Tax & Regulation | 25 Nov 15
Buy-to-let Stamp Duty hike among perks under fire
Chancellor George Osborne showed a steely determination to tackle some of the cosier aspects of the lives of the wealthy in this year’s Autumn Statement. Tax evasion, capital gains tax and second homes came under scrutiny in an otherwise relatively benign budget.
Tax & Regulation | 25 Nov 15
Osborne targets tax avoiders with 60% penalty
A new penalty of 60% on tax due will be levied against tax avoiders in all cases successfully tackled by the General Anti Abuse Rules (GAAR), Osborne announced in his joint Autumn Statement and Spending Review on Wednesday.
Tax & Regulation | 25 Nov 15
No IHT on drawdown funds, deeds of variation get reprieve
Inheritance tax will not be charged when pension scheme funds are earmarked for drawdown but do not draw all of the funds before death, the Autumn Statement said.
Tax & Regulation | 25 Nov 15
Pension tax changes held back until next year
Any potential changes to pensions tax relief will not be announced until next March, chancellor George Osborne said in his Autumn Statement.
Tax & Regulation | 25 Nov 15
Funding boost for HMRC’s digital transformation
HM Revenue & Customs (HMRC) is to receive more than a billion in additional funding to digitalise the UK’s tax system and introduce personalised digital accounts, removing the need for annual tax returns, chancellor George Osborne announced Wednesday.