News - June 2008
10% Tax Rate Climb Down
June 2008
We live in quite amazing times in the world of tax. Over a year ago, in Gordon Brown’s last Budget speech as Chancellor, the so-called ‘abolition’ of the 10% starting rate was announced. The government’s reason for this was, and still remains, the simplification of the tax system.
Take Care What Information you Post on the Internet
June 2008
It has been reported in the Daily Express that tax inspectors are searching social networking sites for potential tax evaders, who may be ‘advertising’ their wealth or assets which may lead HMRC to believe they have ‘hidden’ remuneration.
Flexible Working Extension
June 2008
The government has announced plans to extend the right to request flexible working to parents with children up to the age of 16.
SMP and Salary Sacrifice Arrangements
June 2008
HMRC have published some guidance on the complex area of salary sacrifice and entitlements to both statutory maternity pay and continuing non cash benefits during maternity leave.
Update Your Will
June 2008
The Law Society has warned that thousands of Wills could need updating as a result of rising care and nursing fees which force the elderly to sell their assets, in many instances their homes, to pay for care. The home is generally the largest asset left to loved ones.
Payroll Changes and Personal Allowances
June 2008
Chancellor Alistair Darling has announced an increase in the personal allowance of £600 and an adjustment to the higher rate threshold (the total of the personal allowance and basic rate limit) as reported in the earlier article, ‘10% tax rate climb down’.
Drive to Help Women Boost their State Pension
June 2008
Women pensioners could boost their state pension or even be in line for a windfall payment under special terms.
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