustain budget changes that propose a higher personal tax allowance of £10,000, a leading accountancy firm has claimed. Read More
Today’s June 2010 budget changes should include an increase of £1,000 in the personal Income Tax allowance for basic rate taxpayers. This increase in Income Tax allowance means that all those earning up to £37,400 will have their tax-free Income Tax personal allowance increased by 15.4%, from £6,475 to £7,475.
Those who turn income into capital cost state £1bn in lost taxes, says the Prime Minister. This would include those whose salary/benefits package includes shares, the sale of which allows them to use their CGT allowances.
