tax

HM Revenue & Customs (HMRC) is expected to extend its tax on rebates to some discount brokers, even on funds held inside an ISA.

A spate of professional negligence claims have been lodged against the promoters of tax avoidance schemes - including advisers - following a clampdown by HM Revenue & Customs (HMRC), according to Reynolds Porter Chamberlain (RPC), the City law firm.

HM Revenue & Customs's (HMRC's) decision to tax unit and cash rebates could violate UK case law on competition, according to a platform consultancy.

Last week Her Majesty's Revenue & Customs (HMRC) confirmed the widely expected decision it will be taxing fund rebates paid to consumers, as it considers such payments to be income.

The Tax Incentivised Savings Association (TISA) is writing to the Treasury to ask for a one-year delay on the proposed rebate tax, after estimating the costs to the industry far outweigh the tax likely to be recouped.

Plans to allow "zombie" child trust funds (CTFs) to be switched to Junior ISAs could see savers £7,500 better off.

The threshold at which people begin to pay income tax will rise to £10,000 in 2014, a year earlier than planned, the Chancellor announced today.

Chancellor George Osborne has announced in today's Budget that the government is embarking on a programme to crack down on "aggressive" tax avoidance measures.

The Chancellor is expected to offer a lifeline to six million children by allowing savings in child trust funds (CTFs) to be switched into Junior ISAs (JISAs).

CRYSTAL BALL