Only 49 Days to Go to Tax Freedom Day...
The start of a new tax year usually brings feverish calculations on the part of journalists and economists alike as to the implications of changes in personal taxation.
This year, they are weighing up the comparative effects of the rise in the personal allowance to £9,440 (a significant step to reducing the tax burden for low- and middle-income workers) and at the other end of the spectrum, the reduction in the 50 per cent rate to 45 per cent for the highest earners. But so much of the tax burden is hidden or not obvious, and it can be hard to assess the overall impact.
To read the full article go to Spear's blog
Related in brief posts
The onward gift rules can have the effect of taxing a distribution from an offshore trust to a non-UK resident person who then passes on the distribution to a UK resident person as if the latter has received it directly from the trust.
As the UK settles into its new role as a ‘third country’ in the wake of 31 December 2020, Britons need to explore and understand the new rules relating to their much-loved French gîte, Swiss chalet or Mediterranean yacht.
The Court of Protection and the vaccine: to administer or not to administer - Nicola Boulter considers two recent Court of Protection decisions.