Another 1.5million pensioners could be dragged into paying higher rates of income tax if Rachel Reeves extends a freeze on thresholds, experts have warned. And they said extending the freeze for another two years could potentially drag 1million to 1.5million extra retirees into higher or additional rate tax brackets between 2023 and 2030. Jon Greer, head of retirement policy at …
The message from Budget 2024 was loud and clear: say goodbye to the old income tax regime. Union finance minister Nirmala Sitharaman proposed three key changes in the new tax regime, while the old one was left untouched. If your deductions and exemptions exceed the break-even amount, go for the old tax regime, otherwise the new tax regime will be …
Downing Street is considering a tax cut for five million high earners next year to galvanise Tory voters after suffering historic by-election defeats in two “safe” Conservative seats. The threshold for paying the 40 per cent higher rate of income tax could be raised in an effort to plot a path to re-election despite polls predicting a Labour victory. Surveys …
ALBANY, N.Y. — New York officials gave final approval Wednesday for a measure that will lower the hourly threshold for when farm workers qualify for overtime pay. Starting on Jan. 1, 2024, farm workers will be eligible for overtime pay after 56 hours worked per week. Right now, farm workers in the state qualify for overtime pay after working more …
Jeremy Hunt is set to announce a new tax raid on inheritance as he battles to balance the books at next week’s Autumn Statement. The Chancellor and Rishi Sunak are understood to have agreed to freeze the threshold above which people must pay tax for another two years. It means that more people will have to pay inheritance tax. A …
