Personal Tax

Clearer taxation system for pensioners proposed

The 'overly-complex' methods in which pensioners are taxed should be simplified, says the Office of Tax Simplification (OTS).

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'Scrap the 50p tax rate', businesses tell Chancellor

More than 500 businesses have urged Chancellor George Osborne to cut the 50p top rate of tax in the forthcoming budget in order to help the UK economy.

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Pensions tax relief hits £33 billion

The amount of tax relief delivered to savers in registered pension schemes has almost doubled in the last 10 years, according to figures from HMRC.

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New HMRC taskforces to target market and auto traders

HMRC is to launch 30 new taskforces in 2012/13 which will specifically target market stall holders, car sales people, and rag traders as it continues its clampdown on those who attempt to dodge the tax man.

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HMRC alters stance on employee smartphones

Smartphones such as BlackBerrys and iPhones which are provided by employers to employees will no longer be subject to tax as a 'benefit in kind', HMRC has announced.

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Chancellor faces increasing pressure for Budget tax-cuts

The Chancellor is facing mounting pressure from business groups and labour MPs to cut taxes in the upcoming Budget in order to stimulate economic growth and boost business.

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HMRC: Late tax return penalties being issued

HMRC has begun issuing hundreds of thousands of penalty notices to those who have failed to submit tax returns on time, it has announced.

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Rush to beat stamp duty holiday boosts housing market

House sales were up in January as an increased number of first-time buyers made the most of the stamp duty holiday which is to end in March, the Royal Institution of Chartered Surveyors (RICS) says.

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Government to discuss cutting tax relief for wealthy pension savers

Wealthy earners may see the higher-rate tax relief on pensions cut significantly in next month's Budget, says Treasury chief secretary Danny Alexander.

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Record number of self-assessment tax returns were filed on time

A record 9.45 million self-assessment tax returns were filed on time this year, with a record 7.65 million (80.9 per cent) of them filed online, says HMRC.

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