Recent "MJ News" Articles
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16/12/11 |
New Mileage Rates
HMRC have announced new fuel rates for business mileage from December 2011.
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16/12/11 |
2011 Chancellor's Autumn Statement - Update
In the Autumn Statement summary prepared on 29 November, we promised to provide you with an update if there were any
significant changes announced on 6 December following the publication of Finance Bill 2012 draft clauses and
explanatory notes.
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01/12/11 |
2011 Chancellor's Autumn Statement
On Tuesday 29th November the Office for Budget Responsibility (OBR) published its updated forecast for the UK economy.
Chancellor George Osborne responded to that forecast in a statement to the House of Commons later on that day.
This summary also provides a reminder of other key developments which are to take place from April 2012.
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26/11/11 |
Winter 2011 Newsletter
HMRC continue to get tough on overdue taxes. Our article summarises the latest position and offers advice on what
action you might take if you receive one of the many debt letters they are sending. HMRC are also busy issuing
penalties but appeals to the tax Tribunal continue to flow and this has led in some cases to criticism of HMRC.
‘Penalty delay criticised’ looks at a recent tribunal case concerning late P35 and P14 forms.
As part of HMRC’s campaigns you may come under scrutiny if you have sold anything on eBay or similar sites. Look at
the indicators set out in ‘Internet Trading’ to see if you have anything to declare!
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26/11/11 |
Inheritance Tax Planning
Inheritance Tax (IHT) is a tax that needs to be taken seriously by any individual with assets in excess of £325,000.
Taking some basic steps can mean that your family may be able to avoid the worst ravages of an IHT bill after you pass away.
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26/11/11 |
Furnished Holiday Lettings
The UK tax treatment of Furnished Holiday Lettings (FHL) has been advantageous for many years. FHL are treated as
a trade for certain purposes, provided certain conditions are met. Changes were made in 2009 so that this
preferential treatment was made available to a qualifying property located in the European Economic Area (EEA)
as well as in the UK to avoid discrimination within the EEA.
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29/09/11 |
New Tax Return Penalties & NMW Rates
The new tax return penalties come into effect this autumn. The changes will affect self assessment tax returns for
2010/2011, and all future years. The new Natinal Minimum Wage rates come into force on 1st October.
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05/09/11 |
Autumn 2011 Newsletter
1 October 2011 brings about two new employment related matters for business owners; new employment regulations concerning
agency workers and the annual National Minimum Wage increase. Changes to CIS late filing penalties. Plus other topical
tax articles.
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05/09/11 |
Capital Allowances
This briefing considers recent developments and announcements in the core area of plant and machinery capital allowances
including the important forthcoming changes for 2012.
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05/09/11 |
Main Residence Exemption
The capital gains tax (CGT) exemption for gains made on the sale of your home is one of the most valuable reliefs
from which many people benefit during their lifetime. The CGT exemption is available whatever the level of the
capital gain on the sale of any property that has been your main residence. In this briefing we look at the operation
of the relief and consider factors that may cause it to be restricted.
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21/06/11 |
New Mileage Rates
HMRC have announced new fuel rates for business mileage from June 2011.
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08/06/11 |
Summer 2011 Newsletter
As HMRC continue to focus on PAYE we look at 'Employer penalties' and the future of PAYE. We also have articles on VAT
problem areas, a look at the rules regarding 'pool' cars, innaccuarate tax credit claims, and up coming changes to the
capital allowance rules.
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08/06/11 |
Travel & Subsistence Expenses
Travelling and subsistence expenditure incurred by the self-employed or by employees can give rise to many problems.
This briefing highlights the main areas to consider in deciding whether tax relief is available on these expenses.
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08/06/11 |
Pension Rule Changes
This briefing sets out the main features of the new pension regime including points to consider in planning
for retirement and taking your money in retirement.
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| 07/04/11 |
New Mileage Rates
Included in the recent budget was an increase in the amount that can be claimed tax free for business mileage.
