LONDON - The UK’s new Draft Finance Bill has been released, outlining a wealth of proposed tax changes, including new controlled foreign company rules, lowered tax rates, and measures to stop the occurrence tax evasion. On December 6th the Exchequer Secretary of the UK David Gauke released the government’s Draft Finance Bill 2012, setting out a number of changes to the tax system, including lowering the corporate income tax rate to 24 percent by 2013, reducing the rate of the national inheritance ... Read More

LONDON - The UK Chancellor of the Exchequer George Osborne outlined upcoming tax changes in the UK during the annual Autumn Statement. On November 29th the UK Chancellor of the Exchequer George Osborne delivered the annual Autumn Statement, in which he outlined the government’s upcoming intentions regarding the economy and fiscal policy. Under plans for boosting the nation’s economic expansion, the government of the UK announced a number of tax changes which are aimed at aiding small and medium sized enterprises in ... Read More

LONDON - The UK’s top marginal tax rate is actively driving high income earners out of the country, leaving middle and low income individuals to plug any arising budget gaps. On November 23rd the UK Centre for Economics and Business Research (CEBR) released a new report claiming that the country’s top marginal tax rate of 50 percent is not in sync with the realities of the modern business environment, and is encouraging high earning individuals to leave the UK, ultimately lowering the ... Read More

LONDON - The UK public is set to see a number of tax changes aimed at optimizing the national tax payment system and increasing intergration among different types of taxes and levies. On November 14th the UK HM Revenue and Customs (HMRC) published a public consultation paper on potential improvements to the tax payment system, named Modernizing the Administration of the Personal Tax System. According to Exchequer secretary to the Treasury David Gauke, the ultimate aim of the paper is to determine how to ... Read More

LONDON - The UK HM Revenue and Customs has assembled a new team of investigators to catch the country’s wealthiest tax evaders. In a statement released on October 31st the HM Revenue and Customs (HMRC) announced that it has put together a new team of taxation experts in an effort to conduct an increasing number of investigations into tax evasion by the wealthiest British taxpayers. The new tax investigations team is called the “Affluent Unit”, and will be primarily concerned with uncovering evidence of ... Read More