Winter 2010 Newsletter

Alistair — Mon, 22 Nov 2010 10:20:06 +0000

As 2010 has been an unprecedented year with the publication of three Finance Bills, unsurprisingly our winter newsletter concentrates on tax issues.

Following an announcement issued in October, our front cover focuses on the restrictions relating to tax relief on pension contributions and the bad news that some high earners could find themselves with an additional tax charge.

If you are entitled to Working Tax or Family Tax Credits, from April 2011 the rules are set to change and we have produced a summary to keep you up to date with the current position. We have also included a simple overview of R&D tax credits. Whilst the rules are complicated the rewards can be very valuable to qualifying companies.

Furnished Holiday Lettings have been a hot topic since the Labour government announced proposed changes. Whilst the legislation is yet to go through, the coalition government has published new proposals for the next tax year. If this legislation is likely to affect you please read our update.

The government is also looking to reform the PAYE system. Whilst no decisions have been taken our article ‘The Future of PAYE’ is an interesting insight into how HMRC view the future. Rules on employer provided cars are also set to change so if you are thinking of changing your car, our article ‘Reducing tax emissions’ may help you decide what to buy next!

‘Extracting profits wisely’ reviews the many options available to extract profits from a company and how to get the best tax deal!

Please contact us if you have any questions regarding any of the articles or tax planning tips we have included in our newsletter or if you would like further information on a topic we haven’t covered. Your views are always important to us and we would welcome any feedback you could give us.

A PDF version of the Winter 2010 Newsletter can be downloaded her Winter 2010 Newsletter

Budget June 2010

Alistair — Wed, 23 Jun 2010 08:29:24 +0000

George Osborne presented his first Budget on Tuesday 22 June 2010.
For the first time, forecasts were published in advance of the Budget. The Office for Budget
Responsibility was formed in May 2010 to make an independent assessment of the public
finances and the economy in advance of each Budget and Pre-Budget Report.
Within the framework of these forecasts George Osborne stated that a tough but fair
Budget was needed. Many fundamental announcements have been made which affect the
taxation of most individuals. These are in addition to changes already made by the previous
government, such as the 50% tax rate and changes to the tax relief available for pension
contributions.
Our summary focuses on the issues likely to affect you, your family and your business. To
help you decipher what was said we have included our own comments.

For a full PDF version of the newsletter click here Budget June 2010 Newsletter

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Winter 2010 Newsletter

Budget June 2010