Pre-Budget tax cuts 'leaked' - papers 12 November

Senior Treasury officials have been meeting with industry folk and tax experts to discuss how any changes may be implemented, such as bringing taper relief rules for individuals in line with those for businesses. Existing rules are seen as cumbersome, relying as they do on investors’s highest rate of income tax, and a formula linking the amount of relief to the amount of time an asset is held. By contrast, businesses attract taper relief of 50% after the first year, and 75% after the second year of asset ownership, The Times writes. INSURANCE INDUSTRY WOES sparked by US regulator i...