Non-doms and nil rate bands: Six ‘Emergency Budget’ predictions
By International Adviser, 19 Jun 15
Chris Groves and Sophie Dworetzsky from international law firm Withers outline six of their expectations for July’s Budget.
The problem with committing to a lock on the headline rates of tax in an era of continuing austerity is that it leaves the Government with the question of how to increase tax revenues.
The answer is likely to be the continued restrictions on tax relief for contributions for higher rate taxpayers, with those earning more than £150,000 being progressively restricted to an annual allowance of £10,000.
Top rate taxpayers would be well advised to consider whether they should either top-up their pensions or bring forward regular contributions before the Emergency Budget.
Tags: Non Doms | UK Adviser | Withers
