Graham Farquhar reviews the Budget 2011 Tax Proposals
The Chancellor announced a range of employment tax related changes and planned consultations in the Budget some of which apply from 6 April 2011 and others in the future.
Income tax and NIC reform: Perhaps most significant was the announcement that the government will be consulting on the possible integration of the income tax and NIC system. The intention is to reduce the burden on businesses but to maintain the NIC contributory principle.
The proposed merger will indeed be historic and is likely to take years to implement. There will be a myriad of complexities to negotiate not least the interaction with other Social Security systems around the world and in particular in Europe.
In bringing together the two systems it will highlight the actual rate of tax people are paying. For example based on current figures ...
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Home >Articles > Budget 2011: income tax and NICs, cars and childcare
Budget 2011: income tax and NICs, cars and childcare
Graham Farquhar reviews the Budget 2011 Tax Proposals
The Chancellor announced a range of employment tax related changes and planned consultations in the Budget some of which apply from 6 April 2011 and others in the future.
Income tax and NIC reform: Perhaps most significant was the announcement that the government will be consulting on the possible integration of the income tax and NIC system. The intention is to reduce the burden on businesses but to maintain the NIC contributory principle.
The proposed merger will indeed be historic and is likely to take years to implement. There will be a myriad of complexities to negotiate not least the interaction with other Social Security systems around the world and in particular in Europe.
In bringing together the two systems it will highlight the actual rate of tax people are paying. For example based on current figures ...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
