Extract
The New UK - What's Your Plan?
Executive summary
The change of Government has brought a new shape to the UK tax landscape for entrepreneurs and wealthy people, that creates both challenges and opportunities. On the one hand, the coalition Government wants everyone to pay their share towards restoring the public finances. That means a clampdown on tax avoidance where rules will be tightened and scrutiny will increase. On the other hand, the Chancellor has declared Britain "open for business" and has set out to make the tax system more stable, transparent and competitive. So what does this mean for you now? You can expect fewer short-term tax changes, less complexity, and more encouragement of entrepreneurship. Personal taxes are likely to stay at recent historic high rates as corporate taxes come down. To make the most of this new environment, it may be an appropriate time to replace short-term tactics with a more holistic, durable strategy. You need to check that your tax planning still actively supports the three-to-five-year goals for you, your family and your business. Structures that have proved effective for you in the past may not suit the new landscape. Now's the time to r...See the full content of this document
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