News
Businesses get Extra Time to Pay Tax Bill - 17/03/2009 Baines Jewitt are reporting that around 3,500 UK businesses have been given extra time to pay their tax bill, according to new figures. Budget Day Confirmed - 03/03/2009 Chancellor Alistair Darling will present his Budget speech at 12.30pm on Wednesday 22 April 2009. HMRC Announce Self Assessment Filing Record - 03/03/2009 According to HMRC, a record number of taxpayers filed their 2007/08 self assessment tax returns online. 5.75 million returns were filed online by the 31 January 2009 deadline, beating last year’s by over 50%. Marks & Spencer VAT Win - 03/03/2009 Marks and Spencer (M&S) won a landmark victory last year in the European Court of Justice (ECJ). The case concerned whether or not HMRC were correct to limit the amount of VAT they repaid to the company after their chocolate teacakes were reclassified as a cake rather than a chocolate biscuit. The issue of cakes and chocolate biscuits is an important one as cakes are zero rated rather than standard rated. The case dates back many years. Beneficial Loan Rate - 03/03/2009 HMRC have announced a reduction in the beneficial loan rate of interest from 6.25% to 4.75% from 1 March 2009. This is the rate of interest which is used to calculate the value of the benefit provided to employees where they receive a cheap or interest free loan from their employer. Employment Rights - Statutory Limits - 03/03/2009 The limits on payments and awards made to workers in certain situations increased from 1 February 2009, where the event giving rise to the entitlement to the payment arose on or after this date. The increased limits affect statutory redundancy payments and compensatory awards for unfair dismissal. Business Payment Support Services - 03/03/2009 According to Government figures, over 60,000 businesses have agreed time to pay tax arrangements with HMRC which total more than one billion pounds. Employment Law Guidance Programme - 03/03/2009 The Department for Business, Enterprise and Regulatory Reform Employment Law Guidance Programme is designed to help employers save time and money when complying with their employment law obligations. Changes to the National Minimum Wage from 6 April 2009 - 03/03/2009 The National Minimum Wage (NMW) rules have been with us for some years and require minimum rates of pay for certain workers. The government is now getting tough with those who do not pay the NMW. Accountant achieves First in Professional Exams - 03/03/2009 An accountant at Stockton on Tees accountants Baines Jewitt has clocked up an impressive achievement in her latest professional exams.
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