Buyers and owners of high-value residential property are the latest group to be chased for potential tax avoidance. Chancellor George Osborne believes they are avoiding taxes too readily and announced a raft of changes aimed at extracting tax in the recent Budget. Find out if you’re affected, and by how much, below
Organising your tax affairs in order to reduce your income tax liability may soon be curbed, in line with Government proposals to restrict income tax relief. But the proposed ‘tycoon tax’ is also causing a great deal of friction, as generous charitable donations by wealthy philanthropists look set to fall out of favour for tax planning. And they’re not the only ones adversely affected…
How will UK Budget 2012 affect high earners and entrepreneurs? Craig Kemsley, Head of London Private Client at Grant Thornton, gives a summary – watch the video or continue reading for a text roundup of the main points.
There was something of a Budget ‘give away’ flavour to the Chancellor George Osborne’s speech. So what were the big Budget 2012 changes for individuals, higher earners and high net worth individuals (HNWIs)? Francesca Lagerberg, Head of Tax at Grant Thornton, reviews today’s Budget highlights.
Where and how is the money flowing in 2012? We look at five different trends and predictions – from virtual wallets to crowdfunding investment platforms.
How are high net worth individuals (HNWIs) and high earners in the UK likely to be affected in next week’s Budget? Francesca Lagerberg, Grant Thornton’s Head of Tax, makes a few predictions, from pension tax relief to a potential new VAT on luxury goods.
Welcome to a new occasional blog series for high net worth individuals (HNWIs) and high earners in which we answer your burning financial questions. This month, tax manager Mike Hyland is asked about incorporating a business, tax relief on school fees and other money-saving issues.
How would you like to make investments that might help kick-start the recovery of Britain’s economy and that offer you a significant tax incentive? This appears to be possible under the new Seed Enterprise Investment Scheme (SEIS), due to come into effect from 6 April 2012.
Time is of the essence for anyone seeking to extract funds from a company in the process of being struck off. From 1 March 2012, new legislation may bring higher tax liabilities on any payments out of the business before it is dissolved.
