50% TAX RATE By: Clare

Treasury figures show that the 50% top rate of tax will raise an additional £12.6bn over five years.

The government has always claimed that this is a temporary tax, but a final decision regarding its future is not now expected until after the self assessment deadline in January 2012.

A letter from 20 leading economists to the Financial Times called for the 50% top rate to be scrapped as it was harming economic growth.

For more details or to check your tax position, please call Haxton Chartered Accountants West London.