WA59

Call for tax on investments to be simplified

The Investment Management Association (IMA) has called for the introduction of a less complicated system for the taxation of investments.

According to the IMA, income and capital gains tax should be replaced with a single 15% savings tax.

This offers an alternative to the current system, whereby equity and bond investments can be liable for different tax rates.

IMA head Richard Saunders said, 'The Government has already collapsed eight pension tax regimes into one and the same is possible for the taxation of funds'.

The IMA also suggested that scrapping ISAs would mean that the savings tax could be lowered to 5%.

PLEASE CONTACT US ABOUT OTHER NEWS ITEMS FROM WA1 to WA84

Walderslade Accounting have invested in a monthly subscription service provided by leading accounting industry experts. We are licensed to pass this benefit onto our existing clients to keep them right up-to-date with emerging tax rules and potential benefits to businesses.

If you are not an existing client: If you are not an existing client of Walderslade Accounting Services, you too can benefit from these Monthly News Memoranda's, simply click here to contact us for further information.