Nov 2020 OTS report said a reduction to £6,000 in CGT AEA would result in 235,000 more individuals needing to report a capital gain and could generate £480m in additional revenues in 1st year. (About 96,000 of the affected taxpayers would already routinely file SA tax returns.)
The 23rd Cross Atlantic & European Tax Symposium, in association with @CIOTEuropeTax and the @GlobalIFA UK Branch, is underway!
We couldn't be happier to be welcoming #tax and #internationaltax professionals from around the world!
Chancellor announcing #AutumnStatement tax measures -
Reducing the threshold for 45p rate from £150K to £125,140. Other IT thresholds frozen until 2028.
Dividend allowance cut from £2,000 to £1,000 (2023) then £500 (2024)
CGT allowance down to £6,000 (2023) then £3,000 (2024)
From April 2023 the rate at which people pay the additional rate of income tax, charged at 45%, will change from £150k to those earning over £125,140.
This is a measure to ensure those with the highest incomes contribute more to help strengthen public finances. #AutumnStatement
Join CIOT and ATT across our new "Employer Webinar Series". The first webinar is on Monday 31 October: "Attract & Retain the Best Talent in Tax". Register to reserve your place today to hear from likeminded employers: https://t.co/JE33I5ERZ6 #recruitment#webinar#tax#talent
.@CommonsPAC about to begin session with @HMRCgovuk. Watch on link below and/or follow our liveblog:
https://t.co/dyr5Nfpu3B
In our evidence to PAC we raised HMRC service standards, repayment agents and the tax gap as well as fraud & error. Hopefully PAC will ask about these too.
@CIPP_UK Payroll Excellence Awards last night. Massive congrats to the winners. Fab event but my evening was made by my table company inc the lovely @clarebalding & that she was interested in talking tax but then again I don’t know much about sport. Thank you CIPP. @CIOTNews
8 days ago the Chancellor launched his Growth Plan.
In 2 days time he makes his big conference speech.
Join our panel at #CPC22 or online, before, during and after Monday's speech, to discuss the govt's plans and what they mean for households & the economy
https://t.co/TTIDDGvh63
Chancellor: Income tax – additional (45p) rate being abolished, simplifying tax system
Basic rate of IT will be cut to 19p in April 2023 (a year early)
Fantastic evening hosting CIOT’s Parliamentary Reception. Thank you @lucyfrazermp @cmackinlay for speaking. On an important day for British Politics I spoke to our guests about the need for tax simplification, MTD and #HMRC service level improvements. @RSMUK@CIOTNEWS