Income Tax

UK Betting industry enjoys £1 billion tax rebate

UK Betting industry enjoys £1 billion tax rebate

The news that the United Kingdom’s betting companies will get a hefty tax rebate of £1 billion (US$1.22 billion) was welcomed by the industry with a great enthusiasm and zeal, helping stocks valuat

American Gaming Association urges President Trump to revise tax threshold on slots

American Gaming Association urges President Trump to revise tax threshold on slots

The American Gaming Association (AGA) has once again urged President Donald Trump’s administration to review and update its old-fashioned gaming tax policy, including tax threshold on slots.

Obama Urges Citizens to Take Advantage Of Tax Benefits

As the Tax Day is approaching, President Barack Obama is advising Americans to benefit from the tax credits that are being offered to citizens including first-time homebuyers and college students.

Check your tax codes carefully

HM Revenue & Customs has set out twenty-five million tax codes. However, it is feared that potentially millions of taxpayers could be tangled in incorrect tax codes.

It is found that a number of people never check their tax codes to see if they are paying the correct amount of tax.

HMRC itself said that millions of people could get wrong tax code, with some people getting 3 to 4 different tax codes.

Thus, before paying tax, each taxpayer must check if his/her tax code is correct.

Some out of the several codes are:

Inheritance Tax will be Paid by About 4 Million Under Labour

It seems that inheritance tax is all set to become the new hot topic of discussion and controversy, especially with the elections looming large, after Conservatives have released figures which forecast that about 4 million people would be paying the tax imposed under Labour.

The analysis, in addition, also hints that the average bill for the so-called "death duty" would amount to some 60,000 Pounds for every estate, which marks an "about-turn" for the Conservatives, suggesting that the party might come out and fight heavily on the issue.

Henry review drops broad income tax cuts: report

The landmark tax review headed by Treasury secretary Ken Henry is expected to be devoid of any proposal for the broad income tax cuts.

The Weekend Australian reported that the Henry review, which was handed over to Federal Treasury boss Wayne Swan previous Wednesday, the major tax reform would be without tax cuts for all.

The report, citing the leaked content of the review, also said Henry report focus on revenue collection via a small set of general taxes.