The UK's Tax Freedom Day – the day when Britons stop working for the Chancellor and start working for themselves – falls today, 29th of May.
The Adam Smith Institute has calculated that, for 149 days of the year, every penny earned by the average UK resident will be taken by the government in tax. This year’s Tax Freedom Day falls two days later than it did in 2011.
There is more on this on the Adam Smith Institute page:
http://www.adamsmith.org/blog/tax-spending/today-is-tax-freedom-day-2012
Hilariously they also say: “In the Middle Ages a serf only had to work four months of the year for the feudal landlord, whereas in modern Britain people have to toil five months for Osborne’s tax gatherers.”
Showing posts with label tax. Show all posts
Showing posts with label tax. Show all posts
Tuesday, 29 May 2012
Thursday, 22 March 2012
Tax tables – March 2012
Please find below a link to our tax tables, outlining the key tax data in George Osborne’s Budget of 21 March. The Chancellor unveiled a range of measures that left no doubt that the ‘age of austerity’ is not yet over – though thanks to a steady stream of pre-Budget announcements and leaks, Mr Osborne had little to offer in the way of surprises.
The Budget highlights included:
• The personal allowance will be increased to £9,205 in 2013/14, but the higher rate threshold will be reduced by £1,025 to £41,450.
• There will be a limit on the maximum amount of income tax reliefs that can be claimed from 2013/14.
• As expected, from 2013/14 there will be a drop in the higher rate of income tax from 50% to 45%.
• The so-called ‘mansion tax’ has taken the form of higher stamp duty on house sales over £2 million.
• Child benefit is to be phased out where income is over £50,000.
The tax tables are available for download on the website at: www.iangreen.com/taxtables.pdf
or to view at www.facebook.com/GreenFinancial
These will be joined by budget summaries and other info in the days to come.
We trust that you find the enclosed tax rates useful, and that you find them to be a helpful basis for a discussion with us about your financial future.
The Budget highlights included:
• The personal allowance will be increased to £9,205 in 2013/14, but the higher rate threshold will be reduced by £1,025 to £41,450.
• There will be a limit on the maximum amount of income tax reliefs that can be claimed from 2013/14.
• As expected, from 2013/14 there will be a drop in the higher rate of income tax from 50% to 45%.
• The so-called ‘mansion tax’ has taken the form of higher stamp duty on house sales over £2 million.
• Child benefit is to be phased out where income is over £50,000.
The tax tables are available for download on the website at: www.iangreen.com/taxtables.pdf
or to view at www.facebook.com/GreenFinancial
These will be joined by budget summaries and other info in the days to come.
We trust that you find the enclosed tax rates useful, and that you find them to be a helpful basis for a discussion with us about your financial future.
Friday, 17 February 2012
Tuesday, 26 July 2011
Tax & Wealth Tips 2011/12
50 tips, split into chapters, covering
- Personal & family
- Property
- Retirement
- Savings & investment
- Business
- Employment
- Overseas income
- Your estate
- General approach
http://www.iangreen.com/GFA-Tax&WealthTips2011.pdf
After the budget 2011I had to wait until the Finance Act was given royal assent. This happened on July 19 2011. So now I have been able to produce this. I hope you find it useful and it saves you money.
The aim is that the tips act as a prompt, either to review, take action or contact me for further information.
Please remember the guide is just that, a guide. It should not be taken as advice to any specific person.
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