Chancellor Alistair Darling presented his second Pre-Budget Report on Monday 24 November 2008. As expected Mr Darling concentrated on measures to protect and support businesses and individuals in these ‘extraordinary, challenging times for the global economy’. This summary concentrates on the tax measures which are being introduced. The main tax proposals are: reduction in standard [...]
The Ministry of Justice has announced an increase in the amount of the statutory legacy on intestacy. The statutory legacy is the amount which an individual is entitled to receive from the estate of their husband, wife or civil partner where the individual has not made a Will. From 1 February 2009 the statutory legacy [...]
HMRC have updated their guidance on buying goods on the internet explaining when duty and / or VAT will need to be paid. The guidance has been updated in recognition that we are becoming increasingly global shoppers and may therefore benefit from some straightforward guidance. The information includes warnings that although you may think that [...]
HMRC are reminding taxpayers who wish to complete paper self assessment tax returns that the new 31 October 2008 deadline is here. They are advising that ‘tax doesn’t have to be taxing’ with an advertising campaign fronted by well known newsreader Moira Stewart. Previously, both paper and online self assessment tax returns had to be [...]
Following changes made to the Sex Discrimination Act and to the Maternity and Parental Leave Regulations, the law on contractual terms of employment during Additional Maternity Leave (AML) changed in respect of women whose babies were due on or after 5 October 2008. The date the baby is due, as shown on the MATB1 certificate [...]
HMRC have updated their model Gift Aid declaration form for charities and community amateur sports clubs to reflect the reduction in the basic rate of tax from 22% to 20% from the beginning of this tax year. Any charity organisers who have not already updated their own Gift Aid form may wish to download the [...]
The system of capital gains tax (CGT) for individuals and trustees changed radically from 6 April 2008. The changes included the abolition of taper relief and indexation allowance and the introduction of a single rate of CGT of 18%. In response to pressure from the business community the Chancellor introduced a new ‘Entrepreneurs’ Relief’ which [...]
Wednesday, October 15, 2008
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