Surge in people paying voluntary NICs

The number of people paying voluntary national insurance contributions (NICs) has boomed in the last two years. Statistics published by HMRC showed that £119.3 million was paid in voluntary class 3 NICs in 2018/19, compared to £69.1m the previous year. Just £12.8m was...

Pension rules to deepen NHS crisis

Pension tax rules could put additional strain on NHS emergency departments over the winter, the Royal College of Emergency Medicine (RCEM) has warned. In a survey by the RCEM, nearly 90% of emergency medicine consultants said the rules around the tapered annual...

Stamp duty receipts down 7% in 2018/19

The Treasury's take from stamp duty land tax fell by the largest amount since the start of 2008/09, Government figures show. HMRC collected £11.94 million in stamp duty receipts on completed property or land purchases in 2018/19 - a 7% decline on the previous tax...

Chancellor hints at death duties reform

Chancellor Sajid Javid has admitted that reforming inheritance tax rules is on his mind - and confirmed that a Budget should take place before the end of the year. Speaking at an event staged by the Institute of Economic Affairs and the Taxpayers' Alliance, Javid was...

HMRC reveals pension allowance breaches

The amount of savers who were taxed for exceeding the pensions annual allowance in 2017/18 is on the increase. Figures published by HMRC showed that 26,550 people had pension contributions that exceeded the £40,000 annual allowance last year - up from 18,500 in...