Income tax

Around 15 million people are facing long delays on their tax rebates as a result of HMRC revamping its security system.

Chief information officer Deepak Singh was paid £149,500 by HMRC to work three months beyond his leaving date.

The new reporting regime for offshore funds allows UK investors access to accumulating ETFs at a beneficial tax rate, according to industry experts.

Industry experts are urging investors to consider the tax status of ETFs as part of their due diligence, rather than blowing tax treatment "out of proportion."

The income tax threshold will increase by by £1,000 in April, the Chancellor said today in his emergency Budget.

Taxes must rise sharply over the next decade to bring down borrowing, according to the National Institute of Economic and Social Research (Niesr).

Richard Leeson, head of UK business development at Prudential International, says high earners can use offshore bonds to sidestep the worst effects of the tax rate changes.

The Chancellor will not make any changes to VAT, income tax or national insurance (NI) rates.

Chancellor Alistair Darling has decided to freeze all income tax bands in the Budget this afternoon, to fund another increase in public spending.

Capital gains (CGT) and income will be the biggest tax targets in next week's Budget, advisers say.