Emergency Budget 2010 – Summary of Proposals

0

The year 2010 is more than usually complicated from the tax point of view because of the change of Government and the introduction of an Emergency Budget. The March Budget introduced a number of measures intended to continue the policy of stimulating the economy by keeping public spending substantially above public revenue.  The new Government [...]

Emergency Budget 2010 Update

0

PERSONAL TAXATION 2010/11 2009/10 Personal allowance general £6,475* £6,475 aged 65 or over in year of assessment £9,490 £9,490 aged 75 or over in year of assessment £9,640 £9,640 age allowance income limit £22,900 £22,900 minimum where income exceeds limit £6,475 £6,475 Married couple’s allowance (10% relief) either partner born before 6 April 1935 N/A [...]

Company Directors – Protect your home address

0

1st October 2009 saw a number of major changes within the Companies Act. One such change was the introduction of a Service Address for Directors. Effectively, for every directorship held, a Director must provide Companies House with details of their usual residential address, as well as details for their, recently introduced, ‘service address’. If a Director [...]

Pre Budget Report

0

The Chancellor gave his Pre Budget Report on 9th December. The main announcements were as follows: the personal tax allowance and the threshold at which 40% tax is charged will remain unchanged for 2010/11. the increase in the small companies’ rate of corporation tax to 22% will be deferred for another year until 1 April [...]

Ready for January 1 VAT Increase?

1

We’ve been living with 15% standard rate VAT for a year but on January 1 2010 the rate will revert to 17.5%. What are the main rules to watch out for?

Major changes to VAT in 2010

0

In 2010 three major changes to VAT will be introduced. 1. VAT rate On 1 January 2010 the standard rate of VAT reverts to 17.5% 2. VAT registered businesses The VAT rules for businesses who: Supply services to or receive services from overseas businesses Supply goods to other EC countries Reclaim VAT incurred in another [...]

Tax Scams

0

HMRC are warning of a scam, which has become widespread in recent months, offering a tax rebate from HM Treasury with the aim of stealing users ID and passwords. HMRC report that they would never send out notices of a tax rebate by email or invite anyone to fill in an online form.

VAT paper returns to be phased out

0

VAT paper returns are to be phased out completely by 1st April 2010. VAT returns will instead be filed online and payments made electronically. This will apply to all newly registering business and also established businesses whose annual turnover exceeds £100,000.

Changes to Self Assessment registration processes for the self employed

0

HMRC are changing the self employed registration process and will no longer be able to register anyone as self employed without a verifiable National Insurance Number (NINO). If you are thinking of registering for self employment and do not have a National Insurance number, you should telephone the Department for Work and Pensions on 0845 [...]

Companies Act Legislation

0

The final stages of the Companies Act 2006 were implemented on 1st October 2009, which also saw an increase in the minimum wage. The main changes introduced were: Companies only need to make their records available for public inspection in one place, rather than multiple locations. Companies will have to provide a ‘service address’ for [...]

How to contact us

PMA Accountants
PO Box 19415
Chingford
London
E4 6FD

T: 0844 357 3646
F: 0844 774 4516

E: info@pmaaccountants.co.uk