Business News - February 2010

We are delighted to announce that, The Corporate Finance Network, of which we are the exclusive representative in this region, has recently launched a unique management training programme.

HMRC have issued a warning about a new scam email which is being sent from ‘HMRC Online Services – test@test.com’ stating that the recipient has one new ALERT message and should log onto their Online Account to read the message.

The limit on the amount of the compensatory award for unfair dismissal is set to decrease from 1 February 2010. The current maximum of £66,200 is to reduce to £65,300, due to the decrease in the retail prices index measure of inflation. This new limit applies where the event giving rise to the entitlement to the payment arose on or after 1 February 2010.

HMRC have introduced the facility to apply for dispensations online.

The Vehicle Scrappage Scheme is a voluntary scheme for motor dealers under which participating dealers give buyers a £2,000 discount off the purchase price of a new car (or certain types of small van) in exchange for scrapping their old qualifying vehicle.

The new Statutory Payment Rates for 2010/11 have been announced.

HMRC have updated their guidance on using your own vehicle for work. The guidance needs to be read in conjunction with the mileage rates which for those using their own car for work purposes are unchanged at 40 pence a mile for the first 10,000 miles dropping to 25 pence a mile thereafter.

For those making tax and national insurance payments, HMRC are reminding that their bank details changed last year.  To confirm that you are making payment to the correct bank account please visit the link below.