New pension tax relief plans receive qualified support
Posted: 3/9/10
Government plans to simplify pensions tax relief have won qualified backing from the Chartered Institute of Taxation (CIOT).
The plans to change the way that pension contributions are treated for tax purposes are currently out for consultation.
The Treasury is proposing that each taxpayer's annual pension allowance, the amount by which pension funds can grow tax free, should be reduced from the current £255,000 a year to between £30,000 and £45,000.
The
Small businesses urged to comply with the law on pay
Posted: 3/9/10
Smaller firms are being encouraged to examine their pay systems to make sure they are not breaching the law on equal pay.
It is forty years since the Equal Pay Act was introduced, but, on average, women are still paid 16.4 per cent less than their male counterparts.
The gap in gender pay stands at 21.6 per cent in the private sector compared with 14.6 per cent in the public.
Now the
Employers who use HM Revenue and Customs' employer CD-ROM with which to manage their payrolls are being advised to update it as soon as possible.
This to make sure they have the latest guidance and calculators.
The existing CD-ROM is to be replaced with a new downloadable application, called Basic PAYE Tools, in February 2011.
But downloading the September update means that businesses will be able use of the new software.
The September