Home - Payroll News
- Recent HR News
- FREE Newsletter
- Payroll and HR FAQs
- Payroll Forum
- Payroll Calendars
- Payroll Tools
- Monthly Brain Teaser
- The Authors
- About Us
- Contact us
Tax Relief
HMRC Cap on Unlimited Tax Reliefs
Thursday, December 6th, 2012As announced at Budget 2012, the Autumn Statement 2012 confirmed that all tax reliefs that are currently not subject to an upper ceiling will be capped at 25% of income, or £50,000, whichever is the greater. This will apply from April 2013. These unlimited tax reliefs are: Trade Loss Relief Early Trade Losses Relief Post-cessation [...]
HMRC Tax Relief Cap Consultation
Thursday, July 19th, 2012Budget 2012 announced that the Government was going to cap certain tax reliefs which were, currently, unlimited. For anyone seeking to claim more than £50,000 in tax reliefs, the cap will be 25% of income, or the £50,000, whichever is the greater. Of course, this announcement is best remembered for the bad publicity that the [...]
Charities and Tax Relief
Thursday, June 7th, 2012Budget 2012 announced that Finance Bill 2013 will include plans to impose a cap on ‘unlimited tax reliefs’. This cap is 25% of taxable income, or £50,000, whichever is the greater. This would have included donations made to charities and politicians from all sides as well as charities themselves expressed anger over the proposals. On [...]
Medical Insurance and Tax Relief
Saturday, February 25th, 2012Two Private members’ Bills seem to have fallen by the wayside – The Medical Insurance (Tax Relief) Bill and the Medical Insurance (Pensioner Tax Relief) Bill 2010-12. Both Bills were expected to have second readings in the House of Commons but did not get to this stage. The time limit for the reading at the [...]
HMRC warns against ‘payday by payday relief’ model
Sunday, July 17th, 2011Umbrella companies and employment businesses have been warned by HMRC that obtaining tax and NICs relief by deduction from gross pay breaks the law. Umbrella companies and businesses supplying temporary workers are under fire again – this time for using a business model that applies tax relief and, in some cases NICs relief, on a [...]
Further consultation on abolition of tax reliefs
Saturday, June 11th, 2011HM Treasury does not have enough information on the reliefs being considered for abolition and is seeking clarification from interested parties on the extent to which they are currently being used. The Office of Tax Simplification (OTS) is tasked by the Treasury with simplifying tax reliefs and small business taxation (including the IR35 rules). In [...]
Consultation on the abolition of certain tax reliefs
Saturday, June 4th, 2011On 27th May, HMRC launched the promised consultation on the abolition of certain tax reliefs announced By George Osborne at the time of the Budget in March. This resulted from a report produced by the Office of Tax Simplification (OTS). The OTS identified over 1,000 different individual exemptions, most of which are obscure and little [...]
