Johnson Murkett & Hurst

• EXTRA NATIONAL INSURANCE BURDEN AHEAD
  One of the significant announcements in the Pre-Budget Report earlier this month is a further increase in national insurance contributions (NIC) which is to take effect from 6 April 2011. The NIC rates and limits are broadly frozen for 2010/11 at the 2009/10 figures, with a couple of minor exceptions............read more
• SPECIAL ANNUAL ALLOWANCE CHARGE – NEW LIMITS FOR 2009/10
  In the Pre-Budget Report earlier this month changes were announced to the complex rules for the Special Annual Allowance (SAA) charge which affects those with substantial income who make significant pension contributions. The current rate of the SAA charge is 20% on excess pension contributions..........read more
• BANK PAYROLL TAX
  In a move designed to tackle certain remuneration practices that are considered to have contributed to ‘excessive risk taking’ in the banking industry, a temporary bank payroll tax of 50% is to apply to certain bonuses regardless of how they are paid. The tax will apply to the amount of the bonus which exceeds £25,000.........read more
• OFFSHORE DISCLOSURE EXTENSION
  HMRC is giving taxpayers with offshore investments more time to come forward under the New Disclosure Opportunity (NDO). The registration deadline, which was due to expire on 30 November 2009 has been moved to 4 January 2010 as some banks need more time to contact their offshore customers..........read more
• CHANGES TO THE ADVISORY FUEL RATES FROM 1 DECEMBER 2009
  To reflect the increase 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 December, so employers using the advisory rates should advise affected employees and update any expense forms as soon as possible............read more
• HMRC WARN OF MORE SCAM EMAILS
  As the end of the year fast approaches HMRC are reminding taxpayers to be vigilant as scam emails have been reported. For details of their latest guidance on scam emails, more information on this and other scams together with a copy of the latest example visit the links below..............read more
• TAX RELIEF ON NURSERY VOUCHERS
  Gordon Brown had revised his proposal to withdraw the income tax and NI exemption on employer provided childcare vouchers. Currently employees are exempt from tax and NIC on childcare vouchers provided by employers. The exemption is available on the first £55 a week of vouchers per employee, as long as a range of conditions are met............read more
• CROSS-BORDER VAT CHANGES 2010
  HMRC issued some important guidance regarding the changes in the place of supply of services rules which take effect from 1 January 2010. This guidance is part of a package of measures being introduced to simplify and modernise the VAT system for cross-border trading and to counter fraud across the EU. The measures include........read more
• BAD WEATHER ADVICE
  The Institution of Occupational Safety and Health (IOSH) are warning people to be prepared for poor weather conditions when travelling. They have produced a few tips to help ensure that travel, whether it is for work or pleasure, remains safe despite the weather.............read more

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