The UK tax landscape continues to undergo significant change. In the Budget earlier this year the Chancellor made a number of announcements which could significantly alter the UK tax landscape. This was followed by the publication of a blockbuster Finance Bill, the longest in 20 years.
Our seminar will address these and other developments, including some of the many consultation exercises which are in progress. As well as summarising the main changes, we will highlight planning opportunities and potential pitfalls.
The speakers, and the topics they will cover, include:
The decrease in the additional rate of income tax to 45% from 6 April 2013 provides planning opportunities. Conversely, the proposed introduction of capital gains tax on the disposal of residential property owned by non-resident non-natural persons and the capping of personal tax reliefs are major changes which will have a substantial impact on UK tax payers.
Gill Smith, Head of Private Client Services
The introduction of Real Time Information for PAYE purposes from April 2013 and the integration of the operation of income tax and NICs will have a major impact on employers. On a positive note, the increase in the individual EMI option limit to £250,000 announced on 21 March was widely applauded.
Steve Durman, Head of Employer Support Group
Developments for businesses have generally been positive. As well as reductions in the main rate of corporation tax, they include liberalisation of the Enterprise Investment Scheme, a new CFC regime, and the introduction of the Patent Box and an above the line R&D credit. Smaller unincorporated businesses will also benefit from a simplified tax system.
Jacquelyn Kimber, Head of Business Tax.
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