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Budget 2014 – Business Tax

Corporation tax rates The main rate of corporation tax will be 21% from 1 April 2014. The current rate is 23%. From 1 April 2015 the main rate of corporation tax will be reduced to 20% and unified with the small profits rate. The small profits rate will therefore remain at 20% until then. Annual…
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Budget 2014 – Personal Tax

The personal allowance for 2014/15 For those born after 5 April 1948 the personal allowance will be increased from £9,440 to £10,000. The reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 will continue. The reduction is £1 for every £2 of income above £100,000. So for this year there is…
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Budget 2014 – Budget Overview

George Osborne presented his Budget on Wednesday 19 March 2014. In his speech the Chancellor set the scene for the announcements stating that ‘If you’re a maker, a doer or a saver: this Budget is for you.’ Towards the end of last year the Government issued the majority of the clauses, in draft, of Finance…
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