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Tax Allowances
Budget 2013 – Personal Taxation
Tax Allowances The headline announcement is that the Personal Allowance is to increase by £560.00 to £10,000.00 from 06 April 2014. This is for people born after 05/04/48. This increase is in accordance with the Government’s 2010 Coalition Agreement, which stated that this was long-term policy objective, to be met by the end of the [...]
Tax
The Mansion Tax Mr Osborne said that more will be paid by the ‘better off’, however, this did not mean a tax raid by applying a higher tax rate and he confirmed that there would be no tax on property. Accompanied by head-shaking from the Deputy Prime Minister, this signals the end of speculation about [...]
The ‘Granny Tax’
As we reported on 13 March 2012, The Office of Tax Simplification had previously identified the age-related allowances as a source of confusion and complexity. Further, the Coalition’s increases to the lower Personal allowance were reducing the difference between the lower and age-related amounts. In a move towards a universal tax allowance system, one of [...]
Autumn Statement – 2011
The Autumn Statement on 29 November 2011 focused on the economy and the reducing growth forecasts as a result of European and Global influences. For payroll professionals, there were few surprises in the Statement. Whilst there is another change on the way in respect of the State Pension Age, even this cannot be said to [...]
