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 [...]
The Liberal Democrats have launched their manifesto for the 2010 General Election, announcing that anyone earning under £10,000 would pay NO income tax under a Lib Dem government.
Liberal Democrat leader Nick Clegg said the huge tax break would be paid for by:
Charging an annual 1% levy on houses worth over £2 million
Halving tax relief on [...]
Opinion is divided over whether or not Chancellor Alistair Darling will raise Income Tax in the last Budget before the General Election.
There is concern about the huge gap between the 50% tax rate for those earning over £150,000 and the current 18% Capital Gains Tax rate, which is causing some to convert income into capital, [...]