Budget: Tax and NI changes

Income tax and National Insurance changes announced by Gordon Brown, the Chancellor, in his Budget speech on 9 April have been added to the HR & Compliance Centre statutory rates information service, along with relevant official links.

Employers and pension providers will be asked to put into effect any consequent changes to codes and tax tables on the first pay day after 14 June 2003, backdated to the start of the tax year (6 April 2002).

  • New income tax bands and allowances

  • New National Insurance contributions

    Also

    • Chancellor's new tax relief aids homeworking   Equal Opportunities Review reports..

    Slower growth, higher borrowing   As a result of a sluggish economy and falling tax receipts, there was a further downward revision to growth forecasts and an upward revision for borrowing in the Budget.

    Brown's Budget plans get thumbs up from business and Cash incentives to lure lone parents back to work  Personnel Today reports.

    Budget promises skills boost for UK and TUC welcomes 'steady' Budget  Quentin Reade reports, from personneltoday.com.

    Long-term productivity growth requires long-term solutions  Writing immediately prior to the Budget in Personnel Today, Will Hutton, chief executive of the Work Foundation, argues that improved UK productivity requires a joined-up solution, combining a drive to improve skills, innovation and the creation of a business-building culture.

    Inland Revenue news releases and budget notes    Full details of the 2003 Budget can be found on the Inland Revenue website.

    CBI reaction to the Budget   Director-General Digby Jones gives his views on the 2003 Budget.