Personal tax

21 May 12

EU trends show corporate and personal tax rates are on the up

The average standard VAT rates in the European Union's 27 countries have risen dramatically since 2008, a new report into taxation trends by the European Commission has found.

21 May 12

Think tank urges for single 30% income tax rate

A new single income tax rate of 30 per cent should replace and abolish eight different taxes, a report by a Government think tank has said.

15 May 12

Confusion over PPI compensation and tax liability

Individuals receiving compensation for mis-sold payment protection insurance (PPI) are unaware they may be liable to pay tax on awarded payments, after HMRC clarified its position on PPI and taxation.

14 May 12

Millions of taxpayers in line for early tax refund

HMRC has confirmed that more than three million tax refunds are to be sent out as of next week - two months earlier than previous years - due to an earlier review of the amount of tax paid for 2011/12 via the Pay As You Earn (PAYE) system.

11 May 12

HMRC's tax tests for contractors criticised

HMRC has come under fire over the release of new guidance for contractors and freelancers on the complex tax legislation IR35.

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