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Tax updates

Benefits and entitlements 2011 tax updates

There have been a number of changes to entitlements, including how they are measured, which will actually take place on April 11, 2011.

Increase in National Insurance for 2011-12

While there has been ground given on income tax, primarily for low-income earners, the main rate at which National Insurance is charged has increased for the 2011-12 financial year.

Income tax changes in 2011

There have been small but significant changes to the thresholds in the 2011 income tax system, which will result in thousands of taxpayers being placed in new tax bands.

Finance Bill 2011: Pension drawdown changes

Alongside the draft Finance Bill which followed the 2011 Budget, the government also published further details about the new rules that apply when people draw income directly from their personal pe

Finance Bill 2011: Junior ISAs

Alongside the draft Finance Bill which followed the 2011 Budget, the government also published further details about the replacement for the Child Trust Fund (CTF).

Budget 2011: Tax credits

There were no new announcements on tax credits, so the previously publicised rates and changes apply.

Budget 2011: Savings and investments updates

There were no surprises on savings and investments in the Budget.

Budget 2011: Government to consult on NI and income tax merger

The government is to look at merging income tax and National Insurance, chancellor of the exchequer George Osborne has announced.

Budget 2011 - Employer-supported childcare

As previously announced, from April 2011 the amount of higher-rate and additional-rate income tax relief will be restricted for new entrants to childcare voucher salary sacrifice schemes.

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