tax

PARENTS COULD be hit by a marginal income tax rate of 78% because of the complex way benefits and taxes interact, leading accountants argue in the Daily Telegraph .

The Association of Consulting Actuaries has proposed a tax framework for residual pensions in response to a HM Revenue and Customs discussion paper on inheritance tax and pensions simplification.

THE CONSERVATIVE Party is said to be looking at the prospect of a "flat tax" as part of a review of the tax system, according to the Times .

MOTORISTS ARE being warned petrol prices are now certain to pass £1 a litre over the next few days as Hurricane Katrina has wiped out many of the oil refineries on the US Gulf coast, reports the Guardian .

Financial advisers may be missing a business opportunity, suggests Alliance and Leicester International, as few expatriates save money once they leave the UK despite improved financial positions.

PENSION CONTRIBUTIONS should be compulsory for all employees, the Daily Telegraph quotes a leading business group as saying.

Tax burdens will be lightened and tax may even be returned by HM Revenue & Customs after a review of its previous stance on VAT affecting cases of landlord-tenant contracts.

GEOFF AND DIANA JONES are taking their dispute with the Inland Revenue over their family partnerships tax affairs to the Court of Appeal, says this morning's Daily Telegraph.

France's rejection of the EU constitution dominates this morning's papers with the Scotsman reporting the Federation of Small Businesses welcomed the announcement.

With-profits policyholders could still see further losses to their policies over the coming years as the government is currently pushing ahead with plans to implement a 30% "with-profits" tax on surplus with-profits assets.