Personal Tax

Average weekly state pension rises

The average weekly state pension for 2012/13 has risen by £6 from £118 to £124 according to Government estimations following changes which came into effect last week.

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Chancellor to 'take action' on top-level tax avoidance

Chancellor George Osborne has admitted he was 'shocked' by the level of tax avoidance taking place by some of the top earners in the country, after being shown confidential tax returns as part of a study by HMRC.

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New tax year brings in tax and benefit changes

Significant tax and benefit changes, which come into force with the beginning of the 2012/13 tax year on 6 April, will affect millions of families around the UK, according to Government and opposition figures.

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Government criticised over Finance Bill 2012

The Government has been criticised for its 686 page Finance Bill, the longest published on record, after Chancellor George Osborne pledged to create a 'fairer, more efficient and simpler tax system' in this year's Budget.

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ISAs: Have you made the most of your allowance?

With the end of the financial year approaching, investors have less than a week to make the most of their annual tax-efficient Individual Savings Account (ISA) allowance.

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Finance Bill 2012 published

The Government has published the Finance Bill 2012, in which tax measures announced in Budget 2011 and 2012 come into force.

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Concerns child benefit reforms will cause complications

Changes to the child benefit system announced in the Budget will cause a 'high degree of complexity' in take up and HMRC administration, says the Chartered Institute of Taxation (CIOT).

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Chancellor defends Budget

Chancellor George Osborne has been defending yesterday's Budget in a string of media interviews after accusations of hitting the elderly with reduced tax allowances and aiding the highest earners.

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Budget makes £3 billion cut to pensioner tax breaks

The personal tax allowance for pensioners is to be frozen, and scrapped completely for those aged 65 years and over on or after 6 April 2013, in a Budget where the 50p tax rate and increase in personal tax threshold took centre stage.

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Budget 2012: 50p tax rate cut while income tax threshold is raised

Chancellor George Osborne announced that the 50p top rate of tax will be reduced to 45p in April, and a further £1,100 increase in the personal allowance by 2013, in the Budget made earlier this afternoon.

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