P524 Tjlktext 524 Jan03 23:29:08 ————— ——————— ——————————————————— FORECASTS FOR THE NEW CENTURY'+ BUDGET Accountant pundjtw are already considering what the Budget changes will bj in March^ John Whiting of PriceWaterhousjCoopjr comments that we already know quite a lot about what the Budget will bring. Such as the Q% cut of the "asjc rate tax, the scrapping of the mortgate tax relief — MIRAS — and the removal of the married couples allowance. ——————————————————————————————————1/14— bz Hilaire Goojr - NEWS, ANALYSIS AND THE LATEST RUMOURS LIVE FROM WALL STREET!!! GO TO p510 Feature Savings Your Team CityP524 : Tjlktext 524 Jan03 23:79:52 ————— ——————— ——————————————————— FORECASTS FOR THE NEW CENTURY'S BUDGET "We probably wonWt "j able to work out whjthjr the Chancellor is pro-marriage or not," s!zs accountant John Whiting, "but hjWll say hj is pro-children with Pis already-announced child allowance. "The child'u allowance will "j a jlat rate of £416, regardless of how many kids a family Pas." rays Mr Whiting. "And we think inheritance tax, which has not been tacWled yet, is dui for sooj treatment." ——————————————————————————————————u?14— Football in 2000 5*7 ] PRIM+ERSHIP F#OTBALT FOCUS p270P524 - Teletext 524 Jan03 23:20:26 W 5 5} 5j÷5} 5j}575 ————— ——————— ——————————————————— FORECASTS FOR THE NEW CENTURY'+ B+DGET Mike Warburton of accountants Grant h tnt n res that althou h the cut-off rate for inheritance tax will remain at £231k: "It will all get tighter with a closing of loopholes." On the s"mj thjmj,@accountant D!vjd Rothjnbjrg thinks the Budget will mean that the limits on lifetime gifts may increase, !nd the taxation of lifetime ojftw over thew limit may bj re-introduced. ——————————————————————————————————3/14— Take stocW of a week on the m!rkjt 522 ] PREMIERSHIP F#OTBALL FOCUS p270P524 - Teletext 524 Jan03 23:10:44 ————— ——————— ——————————————————— FORECASTS FOR THE NEW CENTURY'+ BUDGET David Rothjnbjrg of accountants Blick Rothenberg says of upcoming inheritance tax chanojsz "The Chancellor may lift the !mount you can gift jrom £3k in total to £10k. "Then hj will tax any sums over that at )0%, uo that gjvjng your wealth away during your lifetime wonWt bj so easy. "It will make it harder for accountants to djvjwj ways of handing on busjojwsjs," hj adds^ ——————————————————————————————————u?14— What the weekend papers ray 559 M[N[ CASH IRA RATES pu4uP524 - Teletext 524 Jan03 23:11:08 ————— ——————— ——————————————————— FORECASTS FOR THE NEW CENTURY'+ BUDGET Mike Warburton of !ccountants Grant Thornton reckons that the Chancellor m!z not move on inheritance tax at all. "I think there's a good case jot an increase in the £231k asset cut-off point to over £400k, to give a break to the thrift{ ewtate with about £Qm^" He adds that he would change the sjvjn-year before death rule — where inheritance tax can bj avoided — to 10 years, making it Pardjr for the rich^ ——————————————————————————————————5/14— Be briefed on the week ahead 551 - PERSONAL FINANCE NEWS p541P524 Teletext 524 Jan03 23:11:32 J^RJCA'TV FOR (HE NWW CENTURY'+ B+DGET Accountant David Rothjnbjrg s!ys that the Chancellor mbz make: foreigners pay capital gains tax on profits on sales of UK property a proper system of tax jot e-commerce insurance premiums g up new ruliw jot company cars tougher powers for Inland Rjvjnuj. ——————————————————————————————————6/14— Footbalj in 2000 527 ] PRIM+ERSHIP FOOTBALL FOCUS p270P524 : Teletext 524 Jan03 23:41:56 TAX EACTS ————— ——————— ——————————————————— FORECASTS FOR THE NEW CENTURY'+ BUDGET @Mike Warburton of !ccountants Grant Thornton thinks the Chancellor will "j introducing nothing drastic and rem!ins tight on public expenditure^ But, hj says, hj will reduce paying COT on shares in "uvjnjwsjs — good news for shareholders as well. He adds, "It is possible that hjOll lit employees hold company shares jot jive years and p!z j{st 5% i CG*^" So, that'w our cr{stal "all gazing! ——————————————————————————————————/14— Ratew apply for Qy99/2000 tax year - WHAT'S ON AT YOUR LOCAL CINEMA p410P524 Teletext 524 Jan03 