| TWP – your flexible friend |
At TWP Accounting LLP, we understand that in the current economic climate, businesses need all the help they can get to ride out the downturn.
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| Tax investigation fee protection |
In a tough economic climate, the last thing anyone wants is an extra bill that they just cannot afford.
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| End of year tax tips |
Time is ticking away to the end of the tax year on 5 April 2009, so it’s worth thinking about whether you have made use of all the tax reliefs and allowances available to keep your tax bill to a minimum.
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| Budget Day Confirmed |
Chancellor Alistair Darling will present his Budget speech at 12.30pm on Wednesday 22 April 2009.
We will keep you informed of any further developments.
Internet link: HMRC announcement
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| HMRC Announce Self Assessment Filing Record |
According to HMRC, a record number of taxpayers filed their 2007/08 self assessment tax returns online. 5.75 million returns were filed online by the 31 January 2009 deadline, beating last year’s by over 50%.
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| CBI Predict Deeper UK Recession |
The latest CBI forecast predicts things are going to get worse for the economy before they get better.
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| Marks & Spencer VAT Win |
Marks and Spencer (M&S) won a landmark victory last year in the European Court of Justice (ECJ). The case concerned whether or not HMRC were correct to limit the amount of VAT they repaid to the company after their chocolate teacakes were reclassified as a cake rather than a chocolate biscuit. The issue of cakes and chocolate biscuits is an important one as cakes are zero rated rather than standard rated. The case dates back many years.
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| Beneficial Loan Rate |
HMRC have announced a reduction in the beneficial loan rate of interest from 6.25% to 4.75% from 1 March 2009. This is the rate of interest which is used to calculate the value of the benefit provided to employees where they receive a cheap or interest free loan from their employer.
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| Employment Rights - Statutory Limits |
The limits on payments and awards made to workers in certain situations increased from 1 February 2009, where the event giving rise to the entitlement to the payment arose on or after this date. The increased limits affect statutory redundancy payments and compensatory awards for unfair dismissal.
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| Business Payment Support Services |
According to Government figures, over 60,000 businesses have agreed time to pay tax arrangements with HMRC which total more than one billion pounds.
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| Employment Law Guidance Programme |
The Department for Business, Enterprise and Regulatory Reform Employment Law Guidance Programme is designed to help employers save time and money when complying with their employment law obligations.
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| Changes To The National Minimum Wage From 6 April 2009 |
The National Minimum Wage (NMW) rules have been with us for some years and require minimum rates of pay for certain workers. The government is now getting tough with those who do not pay the NMW.
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