Tax Planning

UK residents with Swiss bank accounts are being warned that new landmark taxation arrangements are scheduled to come into force on 1 January next year.

KEEP IT SIMPLE

National Savings & Investments (NS&I) has cut the interest rate on its Direct ISA by 0.25% per annum to reflect similar moves across the market.

Her Majesty's Revenue & Customs (HMRC) is this week to begin issuing about one million notifications to households about forthcoming changes to child benefit payments.

A report is calling for the 40p income tax threshold to be raised to stop hundreds of thousands of extra people falling into the bracket.

Cabinet minister Ken Clarke has backtracked after suggesting a tax break promised to married couples would not be implemented.

Almost a third of the UK 'tax gap' - the difference between what is owed to Her Majesty's Revenue & Customs (HMRC) and what is collected - is due to tax avoidance or evasion, according to the latest estimates.

Accountancy and advisory group RSM Tenon is facing legal action relating to its decision to shut its specialist tax business earlier this year.

EBTs

The London mayor Boris Johnson said yesterday that he wanted to cut the top tax rate further, from 45p to 40p in the pound.