September 29, 2012

Its a popular theme. Earlier this week Danny Alexander said to the wealthy ‘we are coming to get you’.

http://www.guardian.co.uk/politics/video/2012/sep/25/danny-alexander-tax-avoiders-video

When it comes to tax dodgers and moving money and assets overseas he may have a point but what about mansion tax covered in the same speach. Is a tax on property the way to go?

France now want their top earners to pay 75% tax!!

http://www.bbc.co.uk/news/world-europe-17189739

But will this just lead to businesses and individuals moving to lower tax countries?

Will the UK be a winner, the UK Government want us to have the lowest corporation tax rate in Europe and we are moving towards a main rate of 20%.

steve@bicknells.net

Bartercard has many charity members who all love getting donations http://belmontmail.co.uk/ZFF-YPOC-E24SJ4HO59/cr.aspx

But often charities and those making donation fail to claim the cash back relating to the donations, for example:

Gift Aid

25% tax refunds in cash http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingMoney/GivingMoneyToCharity/DG_10015097

This means that for every £1 donated, you can claim an extra 25 pence.

Individual Tax Relief

If you pay higher rate tax and make a donation through Gift Aid you can claim some tax back too.

Corporation Tax Relief

When your company makes a qualifying donation to a charity the amount paid is treated as a ‘non-trade charge’ – this means your company can make a claim in its Company Tax Return to set the amount of the donation against its taxable profits.

steve@bicknells.net