38 finance


 


Recent weeks have seen increased press speculation calling for the abolition of the 50% top tax rate of income tax even though it was only introduced from April 2010. ‘There is now a strong possibility that chancellor George Osborne will bow to this rising political pressure and abolish the 50% top tax rate on total income above £150,000 per year as early as next April’ says Harwood Hutton tax partner, Cormac Marum, who regularly comments at Budget time for the London Evening Standard. What should owner managers do in the light of this increasing speculation?


      help restore the public finances as the           


   this potential change in fiscal strategy.


      to leave the open market price payable            


     possible, the transfer of income between spouses. With interest returns now 


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 to the spouse previously with the lower           


   to go for capital growth rather than income. Income from such investments       back to investments with income rather   


      the sensible approach will be to reverse        


 restricting their income so that they stay    


THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2011


they may pay no more than an effective     


 owner managers may wish to take their money temporarily by way of a loan        loan at the official rate, no  


 strategies which owner managers can employ. More  remains possible for those 


Details: Cormac Marum 01494-739500 www.harwoodhutton.co.uk


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