Pre-budget review
Article Abstract:
The UK government is likely to try to please the middle classes in its Nov 1995 Budget. This means that the basic rate of income tax will probably be reduced and bands will undergo extension. Capital gains tax needs simplification, and reinvestment relief may be extended. Inheritance tax may be eased, and National Insurance contributions may cover payments in kind. Little change is likely for savings. There are likely to be benign changes in the Budget as a whole, and investors should be concerned about the next Budget.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Budget: better-looking bonds
Article Abstract:
Taxes on savings have been cut to 20% in the UK Nov 1995 Budget. Higher rate tax payers cashing in certain products such as single premium bonds can benefit from a lower tax rate since they are considered to have already paid 24%, though 20% is paid inside the fund. Insurance bonds thus become a better investment for those in the higher rate tax bracket. Tessas and personal equity plans, which are free of tax, are still attractive investments for higher rate tax payers.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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