Chartered Accountants & Tax Advisers in Weybridge, Surrey
May 2008
The forms P11D, which report employees and directors benefits in kind and expenses, are due for submission by 6 July 2008 for the year ended 5 April 2008. The process of tracking down the information can take some time so … Continue reading
May 2008
From 6 April 2008, HMRC has increased the tax and NIC free guideline rate that employers can pay home working employees without keeping records from £2 to £3 per week. Please do get in touch if you would like advice … Continue reading
May 2008
It appears that many businesses are suffering a cash “squeeze” from delayed payment of their invoices as the credit crunch begins to impact on the economy. There are complaints from businesses that some large customers have begun to extend their … Continue reading
April 2008
In the Pre-Budget Report last October Chancellor Alistair Darling announced a series of changes to the capital gains tax (CGT) regime for individuals and trustees. These changes included the abolition of taper relief and indexation relief and the introduction of … Continue reading
April 2008
The introduction of the proposed legislation on ‘income shifting’ has been delayed until April 2009. You may well remember that HMRC proposed to legislate following their defeat in the Arctic Systems case. This involved a husband and wife who owned … Continue reading
April 2008
The employers annual returns P35 and P14 (P60) are due for submission to HMRC by 19 May 2008. There is a tax free incentive payment due of £100 for small employers, those with less than 50 employees, who successfully file … Continue reading
April 2008
A reduced 5% VAT rate for ‘over the counter’ sales of smoking cessation products was introduced from 1 July 2007 for a period of one year only. The government has announced that the 5% reduced rate will continue to apply. … Continue reading
April 2008
HMRC have issued some additional guidance on filing in year forms online. The guidance concerns online submission of forms P45 and P46. HMRC have advised that they will be making changes to their systems which will mean that employers will … Continue reading
April 2008
The National Minimum Wage will rise to £5.73 (£5.52) an hour in October 2008. The hourly rate for 18 to 21 year olds will increase to £4.77 (£4.60) and for 16 and 17 year olds to £3.53 (£3.40) an hour. … Continue reading
March 2008
Following changes being made to the Sex Discrimination Act and, later this year, to the Maternity and Parental Leave Regulations, the law on contractual terms of employment during Additional Maternity Leave (AML) is due to change in respect of women … Continue reading
