Video Report: New top tax rate could be here for some time say experts

TAX specialists believe that the new 50% income tax rate being introduced in April is likely to be with us for several years.

Experts including Ian Archibald from accountants Mazars, Frances Davies of law firm Gordons and Christine Ross, group head of financial planning at wealth manager SG Hambros, were speaking to an audience of more than 60 entrepreneurs and business leaders at the latest seminar hosted by TheBusinessDesk.com.

All three speakers agreed that the depth of the UK’s national deficit means that whichever party wins this year’s General Election, they are unlikely to look to reverse Labour Chancellor Alastair Darling’s introduction of the new top rate tax bracket for people earning more than £150,000 in April.

You can watch short edited highlights of each speakers’ presentation and the panel question and answer session by clicking on the video screens below

Ian Archibald, tax partner at Mazars, focused on how business people can minimise their tax liability before the introduction of the 50% tax band.

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Frances Davies, head of personal law at Gordons, looked at the tax efficiency of wills, capital gains tax and trusts.

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Christine Ross of SG Hambros gave the audience advice on ‘Preparing for the 50% World’ and focused on subjects including long-term deferral and investment wrappers.

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The panel of experts took questions from audience at the event, to watch the Q&A panel discussion click on the screen below.

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