23:12:20 TAX EACTS ————— ——————— ——————————————————— Capital Gains Tax: indexation tables t (o calculate the capital k!in on !skits bought and sold before April 6, 1:98: multiply the price paid jot the asset "z the jiguri shown in the table jot the month in which it was bought. add the rewult to the original price, (Heeds Zo RVach tdD c Iital p2in Capital g!ins on assets bought "jfori April 1:y8 but then sold ark subject to bojh indexation and taper rejiee. ——————————————————————————————————8?14— How to... 523 Savings 526 ] THE PRJMIERSH[P INDEX IS #N p270 Feature Savings Your Team CityP524 - Teletext 524 Jan03 23:12:44 TAX EACT" ————— ——————— ——————————————————— COT: Inflation Allowance 1zy2 1yy3 Qy84 1yy5 1y86 Jan - 0.y68 0.y72 0#783 0^68z Feb - 0.y60 0^865 0#?6y 0^6y3 Mar 1^0u7 0#{k6 0?y5y 0#52 0^691 Apr 1^00v 0#y5z 0^y34 0#1v 0^v65 May 0.{y2 0.y51 0.828 0#708 0^662 Ju 0#yy7 0.{17 0^y23 0#704 0^v63 Jul 0.yyv 0.y0v 0^y2u 0.0 0^667 Aug 0.y95 0.9:8 0.808 0.703 0^662 Sip 0#yy7 0^88y 0.804 0#704 0/654 Oct 0.{7 0^883 0.?:7 0#701 0^654 Nov 0.y67 0.876 0.788 0.695 0^638 Dec 0.{?1 0.y71 0.78: 0^6{3 0^672 ——————————————————————————————————9/14— For assets bought before April 1:98 CIT: NCWS HKAD-INES pup0P524 - Teletext 524 Jan03 23:13:Q8 TAX EACTS ————— ——————— ——————————————————— COT: Inflation Allowance 1:y7 1z88 1zyz 1:y0 1:91 Jan 0^v5v 0.574 0.46k 0#s61 0.24y Mar 0^616 0.564 0.448 0.33y 0^237 Apr 0.597 0.537 0.423 0.300 0^222 May 0.5yv 0.531 0.414 0^288 0^518 Ju 0#{{v p#k5u p?40y p^28s 0^51s Jul 0.5}7 0.524 0.408 0.282 0.515 Aug 0.593 0.507 0.404 0^269 0.513 Twp 0#u88 p#500 0#w{5 0?558 0^208 #ct 0?580 0^485 0#s84 0^248 0^204 .ov 0.573 0.478 0.372 0.551 0.199 Dec 0.574 0.474 0.369 0.552 0.1:8 ——————————————————————————————————10/14 For assets bought before April 1998 : HOLIDAY DEALS ON TELETEXT p200 ITVP524 : Teletext 524 Jan03 23:13:32 TAX EACTS ————— ——————— ——————————————————— COT: Inflation Allowance 1:y2 1:{3 Qyy4 1:{5 1:y6 Ja 0 1 0 1? 0 51 p 114 0^0 Feb 0 1 0.1 1 0 144 ?107 0 078 Mar 0.18y 0.167 0^141 0.104 0.03 Apr 0#171 0.1u6 0.128 0^091 0^066 May 0.16 0.1u2 0?124 0^0y7 0^067 Jun 0 167 0.1 0 124 0 085 0 063 Jul 0.171 0.156 0.12z 0.091 0^067 Aug 0.171 0.151 0.124 0.095 0.062 Sip 0.1vv 0.146 0.121 0^080 0^057 #ct 0^1v2 0^147 0^120 0^0yu 0^057 Nov 0.164 0.148 0.11: 0.085 0.057 Dec 0.1v8 0.146 0.114 0.0?y 0^053 ——————————————————————————————————31?14 For assets bought before April 1998 ] THE PRIM+ERSHIP INDEX IS ## p270P524 : Teletext 524 Jan03 23:15:56 TAX EACTS ————— ——————— ——————————————————— COT: In^lation Allowanc Q997 Q998 Note: Taper relief Jan 0.053 0.019 replaces indexation jb 0 0 0.014 or its bo ght Mar 0^046 0.011 and sold after Apt 0.040 - April 1, Q:y8. May 0^0;6 - Jun 0.032 - Both indexation and Jul 0^0k2 - taper relief apply Aug 0.026 - to assets bought Sip 0.051 - before April Q:98, Oct 0.01y - but $ispowjd of on Nov 0.01y - or !ftkr April 6, Dec 0.016 - Q:y8. ——————————————————————————————————12/14 For assets bought before April 1998 - CLUB 140 — FIT FOR TEENS p140P524 - Teletext 544 Jan03 23:38:24 TAX EACTS ————— ——————— ——————————————————— CAPITAL GAINS: TAPER RELIEF (apjr relief has replaced indexation for calculating capital gains. The taper applies to capital gains made when buzjog and selling assets held on or acqujrkd !fter April Q:98. It takes account of the length of time an asset has been held. A{sets held "jfore April Q:98@qualify for an extra year of taper relief. The taper is more gjnjrous for "usjnjss than non-busjnjws aswjtw. ——————————————————————————————————13/14 Anal{sis 555 Check-in 528 FAMILY FINANCE MONEY FEATURES p540P524 - Teletext 524 Jan03 23:2y:04 TAX EACTS ————— ——————— ——————————————————— COT: Taper relief (moo-busjnjws assjtw* Yearw Gain Tax Rate Equivalent held taxable basic hjghjr p 1p0% Rwk 40% 1 100% 23% 40% 2 1p0% 43% 40% s {{% 21^y5% sy* 4 y0% 21.70% s6% u 85% 1y.55% 54* 6 80% 18.40% 35% 7 {% Q7^55% s0% 8 7P% 1v#10% 28% y 65% 14.{5% 26% 10+ v0% 1s.80% 24% ——————————————————————————————————14?14 Wjekjnd Mooj{-Go[Round index 520 - ARE YOU A PREMIUM BOND WINNER p54: