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Posts by Johnny Minford

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Furnished Holiday Lets

person Johnny Minford
As part of the 2009 budget, and somewhat out of the public gaze, the chancellor announced that he will be repealing the Furnished Holiday Let rules from April 2010. For a property which met the letting conditions, furnished holiday lets have benefitted from a number of reliefs not normally available to the owners of let…
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Budget Summary 2010

person Johnny Minford
Income Tax As part of the government’s aim to raise the personal income tax allowance to £10,000 over the next five years, the personal allowance is to be increased by £1,000 to £7,475 from 6th April 2011. To avoid higher rate earners benefiting from the increase in personal allowances, the higher rate tax threshold will…
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Taxation of High Earning Individuals

person Johnny Minford
A number of measures were introduced by the previous government to increase the tax burden on so-called high earning persons: A new higher rate of tax applies to taxable income above £150,000 as of the 6th April 2010. The new higher rate of tax will be 50%, with the dividend rate increasing to 42.5% for…
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Post election

person Johnny Minford
The budget made by the previous Chancellor, Alistair Darling, had the feel of a pre-election budget, but this was not because of any enormous give-aways. Sure, there were some political lollipops handed out to the faithful, but what really made it feel “pre-election” was the absence of the tax rises which have been widely expected.…
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