More pre-Budget Statement rumours…
December 8th, 2009All will be revealed this time tomorrow, but a summary of the latest rumours is as follows:
- A windfall tax on “extraordinarily high” bankers’ bonuses
- A limitation of loss relief for banks
- An extension of next year´s 50% income tax “additional rate” to all those earning over £100,000
- The removal of higher rate tax relief on pension contributions for all
- Further increases to National Insurance
- A removal of tax free income and gains for registered pension schemes ie the taxation of pension fund gains and income
- A “mansion tax” – a kind of wealth tax for £2m plus property
- A freezing of the IHT nil rate band
- An increase in the IHT rate to 50%
- An increase in the CGT rate from 18% to 25%
- An alignment of the CGT rate with income tax
EBS will publish a summary of the actual PBS content tomorrow, if you have any questions, please get in touch.
