tax

Tax rebate for 22 million people

Rebecca Atkinson — Wed, 03 Sep 2008 10:03:51 +0100

Around 22 million workers are set to receive an extra £60 in their pay packets for September, as new tax measures come into force this month.

Will Gordon Brown scrap stamp duty?

Chris Thomas — Tue, 05 Aug 2008 14:07:15 +0100

Gordon Brown is thought to be considering a temporary suspension of stamp duty in an attempt to kick-start the flagging property market and spur the economy.

The ambitious plan would be part of a raft of new measures aimed at helping thousands of hard-pressed families who are struggling with the rising cost of living, and unable to contemplate purchasing a new home.

Nine million motorists hit with road tax rage

Rebecca Atkinson — Thu, 10 Jul 2008 16:18:55 +0100

Gordon Brown was accused of “sleepwalking into another 10p tax fiasco” after the government admitted nearly nine million motorists will have to pay more car tax under reforms aimed at reducing carbon emissions.

Tories propose tax system shake-up

Rebecca Atkinson — Thu, 03 Jul 2008 17:35:35 +0100

The Conservative Party has promised to bring an end to stealth taxes in a major shake-up of the UK taxation system.

Has your tax burden increased in the last five years?

Rebecca Atkinson — Mon, 23 Jun 2008 15:33:25 +0100

* Yes, my tax burden has increased * My tax burden is about the same * No, my tax burden has decreased

Brits waste £9.3 billion in unnecessary tax

Rebecca Atkinson — Tue, 27 May 2008 17:02:15 +0100

Around £9.3 billion is wasted each year in unnecessary tax, costing each of us an average of £183, new figures reveal.

Analysis of Inland Revenue and other official data – by research firm RAKM – shows that the amount we pay in unnecessary tax has risen by 14% from last year, with 82% of people admitting they have done nothing to reduce their tax payments.

Tax change set to hurt 18 million families

Rebecca Atkinson — Wed, 21 May 2008 11:12:29 +0100

Millions of families will find themselves worse off in two years' time if the government fails to extend last week’s one-off income tax cut, a new report has warned.

The study, by the Institute of Fiscal Studies (IFS), claims that once the £600 increase in personal allowances for basic rate taxpayers concession ends in 2009, 18 million families will find themselves worse off by £150 a year.

Moneywise Tax Special Quiz

Rebecca Atkinson — Thu, 15 May 2008 15:00:23 +0100

How well do you know your celebrity tax evaders, tax-related song lyrics and general tax facts?

Take the quiz and find out...

Darling announces plan to compensate 10p tax victims

Rebecca Atkinson — Tue, 13 May 2008 17:58:47 +0100

Basic rate taxpayers will see their personal allowances increase by £600 this year, under measures announced by chancellor Alistair Darling to compensate those hit by the 10p tax rate axing.

The move follows fierce criticism that the decision to scrap the 10p tax rate in last year’s Budget would hit the UK’s lowest earners the hardest.

Tax returns given a makeover

Rebecca Atkinson — Fri, 11 Apr 2008 10:11:03 +0100

Tax returns are due to hit doormats of 9.3 million self-assessment taxpayers from this week. And a redesign means they should be simpler and quicker to complete.

HM Customers and Revenue has revamped the main self-assessment tax return in a bid to make it easier for the self-employed and companies that don’t use accountants to complete them.

The new look tax return has fewer questions, uses “simpler language” and boosts a new layout designed to make it easier to understand.

Changes include:

A new page for additional information.

A self-employment page and a two-page form for businesses with an annual turnover below £64,000.