Tax Rebates & Refunds

Con/Dem Nation gets going with tax changes

May 12, 2010
Posted in Income Tax, Other Tax — Written by admin

The Conservative/Liberal Democrat coalition government began work today with tax one of the main issues they have come to some agreement on. Here’s the highlights:

  • Capital Gains Tax on non-business assets to rise from 18% to close to 40%
  • Commitment to raise the threshold for Income Tax to £10,000 (though no date set for this, the first increase will be aApril 2011)
  • Tax break for married couples likely to go through as Lib Dems will abstain from voting against it
  • Planned 1% increase in National Insurance will STAY for employees but be SCRAPPED for employers

It’s too early to say how or when all this will be implemented and how it will affect the money in your pocket, but we’ll keep you up to date on everything.

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