Higher rate taxpayers hit record levels (IFA Clifton)
According to Her Majesty’s Revenue & Customs (HMRC) and the Institute of Fiscal Studies, the number of Britons paying income tax at the higher or additional rate is estimated to have reached a record 5 million people last year (IFA Clifton).
COMPANY CARS (IFA Clifton)
The latest figures from HMRC – admittedly for 2012/13 – show that there were 940,000 company cars on the UK’s roads. Their taxation is one of the more curious aspects of Budget announcements. Chancellors of both hues have tended to announce changes (aka increases) in their Budgets that do not take effect for several years (IFA Clifton).