Addleshaw Goddard

UK 200 2014 position: 22

Budget announcement — 19 March 2014: income tax and NICs, capital gains tax, employee incentives and pensions

The Budget produced no real surprises as far as remuneration strategy is concerned. We knew about the majority of the changes in advance. However, while it is unlikely to have an impact on your remuneration strategy directly, employees are likely to welcome the changes to the way in which they can access their pension savings in a defined-contribution scheme.

Income tax rates will remain unaltered for the tax year 2014–15.

As previously announced, the personal allowance will increase to £10,000 from 6 April 2014 (from £9,440 for the tax year 2013–14) and then to £10,500 from 6 April 2015. However, from 6 April 2014, the basic rate limit will be reduced to £31,865 (from £32,010) although the higher rate threshold (i.e. the level of income after that tax payers begin to pay the 40 per cent higher rate of income tax) will be increased to £41,865 (from £41,450)…

Click on the link below to read the rest of the Addleshaw Goddard briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Addleshaw Goddard

View more briefings from Addleshaw Goddard

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

Milton Gate
60 Chiswell Street
London
EC1Y 4AG
UK
http://www.addleshawgoddard.com

Turnover (£m): 171.35
No. of lawyers: 598

Jobs