PAYE and NI

Small businesses may benefit from a simplified tax system in which full accounts may not have to be presented to HMRC, under plans announced by Chancellor George Osborne in the Budget.

Chancellor George Osborne announced that the 50p top rate of tax will be reduced to 45p in April, and a further £1,100 increase in the personal allowance by 2013, in the Budget made earlier this afternoon.

Chancellor George Osborne stands to deliver today's Budget after a blow this morning from official figures indicating that public sector borrowing hit a record £15.183 billion pounds last month - close to double of the £8.875 billion in February and what economists had forecast.

Business groups have urged the Chancellor to take 'radical action' and deliver measures which support small businesses, drive job creation, and encourage UK economic growth, in the Budget that will be announced tomorrow.

Employees will have a legal right to claim back annual leave if they become ill whilst on holiday, the European Court of Justice (ECJ) has decided.

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