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. Source: HMRC announcement
Tuesday, February 17, 2009
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%. On the busiest day, Friday 30 January, a record 390,000 returns were filed. Mark Holden, Director of HMRC’s Carter Programme, said: [...]
Saturday, February 14, 2009
The latest CBI forecast predicts things are going to get worse for the economy before they get better. According to the CBI press release: “…it will take until the second half of next year until the impact of interest rate cuts, falling inflation, the relative weakness of sterling, plus the fiscal boost, start to have [...]
Thursday, February 12, 2009
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 [...]
Monday, February 9, 2009
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. This loan interest, along [...]
Sunday, February 8, 2009
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. The main increases include the: minimum compensation for [...]
Friday, February 6, 2009
According to Government figures, over 60,000 businesses have agreed time to pay tax arrangements with HMRC which total more than one billion pounds. The Business Payment Support Service, which was introduced last autumn, provides a ‘fast track’ service that offers support to those needing more time to pay their tax bills. Terms can be quickly [...]
Monday, February 2, 2009
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. The Businesslink website provides free advice and online tools on a range of employment issues, including: the Employee Organiser – an interactive tool aimed at businesses planning [...]
Monday, February 2, 2009
TaxPenny have simplified the tax refund process further with the introduction of tax calculators on it’s website at www.taxpenny.co.uk. The new inspecTax system allows individuals from various fields of employment to estimate how much tax may be due to them going back as far as the last 6 years. So you can get a good [...]
Sunday, February 1, 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. From 6 April 2009, a new automatic penalty will be raised on employers where HMRC find NMW arrears. Penalties [...]
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Thursday, February 26, 2009
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