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Personal Tax

Large tax increases 'needed' to redress public finance deficit

Taxes may have to rise by significant amounts if the UK’s public finances are to return to balance in the timescale outlined by the Chancellor, a think tank has claimed.

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Taxpayers warned over refund email scams

HM Revenue and Customs (HMRC) has warned taxpayers to be on their guard against fraudulent emails promising them a tax rebate.

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Tax Charter clause 'very welcome'

An enabling clause should give taxpayers a greater stake in the planned Tax Charter.

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Some high earners could benefit from new pensions tax relief rules

People who earn more than £150,000 will get 50 per cent tax relief on the contributions they make to their pensions for one year.

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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.

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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.

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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.

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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.

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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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Stamp duty change may be extended

It is thought that the Chancellor may use the Budget to announce that last year’s temporary cut in stamp duty will be extended for a further three months.

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