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National insurance

For tax year 2001/2002 the rate of employer&#39s Class 1 National Insurance contributions reduces from 12.2% to 11.9% as announced in the last Budget.
The threshold above which employers and employees pay contributions is aligned with the standard personal allowance, that is at £87 per week. In addition, the threshold above which the self-employed pay Class 4 contributions remains aligned with the standard personal allowance at £4,535.


Capital gains tax

5.1 BUSINESS ASSETS TAPER RELIEF AND CAPITAL GAINS OF NON-RESIDENT CLOSE COMPANIESThe Chancellor announced two changes of significance on capital gains. He has also increased the annual CGT exemption. As far as the more significant changes are concerned these are as follows: Business Assets Taper Relief As inferred in the pre-Budget report, the Government has […]

Broker Talkback

Do you think the high-street banks will dominate the financial services market if polarisation is scrapped? “No.I don&#39t think the high-street banks will have the necessary knowledge of the market. Their activities are too dissipated.” Andrew Geary, Andrew J. Geary“No, I don&#39t think they will dominate the market but they will substantially increase their market […]

Pension planning pre April 5

TAX PLANNING AND THE DC TAX REGIME Pensions have always formed an essential part of a client&#39s end of tax year planning. Appropriate pension planning will be even more important in the lead up to 6 April 2001 as account will need to be taken of the provisions of the new DC tax regime which […]

360 investment firms in default in 2000

The Investors Compensation Scheme, which this month became a subsidiary of the Financial Services Compensation Scheme, declared 360 firms in default in 2000, the second highest annual figure since its inception in 1988.Since 1988 the ICS has paid out £238m to 19,300 consumers. The ICS will eventually be replaced by the FSCS.FSCS chief executive Suzanne […]


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