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| 24/03/11 |
Budget - 2011 Budget Summary
George Osborne presented his second Budget on Wednesday 23 March 2011. In his statement he said that the Budget
is about reforming the nation’s economy, so that we have enduring growth and jobs in the future. 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.
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22/02/11 |
Year End Tax Planning
Tax is a subject that excites very few people. It is easy to ignore awkward issues involving tax, such as those
mentioned in this supplement. Don’t - it could cost you dear. Instead, think of a regular review of your tax
affairs (at least once a year) as an opportunity to reduce the taxman’s take from your family.
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22/02/11 |
Essential Employer Update
Recent developments that all employers shoud be aware of. Including Pension auto enrolment,Payroll end of year,
additonal statutory paternity leave and changes to the rates of National Insurance.
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22/02/11 |
VAT for the Smaller Business
This briefing focuses on VAT matters of relevance to the smaller business. A primary aim is to highlight common risk
areas as a better understanding can contribute to a reduction of errors and help to minimise penalties.
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22/02/11 |
Spring 2011 Newsletter
Spring is a time for change and HMRC is no exception. Upcoming changes include business records checks, compulsory
iXBRL online filing for corporation tax, and changes to the rates of National Insurance.
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14/12/10 |
Securing Business Success
As many as half of all businesses fail in their first three years of trading, and the recession has wiped out
many well established businesses over the last two years. A contributor to ensuring business success and avoiding
failure is to know your enemies. This briefing therefore focuses on the key areas to watch, so that success is secured.
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14/12/10 |
Keeping a lid on Inheritance Tax
Inheritance Tax (IHT) is payable at 40% on all estates in excess of £325,000. Therefore a married couple have a
combined benefit of £650,000 before IHT is payable. Effective Will planning can also contribute towards minimising
IHT but real planning opportunities exist for those who are prepared to consider making gifts of assets in their lifetime.
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14/12/10 |
Dont be an April Fool
The period leading up to the end of the tax year on 5 April is one of the best times for you to review your personal
tax position and take action to maximise tax saving opportunities and minimise liabilities. This briefing contains
a summary of the more important ‘in year’ and year end tax tips to help you identify the areas that should be
considered so that we can then provide tailored advice for your particular needs.
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14/12/10 |
Winter 2010 Newsletter
As 2010 has been an unprecedented year with the publication of three Finance Bills, unsurprisingly our winter
newsletter concentrates on tax issues.
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| 10/09/10 |
Autumn 2010 Newsletter
Before the Emergency Budget took place in June there was much speculation about what the coalition tax plans
would be. Our newsletter takes a closer look at some of the measures announced and thankfully
it wasn’t all bad news!
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| 23/06/10 |
Budget - 2010 Post Election Budget Summary
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.
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| 26/03/10 |
Budget - 2010 Budget Summary
Alistair Darling presented his third Budget on Wednesday 24 March 2010. Having acknowledged that the country
is emerging from deep global recession and needing to provide a route to long term prosperity he announced a
number of new measures. Some will take effect immediately, whilst others will be enacted by a Finance Bill
‘as soon as possible’ in the next Parliament, so the timing of the changes needs to be carefully watched.
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| 01/07/09 |
Spring 2009 Newsletter
Tax planning hints and tips including information about the new capital allwances rules, and inheritance
tax planning ideas.
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| 23/04/09 |
Budget - 2009 Budget Summary
Alistair Darling presented his second Budget on Wednesday 22 April 2009. Having acknowledged the depth of the recession,
he hinted that the Budget measures would enable the UK economy to begin to grow ‘by the end of the year’.
As always the timing of the changes needs to be carefully watched – some are immediate but some are delayed to
2010 and beyond.
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| 18/12/08 |
Autumn 2008 Newsletter
Tax planning hints and tips including information about employee travelling expenses, Salary sacrifices,
and potential inheritance tax problems.
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| 29/08/08 |
Summer 2008 Newsletter
Important information about the new powers HMRC now have to enter business premises to
inspect business records. Does this include your home?
