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This Report, which was written immediately after the Chancellor of the Exchequer delivered his Budget …
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Income Tax and Personal Savings
Income tax |
2016/17 |
2015/16 |
Basic rate band – income up to |
£32,000 |
£31,78 |
…
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National Minimum Wage (NMW) and National Living Wage
From 1 April 2016, the new National Living Wage (NL …
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Other measures announced
Real time collection of tax on benefits in kind: voluntary payrolling
Measur …
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Value Added Tax
From |
1 April 2016 |
Standard rate |
20% |
VAT fraction |
1/6 |
Reduced Rate |
5% |
Current Turnover Lim |
…
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Chancellor presents a ‘next-generation Budget’ as the storm clouds gather
Chancellor George Osborne …
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National Insurance Contributions (NICs)
2016/17 |
Employee
(primary) |
Employer
(secondary) |
Class 1 |
|
|
Pa |
…
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