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Personal tax

Extra pension tax charges for high earners

A detail in the Budget announcement has revealed that people who earn more than £150,000 a year will have to pay tax on the contributions that their employers make to their company pension schemes.

Holiday home owners to lose tax benefits

Rules that allow owners who rent out holiday homes to set trading losses against their tax bills are to be dropped from April 2010.

Budget 2009: personal tax – 50 per cent top rate on income tax

Future tax rises were always likely to be on the agenda as the Chancellor seeks to reassure the international money markets that he has plans laid to reduce the UK’s huge borrowing deficit.

Budget 2009: an outline summary

The Chancellor has delivered one of the most important Budgets in years against a backdrop of rising unemployment, soaring government borrowing and quite possibly the hardest hitting recession since the Second World War.

Chancellor warned over new top rate income tax

The government could fail to raise the amounts of money it anticipates following the Chancellor’s decision to introduce a new 45 per cent top income tax band, it has been claimed.

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