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Richard Teather

Richard Teather, is a renowned European tax specialist, consultant, writer and commentator. He began his career as a tax consultant in the City following a law degree at Oxford University. An expert in the field of UK tax he is also an advisor on tax reform to political parties and the state of Jersey. Richard is the author of numerous publications, including: The Benefits of Tax Competition. His works have been cited or translated into ten foreign languages. He is also a senior lecturer in tax law at Bournemouth University and Editor of Finance Confidential.

 
 
Pre-Budget Report: Too Little Too Late For Small Business - by Richard Teather

More toxic fallout from the pre-Budget Report this week; Alistair Darling must be wondering why he took the job. We covered some of the problems he introduced, and the good news is that the government is now said to be preparing for a U-turn on at least one of those. The bad news is that it's really more a wobble than a U-turn. Anyone thinking of selling a business will have to keep an eye on this. Should you do it before April, to get the last of the taper relief, or hang on for a vaguely offered retirement relief next year?


Bye Buy-To-Let? - by Richard Teather

Darlings capital gains tax reforms have been heralded as good news for buy-to-let investors. Under the old system, unless you were selling a business asset (which buy-to-lets arent), taper relief would give you a tax rate between 40% and 26%, depending on how long youd owned it. But that is all to be swept away, and everyone will pay a flat 18%. Thats a big tax reduction, but is it really good news?


AIM Less Tax Break - by Richard Teather

AIM shares are treated as unlisted. So provided the company qualifies as trading, your shareholding will be a business asset for taper relief purposes. This is obviously a big advantage. But taper relief is being abolished from April 2008. Instead there will be a flat rate of 18% for all capital gains. There will no longer be any capital gains tax advantage to AIM shares, so AIM investments will be less attractive. This could have a major impact on your AIM investments. Whats more, if many people are investing in AIM solely because of the tax advantages, then there could be a more general collapse.


Tax reform...at last! - by Richard Teather

Alistair Darling has got off to a good start as a tax-reformer. His first pre-Budget report has not only cut capital gains tax to 18%, but rescued millions of families from inheritance tax as well.. The Treasury is giving us the tax break that they previously fought hard to stop us arranging for ourselves. Its just a shame that they couldnt have done this ten years ago when house prices started to rise; it would have saved a lot of distress and expense.



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