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Newcastle Building Society launches 5% Isa

Newcastle Building Society has launched a cash Isa paying a fixed rate of 5 per cent for five years

HMRC slashes interest rate on share schemes

HMRC’s decision to cut the interest rate for employees saving to buy shares in their employer’s company could deter people from signing up to these schemes, warns a leading accountancy group

Short lets to boost income

Wimbledon fortnight starts on Monday and this year more local residents than ever before are preparing to let their homes out to supplement falling investment incomes.

Revenue efficiency drive blamed for delays

Taxpayers are waiting up to three months for repayments of overpaid tax due to the efficiency programme at Revenue & Customs, which has led to the closure of local offices and loss of experienced staff

Glitch creates 71½% tax

Those who earn between £150,000 and £180,000 could be hit with an income tax rate of 71.5 per cent or more, from April 2011, if a raft of restrictions on the tax relief of pension contributions is introduced.

One rule for them – and lots more for us

“Expenses” may have become a dirty word following the scandal that has engulfed politicians in recent weeks but self-employed people are still legitimately entitled to offset a number of overheads against profits for tax purposes.

Partial ‘amnesty’ offered to tax evaders

A renewed push against evasion by Revenue & Customs aims to prise open the undisclosed offshore accounts of ‘potentially hundreds of financial institutions’ while offering a partial ‘amnesty’ to those who come forward voluntarily

Security checks delay tax refunds

Taxpayers are having to wait months to receive refunds as HM Revenue and Customs battles a backlog of claims caused by a new system of security checks.

Revenue to use private sector tax inspectors

Private sector tax experts prepared to divulge their know-how to the Revenue have become the latest weapon in its battle against aggressive tax avoidance

Loophole on tax avoidance blocked

The Treasury has stamped out a scheme that could have drained the exchequer of up to £1bn through a tax rule that gave failed companies access to the loss relief

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