Piers Denne from Future Capital Partners looks at the implications of the 50% tax regime for investors.
Q. What changes have come into force? A. The implications of a 50% tax regime would appear to be very simple; at one level it means that for those liable for this higher rate, i.e. taxable annual income over £150,000, they will be working longer for HMRC than they were before. However as always with HMRC the devil is in the detail. Not only is income taxed at a higher rate over £150,000, personal allowances start reducing from £100,000 and become non-existent on salaries over £112,950. Aside from legislative changes, there is also ample evidence HMRC is applying regulations on tax advant...
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