On 29 December 2012, the Constitutional Council considered incompatible the temporary 75% tax rate on high income earners with the French Constitution. The 75% rate was supposed to apply to the part of the income exceeding EUR 1 million and be levied only for fiscal years 2013 and 2014. The 75% tax rate for high […]
HM Treasury have announced that the Individual Savings Account (ISA) limit for 2013-14 will be GBP 11,520 ( previously GBP 11,280), of which up to GBP 5,760 (previously GBP 5,640) may be saved in cash. Junior ISA investment allowance, and the Child Trust Fund investment allowance, will each be increased to GBP 3,720 (from GBP […]
On 22 November 2012, by way of Double Taxation Relief (Bank Levy) (Federal Republic of Germany) Order 2012, the United Kingdom approved the agreement and protocol between Germany and the United Kingdom on double charging of bank levies.
On 3 December 2012, the Cayman Islands and Italy signed an exchange of information agreement relating to tax matters.
On 5 December 2012, the Chancellor of the Exchequer delivered the Autumn Statement to Parliament. The Autumn Statement contains an indication of proposed legislation for the Budget of 2013 and subsequent years. The main tax proposals are set out below. Individual taxation The basic personal allowance for 2013-14 will be increased to GBP 9,440. The […]
