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Capital gains and wild exaggerations

We now know that the “Emergency Budget” will be on 22nd June. In the interim we will have further flapping about the headline rate of capital gains tax going up to the highest marginal income rate (40 or 50%), as opposed to the 18% flat rate we currently have for non-business assets and an effective 10% rate for business assets.

Well hang on, isn’t that what we had up to April 2008, only two years ago? The rate then was effectively 10% for business assets … Continue Reading

The 50 Day Budget and idle speculation

We have a new Government in place and a new fiscal policy which we will learn about in the coming weeks. We know that there are going to be tax rises and we know something of what they will be, as well as of other measures.

  • The National Insurance increase planned for April 2011 will be only for employees. The “jobs tax” element of the increase which would have been imposed by the previous administration is not going to take place; at least not until the economy and jobs market seems to be recovering.
  • The tax free income tax Personal Allowance will … Continue Reading