Written by Ian Congreave - Filed under: Budget Reports, Pre-Budget Reports on December 18th, 2009 | No Comments »
Summary
There are no changes to the 20% and 40% tax rates. As previously announced, earnings above the £150,000 “higher rate limit” are taxable at the new 50% “additional” rate of tax.
Posted December 18th, 2009 | No Comments »
Written by Ian Congreave - Filed under: Budget Reports, Pre-Budget Reports on December 18th, 2009 | No Comments »
Summary
There are no changes to NICs rates from April 2010.
Posted December 18th, 2009 | No Comments »
Written by Ian Congreave - Filed under: Budget Reports, Pre-Budget Reports on December 18th, 2009 | No Comments »
Summary
A new one-off tax, known as the “bank payroll tax” takes immediate effect (i.e. from 9 December 2009). It will be paid by banking groups, investment companies and building societies on payments, i.e. discretionary and contractual bonuses, made to banking employees over and above their salaries and benefits. The tax is not paid by the employees concerned and does not, therefore, serve to impose on employees a further tax on top of the PAYE tax and NICs that are already due on the payments.
Posted December 18th, 2009 | No Comments »
Written by Ian Congreave - Filed under: Budget Reports, Pre-Budget Reports on December 18th, 2009 | No Comments »
Summary
From 2011/12, a “high income excess relief charge” will be imposed on “high income” individuals, i.e. those with annual gross income (including employer pension contributions) of £150,000 or more and who, in addition, have gross income (excluding employer pension contributions) of not less than £130,000. The effect of the charge will be to restrict the tax relief on employee pension contributions to 20%.
Posted December 18th, 2009 | No Comments »
Written by Ian Congreave - Filed under: Budget Reports, Pre-Budget Reports on December 18th, 2009 | No Comments »
Written by Ian Congreave - Filed under: Budget Reports, Pre-Budget Reports on November 18th, 2009 | No Comments »
The Chancellor will make his Pre-Budget statement to the House of Commons on Wednesday, 9 December 2009 at 12:30pm.
Posted November 18th, 2009 | No Comments »
Written by Ian Congreave - Filed under: Pre-Budget Reports on May 11th, 2009 | 1 Comment »
The Chancellor presented his 2009 Budget Report on 22 April 2009. The following review considers the proposals that are relevant to payroll and includes changes, some of them pre-announced, that are to be made by means of the Finance Bill 2009, which had its first reading on 28 April 2009.
Posted May 11th, 2009 | 1 Comment »
Written by Ian Congreave - Filed under: Pre-Budget Reports on December 22nd, 2008 | No Comments »
The latest issue of HMRC’s Notes for Payroll Software Developers provides the following additional information regarding the implementation of tax changes from April 2009.
Posted December 22nd, 2008 | No Comments »
Written by Ian Congreave - Filed under: Pre-Budget Reports on December 8th, 2008 | No Comments »
We have some additional information and also some adjustments to make to the information given in last week’s newsletter on the new tax and NICs rates that come into force from 6 April 2009. Continue reading
Posted December 8th, 2008 | No Comments »
Written by Ian Congreave - Filed under: Pre-Budget Reports on December 1st, 2008 | No Comments »
The Chancellor of the Exchequer, Alistair Darling, presented his Pre-Budget Report to Parliament on 24 November 2008.
Posted December 1st, 2008 | No Comments »
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