The Government's 2014 Autumn Statement included an announcement that rules would be introduced from 6 April 2015 to ensure that certain
The announcement in the Pre-Budget Report regarding the bank payroll tax continues to cause disquiet not least because of the uncertainty which it creates.
The main announcement in the Pre-Budget Report 2009 (PBR) of interest to the investment funds sector was the fact that the new, temporary 50 bank payroll tax will be levied not just on banks but on other "taxable companies" to the extent that they pay their employees bonuses exceeding £25,000 (Bank Payroll Tax).
The UK Government’s Pre-Budget Report, issued on 9 December 2009, contained two significant measures relevant to UK fund managers.
It is now less than five months before the new 50 personal income tax rate (for earnings above £150,000) is a reality.
Alistair Darling's proposed measures on the reform of the capital gains tax regime will be significant for investors in investment funds and also those investment managers holding interests in management companies and manager LLPs or carried interests.
On October 9, the UK Chancellor of the Exchequer, Alistair Darling, announced changes to the Investment Management Exemption (IME) in his Pre-Budget Report to the House of Commons.