Business News
Family firms plan bumper dividends to beat tax hike
Stratford accountants, Murphy Salisbury, are advising some family businesses to consider doubling their normal dividend between now and next March to beat the new 50 per cent tax rate on earnings above £150,000, which comes into force on 5 April 2010.
Rise in company tax enquiries
Murphy Salisbury accountants are warning that there has been an increase in the number of investigations into companies’ tax affairs by HM Revenue and Customs (HMRC) since the authority was granted new powers earlier this year.
Reduced VAT rate extended for New Year’s Eve traders
Stratford accountants, Murphy Salisbury, are reminding businesses whose opening hours are set to straddle midnight on 1 January 2010 that they have been given a ‘period of grace’ by HM Revenue and Customs (HMRC), allowing them to continue to charge VAT at the reduced rate of 15% on sales until 6am.
Tax rules for temporary workers under scrutiny
Murphy Salisbury accountants are warning employers that HM Revenue and Customs (HMRC) is set to investigate the alleged misuse of tax concessions for temporary workers.
How business owners can save on tax
Murphy Salisbury accountants are advising high earners facing the prospect of a 50% income tax rate, increased National Insurance Contributions and reduced tax relief on pensions to plan for ways to reduce the impact of those changes now.
Tax planning for trusts
Stratford accountants, Murphy Salisbury, are warning that from 6 April 2010, the tax rate applicable to trusts will become 50% with dividend income from discretionary trusts being taxed at 42.5%.
Government Targets 'False' Self-Employment
Murphy Salisbury accountants warns of the problem of false self-employment in the construction industry.
Inheritance Tax payers face interest rate hike
Stratford-upon-Avon accountants, Murphy Salisbury, are warning families faced with an inheritance tax (IHT) bill after the death of a loved one will soon encounter higher interest charges if they take longer than six months to pay up.
Exit planning
Since the banking crisis in Autumn 2008 and the credit crunch that resulted, sales of businesses, especially SMEs, have fallen dramatically. We believe that for the next 5-10 years at least, only the best SMEs are going to be sold for a good price.
Directors' service addresses
Changes introduced on 1 October mean that every director must provide Companies House with both their usual residential address, and a 'service address' for each directorship they hold.
Tips don't count towards the NMW
As you may be aware the National Minimum Wage (NMW) rates increased from 1 October 2009...
Tax relief on nursery vouchers to be withdrawn
In his speech to the Labour Party Conference, the Prime Minister, Gordon Brown announced an extension of free nursery places...
Scrappage scheme
The Vehicle Scrappage Scheme is a voluntary scheme for motor dealers under which participating dealers give buyers a £2,000 discount off the purchase price of a new car (or certain types of small van) in exchange for scrapping their old qualifying vehicle.
Paying PAYE on time
HMRC are warning employers that from May 2010 they may have to pay a penalty if they do not pay their PAYE on time. These are generally due each month, on time and in full.
31 October self assessment deadline
HMRC are warning taxpayers who wish to file a paper (non electronic) tax return for the 2008/09 tax year, should generally reach them by midnight on Saturday 31 October 2009 (or be hand delivered by Monday 2 November).
Online payroll starter and leaver forms
HMRC are reminding employers with 50 or more employees that they should now be filing online their starter and leaver information online.
To find out more about how our leading firm of accountants in Stratford-upon-Avon and Warwickshire can help you, please contact us.
