Non-domiciled residents who have lived in the UK for seven out of the last ten years will have to pay a levy of £30,000 to avoid paying tax on their foreign earnings, it has been announced.
The review of HMRC's powers, deterrents and safeguards will continue into 2008 following the consultations issued in 2007. To re-cap on the new regime which applies from 6 April 2008:
In his first budget Alistair Darling announced that the government will not be enacting its proposed legislation to combat what it terms as "income shifting".
Recent budgets have contained an ever-increasing swathe of anti-avoidance measures, and this year's was no exception. Here's a run-down of HMRC's latest fire-fighting techniques.
We asked our West Country general practitioner for his initial take on Alistair Darling’s first Budget.
Reduced burdens for providers
Headline-grabbing reforms to the capital allowance system will offer 100% first year tax credits for designated energy-saving and environmentally beneficial plant and machinery, and 100% allowances
Alistair Darling's first budget as chancellor today confirmed that the government's new Capital Gains Tax reforms will be implemented next month.
UK Charities and Community Sports Clubs (CASCs) claiming Gift Aid repayments will be entitled to transitional relief under new plans outlined in the 2008 Budget.