UK Tax News from TaxPenny

Alistair Darling Budget 2009

MP’s Expenses

National Minimum Wage increases

The adult rate of the National Minimum Wage (NMW) will rise to £5.80 (£5.73) an hour in October 2009. This is payable to those age 22 and over. The hourly youth development rate will increase to £4.83 (£4.77) and for 16 and 17 year olds to £3.57 (£3.53) an hour. Penalties for non compliance HMRC [...]

Tips and the National Minimum Wage

HMRC have won their case in the Court of Appeal as to the treatment of tips and service charges for bar and restaurant workers. The court ruled in favour of HMRC in the National Minimum Wage (NMW) legislation case relating to tips, gratuities and discretionary service charges. The case concerned Annabel’s restaurant and night club [...]

UK opt out on 48 hour working week

The ability of UK employers to allow employees to opt out from the European Working Time Directive is set to continue. This means that, where employees wish, they will still be able to work more than 48 hours a week. The European Parliament had wanted to scrap the opt out. Employment Relations Minister Pat McFadden [...]

P11D deadline looming

The forms P11D and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2009, are due for submission to HMRC by 6 July 2009. The process of gathering the necessary information can take some time so it is important that this process is not left to the [...]

Furnished holiday lettings

The Budget 2009 contained announcements about significant changes to the rules for furnished holiday lettings (FHL) but those who are affected may have to act fast. The main announcements are set out below: Extension of the furnished holiday lettings scheme to properties in the European Economic Area (EEA) (previously it was thought that the property [...]

Vehicle scrappage scheme

The vehicle scrappage or discount scheme is a voluntary scheme for motor dealers. Participating dealers will give buyers a £2,000 discount off the purchase price of a new car or small van in exchange for scrapping their old qualifying vehicle which must, amongst other criteria, be registered on or before 31 August 1999. The scheme [...]

Budget 2009

Alistair Darling presented his second Budget on Wednesday 22 April 2009. Having acknowledged the depth of the recession, he hinted that the Budget measures would enable the UK economy to begin to grow ‘by the end of the year’. As always the timing of the changes needs to be carefully watched – some are immediate [...]