The draft order raising the NIC limits for 2001-02 has been published and laid before parliament.
It provides for the rate of secondary Class 1 contributions to be reduced from 12.2% to 1.9% and the small earnings exception for Class 2 contributions to be increased from £3,825 to £3,955. Class 3 contributions are increased from £6.55 to £6.75 a week while for Class 4 contributions, the lower limit is increased from £4,385 to £4,535 and the upper limit from £27,820 to £29,900.
The Revenue’s latest annual set of statistics has been published. Future editions will only be published on the web.
Customs & Excise
Customs has updated its web pages in respect of the Business Advice open days which provide an opportunity to obtain business information.
Cabinet OfficeThe Cabinet Office has published a new Code of Practice on consultations which aims to increase public involvement in consultation while imposing minimum burden and giving them a standard minimum period of three weeks.
The Fabian Society report ‘Paying for Progress: A New Politics of Tax for Public Spending’ on tax issues has been released.
It proposes a fairer tax system with a new rate of income tax of 50% on taxable incomes over £100,000 a year, raising £3bn.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy