Better Business: Taxing times demand creativity

As the UK economy begins its anemic recovery, the focus on public debt run-up during Gordon Brown's watch (and the widening funding gap as tax revenues come under pressure in response to worsening unemployment) will intensify. Little short of public spending cuts on an unprecedented scale, this will inevitably mean taxes going up, irrespective of the government in power. The writing was already on the wall when the Government announced in last April's Budget that from April 6th 2010, income over £150,000 will be taxed at 50% (42.5% on dividend income). In addition, the basic person...