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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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