The ICAEW has just released useful information about pension changes which will affect every business For more information and details click here
From May 2010, you will be charged a penalty if you are late more than once in paying your PAYE/NIC in a tax year. You will also be charged a penalty, even if it is the first time you are late in a tax year, if that payment is over 6 months late.
The previous Labour Government announced that the national minimum wage rate is to rise with effect from 1 October 2010. The new rates are as follows: Aged 21 and over: £5.93 an hour (was £5.80 an hour) Aged 18 – 20: £4.92 an hour (was £4.83 an hour) Aged 16 – 17: £3.64 an hour (was £3.57 an hour)
Last Tuesday Chancellor George Osborne announced his emergency budget. Here’s our brief summary of the pertinent points: IR35 abolishment closer than ever In a post-budget interview with The Telegraph, small business minister Mark Prisk indicated the government’s intention to “undertake a comprehensive review of small business taxation in a way that makes the need for the […]
There have been a number of significant recent changes affecting VAT. a) Return of the standard VAT rate to 17.5% You will be well aware of this change but if you use the Flat Rate Scheme (FRS) for accounting for VAT, the FRS percentages have increased. For the new rates please click here. Note that if […]
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