Income tax

The Chancellor has expressed his "shock" that some of the country's wealthiest people are able to organise their finances so they pay "virtually no" income tax.

The government has come under fire for plans announced in the Budget to change tax allowances for pensioners, as stakeholders begin digesting the Chancellor's measures.

The point at which people start paying income tax will be increased to £9,205 from April next year, George Osborne announced in today's Budget.

The 50p top rate of income tax will be reduced to 45p from April next year, Chancellor George Osborne announced this afternoon.

George Osborne is set to announce a reduction in the top rate of income tax - but with implementation postponed for a year, according to reports.

Her Majesty's Revenue and Customs (HMRC) is facing calls to investigate London mayoral candidate Ken Livingstone.

The Chancellor, George Osborne, is set to make a cut to the top rate of income tax his headline measure in next week's Budget, as the Liberal Democrats have eased their opposition to the move in exchange for other concessions.

Clients who run a family business may be affected under controversial child benefit cuts set to be outlined in next week's Budget, according to accountants Baker Tilly.

BUDGET 2012

Business secretary Vince Cable has signalled that the Liberal Democrats are willing to scrap the 50p tax rate, in exchange for a "mansion tax" on high value property.