Income tax

The Liberal Democrats party has unveiled a major shift in its tax policy, which includes propels to cut the basic rate of income tax and scrap plans for a 50p in the pound higher rate income tax rate.

UK residents with savings in Gibraltar will see those savings taxed at a rate of 15% from 1 April next year, rising to 35% after 2011 according to a deal just announced by paymaster general Dawn Primarolo and Peter Caruana, chief minister of Gibraltar....

As many as 8.3 million people in the UK would agree to an increase in income tax as a means of solving the pensions crisis, new research indicates.

The Treasury says it needs further guidance on whether proposed real estate investment trusts (REITs)should be listed on the stock exchange.

MARRIED COUPLES could be disadvantaged by changes to tax legislation from December to accommodate new laws recognising gay and lesbian relationships, says the Daily Telegraph.

Paymaster general Dawn Primarolo has confirmed there will be no retrospective taxation of pre-owned assets where an individual is still living in a property owned by other members of the family.

The Liberal Democrats have today released details of its pre-election themes and policy pledges which confirm it will scrap Child Trust Funds and introduce another higher rate tax bracket.

Shadow chancellor Oliver Letwin MP has published a consultation paper on savings taxation which suggests re-establishing the dividend tax credit for pension funds along with tax credits for offering financial advice could restore confidence in savings....

Further investigation of today's pre-Budget reports by HM Treasury indicates the government is considering a rise in income tax, capital gains and inheritance for the year 2005-06.

Government plans to reduce cash and equity-based Isa allowances next year could cost regular ISA savers a sum in the order of around £180,000 in lost tax-free interest over their working lives, suggests Intelligent Finance.