From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:
Emergency Budget
George Osborne presented his first Budget on Tuesday 22 June 2010.
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Capital Gains Tax Changes
A new rate of Capital Gains Tax (CGT) of 28% will be introduced. For individuals, the rate of CGT remains at 18% where total taxable gains and income, after taking into account all allowable deductions including losses, personal allowances and the CGT annual exemption, are less than the basic rate limit.
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Standard Rate of VAT to Increase
It is proposed to increase the standard rate of VAT from 17.5% to 20% with effect for any supply made on or after 4 January 2011.
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HMRC Amend PAYE Penalties Guidance
At the start of the tax year new late payment penalties were introduced for PAYE and other payments due from employers.
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Keep Proper Records!
HMRC have recently issued a reminder about the various 'toolkits' that they have developed to assist agents when preparing returns.
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HMRC Launch Tax Credit Video
Every year, tax credit claimants must renew their tax credit awards by 31 July or their payments may stop. Claimants on ‘nil awards’, and those receiving only the full family element of Child Tax Credit, will receive a statement of their 2009/10 award.
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Business Link Guidance For Farmers
Business Link has set up a dedicated new online service for farmers and growers.
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Maternity Rights for the Self Employed
It appears as though the self employed will become entitled to maternity leave for the first time under new laws introduced by the European Union (EU).
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To find out more about how we can help you, please contact Simon Coles & Co, London Chartered Accountants.
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