In its 1997 manifesto, Labour pledged that its Government would be made up of “wise spenders, not big spenders”. Has it kept the pledge? It doesn’t look like it. In the space of a decade, …
How fast have taxes risen? Gordon Brown has raised taxes by 50% in cash terms and 24% in real terms since taking over the Treasury, according to shadow chancellor Oliver Letwin. That includes 60 “stealth …
The bad news Isas: From 2006-7, the maximum investment in an Isa will be cut from £7,000 to £5,000 (and the maximum in a cash Isa from £3,000 to 1,000). Higher-rate taxpayers “will be better …
If you are planning to give to charity over the festive season, make sure you do so in the most tax-efficient manner. Two-thirds of us still don’t even think about tax when we give, but …
Are you richer than you think? The Government has given the financial services industry nine months to reunite an estimated £20bn of unclaimed cash with its rightful owners before it is turned over to the …
Prior to the introduction of the ‘gifts with reservation’ rules, people used to give their assets away, yet still enjoy the use of them, says the Schmidt Report. That is no longer possible and any …
The Inland Revenue’s (IR) crackdown on tax avoidance is bad news for all those who fill out self-assessment tax returns. Every year, HM Revenue & Customs launches inquiries into around 250,000, or nearly 3%, of …
If you’re thinking of becoming non-resident for tax reasons, try Canada, says the Schmidt Offshore Report. Though it is a high-tax jurisdiction, new residents can escape tax for up to five years (before moving on), …
A new pension was launched this week which promises to be even cheaper than stakeholders. The Lifetime Account will charge a flat £35 a year, an amount that is significantly less than the standard level …
Parents who want to send their children to private schools need to start saving while they are in nappies. Around 7% of children – more than 600,000 pupils – now attend independent schools and that …