Compliance work by HMRC is leading to investigations into the 50p tax rate as well as the tax on bonuses. Law Firm Pinsent Masons, put through a FOI request (Freedom of Information) which revealed £400 million of tax could be underpaid in these categories of income. It is comprised of PAYE and NIC’s which have [...]
Wednesday, June 15, 2011
The introduction of the top rate fifty percent tax band has resulted in Britains highest earners paying more tax than 13 other major economies. Those earning more than £122,000 would take home 60.9 percent of their income after tax – this differs from Russia where 87 percent is retained, 80.4 percent in Egypt and 100 [...]
Thursday, March 10, 2011
With the UK Budget date looming ever closer, Chancellor George Osborne is being put under fresh pressure to ease the tax burden of higher earners by removing the top 50 percent tax rate, as well as other taxation restrictions aimed at top earners. The Adam Smith Institute, a free market think-tank, published a report warning [...]
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Monday, November 19, 2012
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