In the Pre-Budget Report changes were announced to the complex rules for the Special Annual Allowance (SAA) charge which affects those with substantial income who make significant pension contributions. The current rate of the SAA charge is 20% on excess pension contributions.

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Gordon Brown had revised his proposal to withdraw the income tax and NI exemption on employer provided childcare vouchers.

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One of the significant announcements in the Pre-Budget Report is a further increase in national insurance contributions (NIC) which is to take effect from 6 April 2011.

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HMRC is giving taxpayers with offshore investments more time to come forward under the New Disclosure Opportunity (NDO). The registration deadline, which was due to expire on 30 November 2009 has been moved to 4 January 2010 as some banks need more time to contact their offshore customers.

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In a move designed to tackle certain remuneration practices that are considered to have contributed to 'excessive risk taking' in the banking industry, a temporary bank payroll tax of 50% is to apply to certain bonuses regardless of how they are paid.

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