Johnson Murkett & Hurst

• INTESTACY RULES
  The Ministry of Justice has announced an increase in the amount of the statutory legacy on intestacy. The statutory legacy is the amount which an individual is entitled to receive from the estate of their husband, wife or civil partner where the individual has not made a Will.............read more

• BANK OF ENGLAND REDUCES BANK RATES BY 0.5%
  The Bank of England reduced the bank rate by 0.5% to 4.5% with effect from 8 October 2008. John Cridland, CBI Deputy Director-General, said: “This was an essential and timely rate cut which the CBI had called for to help restore business and consumer confidence............read more

• SHOPPING ON THE INTERNET
  HMRC have updated their guidance on buying goods on the internet explaining when duty and / or VAT will need to be paid. The guidance has been updated in recognition that we are becoming increasingly global shoppers and may therefore benefit from some straightforward guidance...........read more

• ‘PAPER’ TAX RETURN DEADLINE 31 OCTOBER
  HMRC are reminding taxpayers who wish to complete paper self assessment tax returns that the new 31 October 2008 deadline is here. They are advising that ‘tax doesn’t have to be taxing’ with an advertising campaign fronted by well known newsreader Moira Stewart. Previously, both paper and online self assessment.........read more

• CHANGES TO RIGHTS DURING MATERNITY LEAVE
  Following changes made to the Sex Discrimination Act and to the Maternity and Parental Leave Regulations, the law on contractual terms of employment during Additional Maternity Leave (AML) changed in respect of women whose babies were due on or after 5 October 2008. The date the baby is due, as shown on the MATB1 certificate..........read more

• GIFT AID FORM AMENDED
  HMRC have updated their model Gift Aid declaration form for charities and community amateur sports clubs to reflect the reduction in the basic rate of tax from 22% to 20% from the beginning of this tax year. Any charity organisers who have not already updated their own Gift Aid form may wish to download the updated form...........read more

• ENTREPRENEURS’ RELIEF
  The system of capital gains tax (CGT) for individuals and trustees changed radically from 6 April 2008. The changes included the abolition of taper relief and indexation allowance and the introduction of a single rate of CGT of 18%. In response to pressure from the business community the Chancellor introduced a new............read more

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