Drop tax-free limit on workplace financial advice

The Government should look at lifting the £150 tax-free limit on independent financial advice paid for by employers. The call has come from the Association of Consulting Actuaries (ACA) as part of its submission to the Workplace Retirement Income Commission chaired by Lord McFall. The ACA argued that doing so would encourage more employers to …

PAYE mistakes highlight tax system ‘complexity’

PAYE mistakes highlight tax system 'complexity' HM Revenue and Customs' concession that upwards of six million people have either underpaid or overpaid their tax during the past two years is a sign that the current tax regime is overly complicated, it has been claimed. According to Chas Roy-Chowdhury, who is head of taxation at the …

PAYE errors mean billions in under and overpaid tax

PAYE errors mean billions in under- and overpaid tax As many as six million people may have paid incorrect amounts of tax and national insurance through the PAYE system. According to figures from the Treasury, some £2 billion has been underpaid due to errors in the way that HM Revenue and Customs' PAYE calculation system …