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Budget
Budget – State Pension reform
Thursday, March 24th, 2011The Government’s view is that the state pension system is too complex, making it difficult for working-age individuals to determine what they might receive from the state, in particular from the State Second Pension. The Budget announcement is that the DWP is to publish a Green Paper to consult on options for reform, which will [...]
Budget – Mileage allowance payments
Thursday, March 24th, 2011For employees required to use their own car or van for work, the approved mileage rate for cars and vans will increase, from April 2011, to 45p per mile (up from 40p) for the first 10,000 miles in a tax year, and 25p per mile thereafter. For NICs purposes, the new limit is 45p per [...]
Budget – Company cars and vans
Thursday, March 24th, 2011Appropriate percentage: For 2011/12, the appropriate percentages for company petrol cars range from 15% to 35% for emission ratings of 125 to 225 g/km. For 2012/13, the range, as already announced, will widen to between 11% and 35% for emission ratings of 100 to 220 g/km, with a fixed 10% for emission ratings below 100 [...]
Budget – Employer-supported childcare
Thursday, March 24th, 2011The “generally-available” condition One of the statutory conditions for tax relief for employer-supported childcare is that it be made “generally available” to all of an employer’s employees. Employer-supported childcare refers to the provision of childcare under a contract between the employer and the childcare provider, and to the provision of childcare vouchers. Budget 2010 announced [...]
Budget – Anti tax avoidance measures
Thursday, March 24th, 2011A number of measures are to be included in the 2011 and later Finance Bills to prevent the use of certain tax avoidance schemes. However, the Government has announced that measures will also be included in the 2012 Finance Bill to deter the continued use of avoidance schemes that are believed not to deliver the [...]
The Learn Centre 2011 Budget Summary
Thursday, March 24th, 2011The Chancellor presented his 2011 Budget to Parliament on 23 March. A detailed review of the payroll-related measures will appear in our weekly newsletter on Monday, 28 March. The following is a short summary of the key measures set out in the 2011 Budget. Personal tax allowances From April 2012, the personal allowance will increase [...]
Jersey – Budget Statement 2011 tax proposals
Friday, January 21st, 2011The following increases in the income tax exemption limits are proposed for 2011, reflecting the 1.1% increase in average earnings during 2010. The historically generous tax thresholds in Jersey mean that many Islanders still pay less tax than in most neighbouring territories. The income tax payable by a married couple in 2010 with a joint [...]
Consultation on draft legislation for Finance Bill 2011
Friday, December 17th, 2010The policy of the Coalition government is to confirm most of its new tax measures at least three months before the introduction of a Finance Bill. The draft text of the legislation that will appear in the Finance Bill 2011 was published on 9 December and is open for technical comment until 9 February 2011. [...]
Ireland: 2011 Budget and the Universal Social Charge
Friday, December 10th, 2010Ireland’s 2001 Budget measures, presented by the Minister for Finance on 7 December, include significant changes to taxation in employment. The key changes involve: replacing the Income Levy and Health Levy with a single Universal Social Charge removing the PRSI employee contribution ceiling increasing the PRSI rate for the self-employed, higher earning public servants and [...]
