Perminder Gainda looks at a recent decision of the First-tier Tribunal on the application of the principle that interest for individuals is generally taxable when received.
The Capital Gains Tax (Annual Exempt Amount) Order, SI 2012/881, provides that amount which – by virtue of TCGA 1992 s3(2) – is the annual exempt amount for 2012/13 unless Parliament determines otherwise is £1
The top rate of income tax will be reduced from 50% to 45% per cent from April 2013, but a new cap on tax reliefs will increase the effective rate for some taxpayers and experts warned that people on means-tested benefits would have much of the benefit of an increased personal allowance clawed ba
The controversial deal to tackle tax evasion by UK residents holding secret accounts in Switzerland has been revised. A protocol signed in Brussels yesterday will modify the deal so it is compatible with existing EU laws on evasion, the Financial Times reported.
The Tax Credits Up-rating Regulations, SI 2012/849, set the various monetary elements and thresholds of child tax credit and working tax credit with effect from 6 April 2012, as announced in the June 2010 Budget, the O
HMRC should follow the Treasury Committee’s advice and establish a ‘general disclosure facility’, according to the Chartered Institute of Taxation.
HMRC is offering online traders who have not paid their
The Social Security (Contributions) (Amendment No. 2) Regulations, SI 2012/817, make several changes to the principal NIC regulations at SI 2001/1004.
The Social Security (Contributions) (Re-rating) Order, SI 2012/807, specifies the rates of Class 2 and Class 3 NICs and the amount of earnings below which an earner may be excepted from liability for Class 2 contributi
The National Savings Bank (Investment Deposits) (Limits) (Amendment) Order, SI 2012/795, increases to £5,640 with effect from 6 April 2012 the amount that may be subscribed in ISAs offered at the National Savings Bank,