 | BBC Radio 4's Money Box Live Wednesday, 21 July 2010 at 1502 BST on Radio 4 and Online |
Creating a fairer and simpler tax system was a central theme of George Osborne's June Budget. Changes to personal and business tax are planned. The personal allowance for people aged under 65 will rise by £1,000 next April, meaning basic rate taxpayers will earn £7,475 before they start paying income tax. But a rise in the standard rate of Value Added Tax (VAT) from 17.5% to 20% on 4 January 2011 is not so popular. Higher rate tax payers are already facing more Capital Gains Tax (CGT). The rate rose from 18% to 28% on 23 June 2010. To support business, cuts were announced to corporation tax and the small companies tax rate, but there will also be reductions in capital and investment allowances. Do you understand the changes announced in the emergency budget? Are you paying the correct amount of tax and national insurance? Have you used your tax free allowances? Should you transfer any unused personal allowance to your spouse or civil partner? Maybe you are self employed or running a small business? You may want advice about business taxes or allowances. Whatever your question the panel were ready to help. Vincent Duggleby was joined by: • Leonie Kerswill, tax partner, PricewaterhouseCoopers • Jane Moore, tax faculty technical manager, Institute of Chartered Accountants of England and Wales • Mike Warburton, tax director, Grant Thornton Presenter: Vincent Duggleby
Producers: Diane Richardson
| 
BBC NEWS CHANNEL
News services
E-mail this to a friend 
Printable version 
Bookmark with:
What are these?