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| 25/07/08 |
Spring 2008 Newsletter
Useful tax planning hints and tips including useful information about the changes to Capital Allowances
on plant and machinery.
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| 13/03/08 |
Budget - 2008 Budget Summary
Alistair Darling presented his first Budget on Wednesday 12 March 2008. After the Northern Rock saga and the changes
of mind on the ‘simplification’ of capital gains tax, will it be his last?
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| 12/02/08 |
Winter 2008 Newsletter
Useful tax planning hints and tips including useful information about claiming travel and subsistence
expenses, and information about the new "Income Shifting" rules being proposed by HMRC.
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| 19/10/07 |
Autumn 2007 Newsletter
The second edition of our new quarterly newsletter containing useful tax planning hints and tips.
This issue includes articles on wages for family members, and Inheritance Tax gifts out of income.
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| 30/08/07 |
Summer 2007 Newsletter
We are pleased to anounce the launch of our new quarterly newsletter containing useful tax planning hints and tips.
This issue includes articles on mobile phones, associated companies, and "main residence" reliefs.
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| 22/03/07 |
Budget - 2007 Budget Summary
Gordon Brown presented his eleventh Budget on Wednesday 21 March 2007. This is expected to be his last before
he makes a bid to become Prime Minister. A highlight for many was the reduction in the basic rate of income tax to 20%, but this is
countered by an expansion in the amount of income that is subject to national insurance. Sweeping changes are
also to be made to the capital allowance and corporation tax systems.
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| 23/03/06 |
Budget - 2006 Budget Summary
Gordon Brown presented his tenth Budget on Wednesday 22 March 2006. Will it prove to be his last?
Has he won public and parliamentary support for his bid to become Prime Minister?
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.
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| 27/07/05 |
Maidment Judd - We Have Moved
We are pleased to announce that we have moved to new ground floor offices. Please also note that our email
have also changed. If you email us please use ".com" at the end of our email addresses instead of ".co.uk".
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| 21/03/05 |
Payroll - Payroll Year End
The current payroll year ends on 5th April 2005 (approx 3 weeks). To avoid any problems with preparing your
payroll end of year returns, it is important to start planning ahead now.Now is also the perfect time to review
your current payroll arrangements.
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| 17/03/05 |
Budget - 2005 Budget Summary
If the British public were hoping for a Budget filled with pre-election sweeteners then they were disappointed.
Gordon Brown used his speech to remind us of his golden rule, to balance the current budget over the economic cycle,
and to set out his long-term vision for the country. Press speculation, which was somewhat muted in the run up to
the Budget, had focused on stamp duty land tax breaks for first time buyers and the Chancellor did not disappoint.
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| 22/12/04 |
Merry Christmas - Office closed over christmas
Everyone at Maidment Judd would like to wish you all a very Happy Christmas and a great
New Year. Thank you all for your support this year and we look forward to working with
you all again in 2005. The office will be closing at 12 noon on Thursday 23 December 2004
and will re-open on Tuesday 4 January 2005.
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| 02/12/04 |
Dividends - The Least You Need To Know
The payment of an unlawful dividend can have very serious tax consequences as the Inland
Revenue could regard the payments as loans to the shareholders, which may trigger a charge of 25%
and possibly interest and penalties.
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| 05/11/04 |
Maidment Judd Launches New Website & E-News Service
In addition to our new website we have today launched our free e-news service “MJ News”.
This will enable us to keep you up to date and informed of any issues or regulations that you
might find useful or need to be aware of, such as:
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| 05/11/04 |
Money Laundering - are you prepared?
With the new Money Laundering Regulations coming into effect from 1st March 2004, many more businesses will
fall within the scope of the legislation, and for some this will come as a bit of a shock.
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| 05/11/04 |
Do you know if you need to submit a Form 42 to the Inland Revenue?
Did you know that almost all incorporated companies are now required to submit a Form 42 to the Inland Revenue?
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