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mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";} </style> <![endif]--><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="1026"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body bgcolor="#88AE99" lang=EN-GB link=blue vlink=purple style='tab-interval: 36.0pt'> <div class=WordSection1> <div></div> <p class=MsoNormal><o:p>&nbsp;</o:p></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=650 style='width:487.5pt;mso-cellspacing:0cm;mso-yfti-tbllook:1184;mso-padding-alt: 0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td style='padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;mso-yfti-tbllook:1184;mso-padding-alt: 0cm 0cm 0cm 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style='width:99.0%;border:solid gray 1.0pt;padding:.75pt .75pt .75pt .75pt; font-weght:bold'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif"'><a href="http://www.garbetts.com"><span style='font-size:9.0pt'>Click here to visit our website</span></a><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1026" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Newsletter June 2010<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1027" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width="99%" colspan=3 style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>George Osborne has declared the date of his first Budget, Tuesday 22 June 2010. It's difficult to call any significant changes to the tax system due to the emerging news on higher than expected inflation. A VAT increase, from 17.5% to 20% would feed into the cost of living index and increase inflation in the short term, we may see this increase deferred until early next year when the previous increase in VAT has worked itself out of the numbers. There is continued speculation in the financial press that disposals of non-business assets (shares, investment property etc) will be taxed as income and therefore&nbsp; subject to the disposers highest rate of tax; potentially 40% or even 50%. CGT basic rate is currently 18%. We will of course advise you of the Budget changes as soon as the detail is available.</p> <p>In this newsletter we have included an article that explains how to structure a tax-free long service award, possible benefit in kind complications regarding loans to directors and employees, cars that qualify for the 100% write-off and a word of warning about the initial use of the VAT Flat Rate Scheme.</p> </td> </tr> <tr style='mso-yfti-irow:1;mso-yfti-lastrow:yes'> <td width="45%" valign=top style='width:45.0%;padding:.75pt .75pt .75pt .75pt'> <div align=right> <table class=MsoNormalTable border=0 cellpadding=0 style='mso-cellspacing: 1.5pt;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article1">Garbetts Blog</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article1"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1028" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article3">Companies House Annual Returns</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article3"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1029" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article5">Garbetts.com</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article5"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1030" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article7">Beneficial loans to employees or directors</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article7"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1031" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4;mso-yfti-lastrow:yes'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article9">VAT - starting on the Flat Rate Scheme</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article9"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1032" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> </table> </div> </td> <td width="10%" style='width:10.0%;padding:.75pt .75pt .75pt .75pt'></td> <td width="45%" valign=top style='width:45.0%;padding:.75pt .75pt .75pt .75pt'> <table class=MsoNormalTable border=0 cellpadding=0 style='mso-cellspacing: 1.5pt;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article2">From GFS: Consolidating Pension Gains </a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article2"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1033" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article4">Paying your accountancy fees</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article4"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1034" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article6">Tax-free long service awards</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article6"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1035" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article8">Cars qualifying for 100% tax write-off</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article8"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1036" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4;mso-yfti-lastrow:yes'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article10">Tax Diary June/July 2010</a><o:p></o:p></span></p> </td> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><a href="#article10"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1037" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a><o:p></o:p></span></p> </td> </tr> </table> </td> </tr> </table> <p class=MsoNormal><a name=article1></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1038" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Garbetts Blog<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1039" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>Don't forget to visit our blog for up to date comment, or even better subscribe to it with a aggregator or via the change notification button.</p> <p>On <a href="http://garbetts.blogspot.com/">http://garbetts.blogspot.com/</a>&nbsp;this month:</p> <p>-&nbsp; A change of government</p> <p>- In year PAYE / NI / CIS penalties</p> <p>- Key Points from the Coalitions Joint Programme </p> <p>&nbsp;</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1040" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article2></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1041" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>From GFS: Consolidating Pension Gains <o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1042" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <div> <div> <div> <p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:black'>Investing money in a pension scheme requires careful thought as the decisions made will have a significant impact on your retirement. What you receive back will depend on the performance of the assets which can go down as well as up in value. If you have a money purchase (defined contribution) or personal pension plan, this is particularly important as the investment decisions are down to you. <br> <br> The range of options offered by pension providers is widening. However, the main decision remains how to blend the four main asset classes  equities, property, bonds and cash  to best advantage. Equities have been the best performing asset class over the long term, but carry the most risk; property fluctuates with the ability of companies to buy or rent premises; bonds are influenced by interest rates; and cash ensures capital preservation  but gives no protection against inflation, no chance of capital gain and income is dependent on interest rates. <br> <br> It is common to start with a greater proportion in equities, to maximise the growth potential, but to move into more secure assets as retirement approaches. This helps to lock in any gains, removing the risk that the value of your pension fund will be eroded by a last minute downturn in markets. The idea is that your equity investments will have grown sufficiently over the term that, even if you miss out on a bit of last minute performance, at least you know you won't lose the lot.