Walker Thompson Newsletter 51

WELCOME TO 2012

On 15 December 2011 Walker Thompson were successfully re-assessed against the Investors in Excellence Standard, first achieved by the firm in 2007 and again two years later.
PENSIONS AUTO ENROLMENT

The Government has confirmed that pensions auto enrolment will commence in Autumn 2012 and all employers will remain within the scope of the rules.

ADVISORY FUEL RATES FOR COMPANY CARS

New company car advisory fuel rates have been published to take effect from 1 December 2011.

CAPITAL ALLOWANCES IN ENTERPRISE ZONES

Following the Autumn Statement at the end of November 2011, more information is now available in respect of the proposal to give 100% first year allowances on plant and machinery expenditure for use in some Enterprise Zone areas.

SEED ENTERPRISE INVESTMENT SCHEME

The government has released more information on the new Seed Enterprise Investment Scheme (SEIS) aimed at smaller companies.

STATUTORY RESIDENCE TEST

The government has been consulting on introducing a Statutory Residence Test (SRT). The test which was expected to be introduced from 2012 has been delayed until 6 April 2013. More details are expected to be announced in the 2012 Budget.

SELF ASSESSMENT DEADLINE FAST APPROACHING

HMRC are reminding taxpayers that the deadline for filing self assessment tax returns is fast approaching.

THE PORTAS REVIEW

The CBI commented on a report by Mary Portas on the future of the high street.

HMRC TO ACCEPT FASTER PAYMENTS

HMRC have announced that they will now accept payments made using the Faster Payments Service. This will allow taxpayers to make faster electronic payments, typically via internet or telephone banking, enabling them to be processed on the same or next day.

2012/13 STATUTORY PAYMENTS

HMRC have announced the following statutory payment rates which are due to take affect for 2012/13. These rates are still subject to Parliamentary approval and HMRC will confirm the rates before 1 April 2012.

Newsletter 50

Please follow the links below for more information about each topic.

AUTUMN STATEMENT

On Tuesday 29 November the Office for Budget Responsibility (OBR) published its updated forecast for the UK economy.

NEW HMRC TASKFORCES

Five new taskforces have been set up to tackle tax evasion in different areas of the country.

VAT AND DUTY ON SHOPPING

Angela Shephard, Head of Customs Policy, HMRC is warning individuals not to get caught out by 'unexpected charges when you are shopping for Christmas bargains this year'.

PARTIES FOR EMPLOYEES

With the season for office parties fast approaching we thought it would be a good idea to remind you of the tax implications.

CONSULTATION - HAVE YOUR SAY

The government has launched a consultation, 'Modernising the administration of the personal tax system'.

FIGHTING CUSTOMS AND EXCISE FRAUD AND TAX EVASION

HMRC are asking for information to help them tackle Customs and Excise fraud and tax evasion.

UNEMPLOYMENT RISES TO 2.62 MILLION

The CBI commented on official data showing unemployment rose by 129,000 to 2.62 million in the three months to September 2011, including a rise in youth unemployment to over a million.

EU VAT REGISTRATION LETTER SCAM

HMRC are warning of a new scam letter which is being sent to businesses.

Latest Newsletter

Walker Thompson Newsletter 48


Walker Thompson's Monthly Newsletter is now available.  There are as usual a number of interesting points to consider, and keep in mind.  Especially pertinent is the increase in the National Minimum Wage which comes in in October 2011.

Follow the links below for more information, as well as links to the relevant government website.
NATIONAL MINIMUM WAGE RATES
ADVISORY FUEL RATES FOR COMPANY CARS
AGREEMENT WITH SWITZERLAND TO SECURE BILLIONS IN UNPAID TAX
UNEMPLOYMENT FIGURES
HMRC REMINDER ON NEW TAX RETURN PENALTIES
SCHOOL CHARITIES - GIFT AID AND PAYROLL GIVING GUIDE
REVISED CONSTRUCTION INDUSTRY PENALTIES
HMRC REPORT INCREASE IN PHISHING SCAMS
INSOLVENCY UPDATE