The following Employment Tax guidance note Produced by Tolley in partnership with Jim Yuill at The Yuill Consultancy provides comprehensive and up to date tax information covering:
Until 11 May 1977 a married woman or a widow could elect not to pay full rate National Insurance contributions (NIC) and, instead pay a small rate which originally stood at only 4d. a week (pre-decimal currency) which only covered her for certain benefits if she suffered an accident at work. Among the older generation this is still referred to as the ‘fourpenny stamp’. The reduced rate has increased steadily over the years and is now 5.85% of those earnings which fall between the NIC threshold and the upper earnings limit (UEL). It was fairly common for women getting married to make an election not to pay full rate NIC on the basis that they were only going to work for a relatively short period before staying at home to raise a family.
From 11 May 1977 the NIC position of married women and widows changed. Since that time, they are treated no differently from any other worker. There are however transitional rules which are still in place which allow those women who were already married on 10 April 1977, and certain widows, to retain the benefit of any election they had made, and so continue to pay reduced rate contributions until an event causes the election to be terminated. The number of women now entitled to pay the reduced rate of contribution is quite low and they will disappear altogether as they reach state pension age.
The only certificates of election, where a married woman has chosen to pay the reduced rate of contribution, which are now valid are forms CA4139 or CF383, unless either Box A or B has a date which has now passed, or CF380A which is only valid if the woman has worked for the same employer since 5 April 1980 and has been continuously entitled to pay reduced rate NIC since that date.
Any other certificate is invalid
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
Legislative definition of plant and machineryThe general rule allowing capital allowances on plant and machinery is given at CAA 2001, s 11. There is no statutory definition of the term ‘plant and machinery’ but there is confirmation in the legislation on what constitutes a building or a structure
If the taxpayer does not have sufficient information to enable them to complete the tax return in the time allowed, they should include either a best estimate or a provisional figure. The taxpayer should not either leave a box blank or enter ‘details to follow’ as HMRC will regard this as an
Investors’ relief is a capital gains tax (CGT) relief on the disposal of qualifying shares in an unlisted company. A taxpayer making a disposal that qualifies for investors’ relief will pay tax at a rate of 10%.Although it is a separate relief, the rules for investors’ relief were intended as an
If the self assessment tax return shows that a repayment is due, the taxpayer can claim a repayment or leave it as a credit on their statement of account.The quickest and safest method is for HMRC to make the payment direct to the taxpayer’s bank or building society account and so they are asked to