Posted in Income Tax
Savings income and dividends are taxed at the recipients' highest tax rate.
The relevant legislation in ITA07/S16 sets out the following rules.
If a person has savings income but no dividend income, the savings income is treated as the
Continue readingPosted in HMRC Notices
Special rules apply to transfers of income streams. The rules make it clear that the sale of an income stream – designed to turn economic income into a return that is treated by tax law as capital – is unlikely to work. For example, shareholders
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The Help to Save scheme can assist those on low incomes to boost their savings. The scheme was launched in September 2018 and new figures just published by HMRC have revealed that over 163,000 people have signed up depositing more than £53
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The First-Tier Tribunal (FTT) has recently published its decision in a long running case that focused on tax planning arrangements. This important decision represents a significant win for HMRC against a tax avoidance promoter in a case that has been
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