Blog

The Chancellor of the Exchequer George Osborne stands up next Wednesday 5 December to make his Autumn statement.

Below are several thoughts on tax some but not all related to the tax year end on 5 April 2012.These comments are by their nature general and any action needs to take into account the wider commercial or family context.

Topical headline tax changes for the new tax year some but not all announced in the budget.This is not comprehensive but hopefully all clients and friends will find at least two or three items below relevant or of interest.

The new Conservative Liberal government have announced in their coalition document that CGT is very likely to rise in the first budget of the new government. The current historic low rate is 18%.

We are fast approaching the end of the current tax year (5 April 2010) and now is an ideal time to review your financial affairs to ensure that they are as tax efficient as possible.

Do you own property in Europe... Has it made a loss in any tax year since 2006/07?

The new marginal rate of income tax of 50% applies to income over £150,000 starting from April 2010.

Under the Cycle To Work scheme an employee is allowed the tax and National Insurance free use of a bicycle for a period agreed between the parties but typically say three to four years.

Even for pure advisory clients I find the process of completing the return helps identify areas in which a client had not realised there might be savings.