News
Business Payment Support Service - 05/01/2009 The Business Payment Support Service, announced in the Pre-Budget Report 2008, is designed to meet the needs of businesses affected by the current economic conditions. Any business that is worried about being able to meet tax, National Insurance or other payments owed to HMRC, or anticipates that payments becoming due will cause them problems, can get in touch with HMRC to discuss payment options to help them deal with temporary cash flow difficulties on 0845 302 1435.
Changes to the Advisory Fuel Rates from 1 January 2009 - 05/01/2009 To reflect the reduction in fuel prices, HMRC have issued new advisory fuel rates for employees driving employer provided cars. These take effect for all journeys undertaken from 1 January 2009, so employers using the advisory rates should advise affected employees and update any expense forms as soon as possible.
Demand for Advice on Redundancy and Lay-Offs - 05/01/2009 Acas, the Advisory, Conciliation and Arbitration Service, have reported a sharp increase in the number of businesses and employees seeking advice on redundancy, lay-offs and business transfers.
Cut in Interest Rates - 05/01/2009 Commenting on the decision by the Bank of England’s Monetary Policy Committee to reduce interest rates by 1% to 2% earlier this month.
VAT - Extension of 14 Day Limit - 05/01/2009 HMRC have issued further guidance to businesses on the reduction in the standard rate of VAT from 1 December 2008. The guidance clarifies certain issues regarding the ‘tax point’ rules for the date of supply.
Capital Allowances on Cars - 05/01/2009 HMRC have issued some draft legislation and guidance on how the tax relief on business cars, known as capital allowances, will be calculated from April 2009. |
