Glazers April 2010 Newswire

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New Statutory Payment Rates for 2009/10

The new Statutory Payment Rates for 2009/10 have been announced (subject to Parliamentary approval).

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Changes to SSP for agency workers

Following the Court decision in the case of Thorn Baker Limited, the Department for Work and Pensions (DWP) have amended the legislation. This was done to restore the Government’s original policy intention that agency workers who have contracts of less than three months should be eligible for Statutory Sick Pay (SSP) within the first three months of their contract.

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National Insurance Contributions from April 2009

From 6 April 2009, changes have been made to how employers will have to record National Insurance Contributions (NICs) due to changes to the State Second Pension.

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Statutory Maternity Leave, Salary Sacrifice and Non-Cash Benefits

Salary sacrifice is a change to an employee’s contractual pay entitlement. It often involves the giving up of some entitlement to pay in return for some other form of benefit, such as employer pension contributions or childcare vouchers. Depending on the sort of benefit involved, tax and/or National Insurance savings can often result for both the employer and employee.

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'How to Pay' Changes

During 2009, HMRC will be changing the bank accounts into which businesses and individuals make payments. These changes will be phased in throughout the year but HMRC will keep businesses and taxpayers informed of any changes.

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PAYE Changes

HMRC have issued a reminder to employers with 50 or more employees that they must send their employee starter and leaver information - P45s, P46s and P46(Pen) for pensions - online from 6 April 2009. As always, failure to comply with these new rules could result in a penalty.

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HMRC Warn of Latest Fraud Attempt

HMRC are warning taxpayers of the latest fraud attempt to be reported to them.

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New tax rules on way for car purchases

Businesses considering investing in cars from April 2009 need to be aware of new capital allowances rules for tax relief on these vehicles.

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Don’t Lose Out on Loss Relief

With the economic downturn continuing to take its toll, companies, partnerships, sole traders and individuals are reminded to make best use of their loss relief in trading in the most tax-effective way.

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HMRC Steps Up Push for VAT Filing Online

Businesses will need to get to grips with online filing of their VAT returns next year.

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Business & Tax News

You can find all our recent tax and business articles by clicking on the following links:

Tax - www.glazers.co.uk/tax_news.htm
Business - www.glazers.co.uk/business_news.htm

 
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Glazers Chartered Accountants
843 Finchley Road, London NW11 8NA
Tel no: (020) 8458 7427
Fax no: (020) 8458 8504
e-mail:quality@glazers.co.uk
web: www.glazers.co.uk


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.