PAYE and NI

The Government has published the Finance Bill 2012, in which tax measures announced in Budget 2011 and 2012 come into force.

The earnings thresholds for automatic pension enrolment will be aligned with tax and national insurance contributions, the Government has confirmed following consultations.

Small businesses may benefit from a simplified tax system in which full accounts may not have to be presented to HMRC, under plans announced by Chancellor George Osborne in the Budget.

Chancellor George Osborne announced that the 50p top rate of tax will be reduced to 45p in April, and a further £1,100 increase in the personal allowance by 2013, in the Budget made earlier this afternoon.

Chancellor George Osborne stands to deliver today's Budget after a blow this morning from official figures indicating that public sector borrowing hit a record £15.183 billion pounds last month - close to double of the £8.875 billion in February and what economists had forecast.

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