Personal Tax

Employers need to be aware of PAYE late payment penalties

Businesses are being reminded that they may face a penalty charge if they are late in paying their PAYE deductions in full.

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General Election 2010: a hung Parliament

With no party capable of commanding an overall majority in the House of Commons, here is a brief recapitulation of what each of the main parties has promised on business, tax and the economy.

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Higher rate income tax to improve government revenues

Income tax revenue looks set to show a marked improvement this year.

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Income tax 'needs to climb'

The UK may have to increase the basic rate of income tax by 6p in the pound, a leading think-tank has warned.

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Fuel duty 'ranks' higher than national insurance as a worry

More people are concerned about the effect of increased fuel duty on petrol prices than they are about a possible rise in national insurance.

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Parents more inclined to give sooner rather than later

Increasing numbers of parents are giving money in advance to their children rather than leaving them bequests in their wills as a means of saving on inheritance tax.

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IR35 may be revised 'after' the election

Tax rules governing contractors and freelance workers may be due for an overhaul following the general election, a business group has claimed.

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Think-tank warns on tax rises and spending cuts

A leading think-tank has argued that none of the three main political parties has ventured far enough in identifying the sort of spending cuts and tax rises that may be necessary to reduce the UK’s budget deficit.

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HMRC helplines mired by tax code enquiries

The number of people ringing HM Revenue and Customs (HMRC) about incorrect PAYE tax codings has meant that many callers are having to wait on hold for considerable periods.

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Companies make early dividend payments

UK companies brought forward over £840 million in shareholder dividend payments ahead of the end of the tax year.

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