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Basic State Pension. The basic State Pension (alongside the Graduated Retirement Benefit, the State Earnings-Related Pension Scheme, and the State Second Pension) is a benefit payable to men born before 6 April 1951, and to women born before 6 April 1953. The maximum amount payable is £169.50 a week (April 2024 - April 2025).
National Insurance (NI) is a fundamental component of the welfare state in the United Kingdom. It acts as a form of social security, since payment of NI contributions establishes entitlement to certain state benefits for workers and their families. Introduced by the National Insurance Act 1911 and expanded by the Labour government in 1948, the ...
Personal allowance. In the UK tax system, personal allowance is the threshold above which income tax is levied on an individual's income. A person who receives less than their own personal allowance in taxable income (such as earnings and some benefits) in a given tax year does not pay income tax; otherwise, tax must be paid according to how ...
v. t. e. Capital gains tax in the United Kingdom is a tax levied on capital gains, the profit realised on the sale of a non-inventory asset by an individual or trust in the United Kingdom. The most common capital gains are realised from the sale of shares, bonds, precious metals, real estate, and property, so the tax principally targets ...
National Insurance number. Appearance. The National Insurance number is a number used in the United Kingdom in the administration of the National Insurance or social security system. It is also used for some purposes in the UK tax system. The number is sometimes referred to with the abbreviations NI, No or NINO. [ 1 ]
2023 autumn statement ›. The 2023 United Kingdom budget was delivered to the House of Commons on 15 March 2023 by Chancellor of the Exchequer Jeremy Hunt. It was the first of two full budget statements presented during the Sunak ministry. It was also the first full budget statement to be presented by Hunt since his appointment as chancellor ...
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Taxation in the United Kingdom. The Health and Social Care Levy was a proposed tax in the United Kingdom to be levied by the Government of the United Kingdom for extra health spending, expected to be launched in 2023. Provision for the tax was given under the Health and Social Care Levy Act (c. 28) and it was designed to deal with the backlog ...