Income tax

The Liberal Democrat leader, Nick Clegg, has called for national income tax to be cut by 4p to help boost consumer spending and support the economy.

Changes announced in the Budget mean the State Second Pension may not become flat-rate until 2035, four years later than planned, claims the Pensions Management Institute.

Gordon Brown's decision to cut the basic rate of income tax to 20% was clearly signposted by the proposals for tax relief on personal accounts, claims Standard Life.

The government will reduce the basic rate income tax rate to 20p from April 2008 but intends to remove the 10p non-savings tax rate and increase the higher rate tax threshold.

The Liberal Democrats party has unveiled a major shift in its tax policy, which includes propels to cut the basic rate of income tax and scrap plans for a 50p in the pound higher rate income tax rate.

UK residents with savings in Gibraltar will see those savings taxed at a rate of 15% from 1 April next year, rising to 35% after 2011 according to a deal just announced by paymaster general Dawn Primarolo and Peter Caruana, chief minister of Gibraltar....

As many as 8.3 million people in the UK would agree to an increase in income tax as a means of solving the pensions crisis, new research indicates.

The Treasury says it needs further guidance on whether proposed real estate investment trusts (REITs)should be listed on the stock exchange.

MARRIED COUPLES could be disadvantaged by changes to tax legislation from December to accommodate new laws recognising gay and lesbian relationships, says the Daily Telegraph.

Paymaster general Dawn Primarolo has confirmed there will be no retrospective taxation of pre-owned assets where an individual is still living in a property owned by other members of the family.