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Landmark’s Blog
Tax, tax, and more tax
Published on 23rd April, 2009 at 10:46 by Eric Mowinski.
The chancellor has decided on a strategy of borrowing and taxation hang on to your wallet.
Yesterdays budget confirmed the chancellor is going to do two things as part of his strategy to deal with the current recession. The first is to spend and the second is to tax.
 Some headlines
 Top rate of tax increasing to 50%.
 Loss of pension tax relief at the higher rate for those earning over £150,000.
 Loss of personal allowance for those with for those with adjusted net income of £100,000.
 Smaller companies corporation tax rate increases to 22%.
 Increases in National Insurance.
 Higher rates of trust taxation.
 The list goes on……..
 The tax burden is getting heavier and will continue to do. The alarming point is the chancellor expects UK economic growth from 2011 to be 3.5% per annum. Which on our medium term forecast is not likely to happen. This growth rate is required to pay for the excessive borrowing.
 It has always been important for people to manage their financial affairs tax efficiently. The need for this now becomes a priority.
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Landmark Financial Planning is authorised and regulated by the Financial Services Authority. This report is based on information and opinion which are subject to change and for general information only. Do not act on this information without advice from your financial adviser. Accordingly neither Landmark Financial Planning Ltd, partner or employee will be liable in respect of any loss occasioned by any person as a result of such action or inaction.
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