Personal tax

Taxes may have to rise by significant amounts if the UK’s public finances are to return to balance in the timescale outlined by the Chancellor, a think tank has claimed.

HM Revenue and Customs (HMRC) has warned taxpayers to be on their guard against fraudulent emails promising them a tax rebate.

An enabling clause should give taxpayers a greater stake in the planned Tax Charter.

People who earn more than £150,000 will get 50 per cent tax relief on the contributions they make to their pensions for one year.

A detail in the Budget announcement has revealed that people who earn more than £150,000 a year will have to pay tax on the contributions that their employers make to their company pension schemes.

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