Declaration of independence

Article Abstract:

Married couples in the UK will be treated separately as individuals by the Inland Revenue as of April 6, 1990. Each spouse will have their own personal allowance and tax relief, and husbands will claim a married couple's allowance. For tax purpose, a wife's income will include her own investment income. The new regime ends the ability of a spouse to set losses against another's income. Each spouse will have their own capital gains exemptions. Because incomes will no longer be aggregated, tax planning necessitates the transfer of assets to create or increase the earned income of the lower income earning spouse.

---

Put asunder...but only for tax purposes

Article Abstract:

Proposals to the UK tax system would remove the discrimination against married couples and extend financial confidentiality to married women. Under the proposal, each spouse would have their own exemptions, married women receiving the equivalent of a single person's allowance and the basic rate band for her earnings. However, the losses of one spouse would not be able to be relieved against the income of the other spouse. Both spouses would have to complete separate income tax returns.

Tax accounting

---

What it costs to pay tax: policy issues

Article Abstract:

Currently, compliance costs are distributed disproportionally against small businesses. The situation worsens when government tries to trim administrative costs by shifting the weight of compliance over to taxpayers. Relief can come in the reduction of tax rate, or by simply providing the public with better-prepared, easier-to-read tax literature. Government can also compensate taxpayers for compliance costs in the form of direct compensation payments.

Similar abstracts:

• Abstracts: Start-up, organizational, and syndication costs in public sales. Tax focus on America's aging population
• Abstracts: Discussion of a model of two-tiered financial reporting. Trading volume and price reactions to public announcements
• Abstracts: IRS clarifies when economic performance is met by accrual-basis taxpayers
• Abstracts: The effects of budget goals and task interdependence on the level of and variance in performance: a research note
• Abstracts: A prescription for patient care. Foreign currency options. Secure business for an honest living

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.