Taxing time for UK High Earners

High earners targeted in UK drive to increase tax income - The Irish Times - Wed, Sep 26, 2012: "HIGHER EARNERS in the United Kingdom are to face higher taxes, while additional tax officials are to target people with offshore bank accounts in Liechtenstein and other tax havens as part of an effort to find £16 billion in savings and taxes in coming years, a senior British minister has said.

However, the threshold to be used to identify higher earners remains unclear, following contradictory signals at yesterday’s Liberal Democrats annual conference in Brighton. The average British salary is about £24,000 a year – anyone earning more than £50,000 a year is included in the top 10 per cent.

On being questioned, Lib Dem leader and deputy prime minister Nick Clegg said he was not focused “on the whole 10 per cent”, while chief secretary to the treasury Danny Alexander announced that a special Revenue and Customs unit would target those with more than £1 million in assets."

'via Blog this'