Personal tax

Savers should be offered tax incentives as way of combating the poor returns currently being delivered by savings accounts, a leading banker has argued.

Self assessment taxpayers who are experiencing difficulties in meeting their 31 January tax bills can ask to delay payment.

Taxpayers are being reminded that they must file their self assessment returns online by 31 January if they wish to avoid a £100 penalty.

HM Revenue and Customs (HMRC) has said that more taxpayers now have the option to meet their bills by direct debit.

Raising the threshold at which people pay income tax could be one way of stimulating the economy, according to a senior MP.

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