Tax Alerts - 2010
30 Nov 2010
Retail and cash businesses
For these businesses, the change is relatively straightforward. The new rate will apply to all takings received on or after 4 January 2011 unless the receipt relates to a sale that took place before 4 January (for example, where customers have an account with the business) in which case the old rate of 17.5% rate will apply. For a cash/retail business, such events are likely to be ...(more)23 Mar 2010
While employers do wish to retain and motivate key employees, in the current tough economic conditions, they are also keen to keep the tax costs from doing so to a minimum.
Listed below are some of the benefits which, provided the relevant conditions are satisfied, can be provided tax-free to employees:
Working from home payments.
Mobile phone costs.
Pool cars and vans.
Mileage allowance payments for business use of an employee's own car (at ...(more)08 Mar 2010
In just under one month's time, the rate of income tax payable by higher earners will increase substantially.
Many of those who will be affected have already, or are in the process of, implementing tax-planning measures to mitigate the effects of the imminent increase.
If you've already acted well done you! If not, you may be interested to read Jimmy Hair's attached tax article, which appeared in the most recent issue of ...(more)12 Jan 2010
The Self-Assessment Payment Deadline
The Self-Assessment payment deadline is looming on the horizon. By 31 January 2010, you will need to pay one or both of the following:
The 'balancing payment' - the balance of tax you owe for the previous tax year 2008/09 (you will probably have paid some of this tax already)
The first of two "payments on account" for the current tax year 2009/10 (advance payments).
Note, if you pay your ...(more)