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| Tax and Business Calendar |
No reason to forget to submit your forms.
See our handy calendar by clicking
here.
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The New, “get tough” Regime
by the Taxman |
Business owners need to be aware of a new “get
tough” regime which will be implemented from 1 April 2009
when HM Revenue & Customs’ (HMRC) power to obtain information
and documents will be extended and HMRC will also be given new
powers to inspect business premises.
Click
here to view article.
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| Gift Aid Form Amended |
HMRC have updated their guidance on buying goods on the internet
explaining when duty and / or VAT will need to be paid.
Click
here to view article.
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| Improvements
Announced to State Pension Scheme |
The DWP announced last week that the Government is
proposing an amendment to the Pensions Bill which will allow some
people to make up to six additional years of voluntary (Class 3)
NI contributions in addition to those permitted under existing
time limits.
Click
here to view article.
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| Intestacy Rules |
| The Ministry of Justice
has announced an increase in the amount of the statutory legacy
on intestacy. The statutory legacy is the amount which an individual
is entitled to receive from the estate of their husband, wife or
civil partner where the individual has not made a Will.
Click
here to view article. |
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| Shopping on the Internet |
HMRC have updated their guidance on buying goods
on the internet explaining when duty and / or VAT will need to
be paid.
Click
here to view article.
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| Entrepreneurs’ Relief |
The system of capital gains tax (CGT) for individuals
and trustees changed radically from 6 April 2008. The changes
included the abolition of taper relief and indexation allowance
and the introduction of a single rate of CGT of 18%.
Click
here to view article.
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| Entrepreneurs ‘must make exit plan’ |
If you are a business owner, you need to give adequate
thought to how you will eventually exit your business.
Click
here to view article.
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| Bank of England Reduces Bank Rate by 0.5% |
The Bank of England reduced the bank rate by 0.5%
to 4.5% with effect from 8 October 2008.
Click
here to view article.
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| Changes To Rights During Maternity Leave |
There is a government initiative to encourage businesses
to make a difference and get involved with community activities
across the country. Small community groups with annual income
below £20,000 are eligible under the Grassroots Grants
scheme to receive grants of between £250 and £5,000.
The government has set aside £50 million from the fund
of £130 million to match any investments from businesses.
Click
here to view article.
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| Mandatory Company Trading Disclosures |
From 1 October 2008, new rules are in place to
unify and replace the various regulations setting out the trading
disclosures that incorporated companies must make to show their
legal identity. This is now being monitored by Trading Standards
and can result in a £5000 fine.
Click
here to view article.
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| Tougher Penalties for Persistent Late Filing
of Company Accounts and Returns with Companies House |
Late filing penalties are now doubled if accounts
and returns for financial years beginning on or after 6 April
2008 are filed late in two successive years.
Click
here to view article.
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| Business & Tax News |
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Glazers is registered to carry
out audit work and regulated by the Institute of Chartered Accountants
in England and Wales for a range of investment business activities.
The information in this newswire is believed
to be correct at the time of circulation. It is essential to
take advice on specific issues.
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