Osborne Weighs Up Tax Hike Options ; Vat Capital Gains Tax Income Tax Property Pensions & Savings
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Summary
The new coalition Government at Westminster has promised an emergency Budget within 50 days. Some changes could be made immediately, such as a hike in value added tax, but other changes, such as the planned increases in capital gains tax and personal tax allowances, usually coincide with the beginning of a tax year.
Or the new Chancellor may break with tradition and make all the big changes on Budget day itself, likely to be before the end of June.See the full content of this document
Extract
Osborne Weighs Up Tax Hike Options ; Vat Capital Gains Tax Income Tax Property Pensions & Savings
Both coalition partners have agreed spending cuts will take precedence over tax increases as the main tool for cutting Government borrowing. But taxes will still have to rise.
One of the first to increase is expected to be VAT. Mike McCusker, tax partner at PricewaterhouseCoopers...See the full content of this document
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