</span><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:black'><o:p></o:p></span></p> </div> <div> <p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:black'><br> Article contributed by Matt Jones of GFS - <a href="http://www.garbetts.com/gfs"><span style='font-size:9.0pt'>www.garbetts.com/gfs</span></a>&nbsp; - phone 01983 527111</span><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:black'><o:p></o:p></span></p> </div> </div> </div> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1043" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article3></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1044" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Companies House Annual Returns<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1045" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>Every limited company is required to file a Annual Return at Companies House.</p> <p>Just a few points on these:</p> <p>~ first don't confuse the Annual Return to Companies House with Tax Returns or Business Accounts - the Annual Return is separate from your accounts and tax - its a confirmation of the names and address of directors and shareholders, share capital, registered office and similar.</p> <p>~ the date of the annual return is normally around the anniversary of the company's incorporation - its not tied in to accounts or tax year ends</p> <p>~ in addition to the annual return you also have to send annual accounts to Companies House, normally within 9 months of the business year end - this is a separate requirement.</p> <p>~ there is a filing fee for the annual return of £15 if done online, or £30 if done on paper.&nbsp; </p> <p>~ Companies House don't send out pre-printed returns anymore by post, if you want to do the return on paper you have to ask for a blank return or download it, and it won't be pre filled - by contrast online most parts are pre filled and just need confirmation.</p> <p>~ Companies House only send reminders to do the return after its overdue!&nbsp; But don't worry a moderately late return isn't penalised and, indeed, its unusual to get any penalty for a late return - that said if accounts are late as well (and there are strict and onerous penalties for late accounts) then Companies House may start strike off proceedings and / or prosecute the directors.&nbsp; Broadly speaking annual accounts are more important than annual returns.</p> <p>If you need assistance with your annual return, we've got some guidance notes here:</p> <p><a href="http://www.garbetts.com/download/companieshousewebfiling.pdf">http://www.garbetts.com/download/companieshousewebfiling.pdf</a></p> <p>For most of our clients (other than PSC clients on entry level service) we can file your return for you free of charge.&nbsp; All you need to do is:</p> <p>~ ask us to do so</p> <p>~ make sure we have the company security code (there are two parts to the security, a filers login, which all our staff have, and which you may have personally - these are personal to a person, and then the company security code which is unique to the company and is sent by post to the registered office)</p> <p>~ let us have a remittance for £15 - we can't file without this, but you can pay us by cheque, card or paypal.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1046" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article4></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1047" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Paying your accountancy fees<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1048" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>No one likes paying accountancy fees, and we're adjusted to that, but a few housekeeping points if we may:</p> <p>~ Just a note to let clients know that we are now having to make a 2% surcharge on credit card payments for fees, over £600.&nbsp; Payments by debit card, bacs / bank&nbsp;transfer&nbsp;or cheque are not affected.</p> <p>~ We accept payment by paypal, again with a 2% surcharge if over £600.&nbsp; The address is <a href="mailto:office@garbetts.com">office@garbetts.com</a></p> <p>~ If you pay us by standing order for some / all the services we provide to you and need to make a separate payment to us and wish to do so by bank transfer / BACS, then please don't use the standing order account details - standing orders go into a different account.&nbsp; Our main bank account details are on our invoices and statements, or we can give them to you by email / phone.&nbsp; The reason for this is that standing orders are processed in our office in a different way, and invoice payments sent to the standing order bank account will not be credited to outstanding items automatically.</p> <p>Thanks for your help on these points.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1049" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article5></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1050" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Garbetts.com<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1051" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>Don't forget to keep an eye on garbetts.com, our www site, where you can find a selection of tools and briefings to help you with your accounts and taxes.</p> <p>For clients running personal service companies (PSCs), our PSC microsite at <a href="http://www.garbetts.com/psc">www.garbetts.com/psc</a> is an invaluable source of information.&nbsp; </p> <p>For other clients our downloads sections has all sorts of briefings on useful topics.&nbsp; You can also find out more about our tax enquiry insurance schemes at <a href="http://www.garbetts.com/insurance">www.garbetts.com/insurance</a>, and find out more about the firm and its staff at <a href="http://www.garbetts.com/corporate">www.garbetts.com/corporate</a>.</p> <p>Also our blog, with up to date news and comment is at: <a href="http://www.garbetts.blogspot.com/">http://www.garbetts.blogspot.com/</a></p> <p>If your business has a www site then let us know the URL and we can provide a link from our site to help your search engine rankings - a reciprocal link is appreciated.</p> <p>Click on <a href="http://www.garbetts.com">www.garbetts.com</a> today!</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1052" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article6></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1053" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Tax-free long service awards<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1054" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>If you provide an employee with a non-cash award to reward long service, the payment can be made without deduction of tax or National Insurance contributions, as long as the following criteria are observed:</p> <p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;margin-left:36.0pt;text-indent:-18.0pt;mso-list:l0 level1 lfo2; tab-stops:list 36.0pt'><![if !supportLists]><span style='font-size:9.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:Arial'><span style='mso-list:Ignore'>1.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt;font-family: "Arial","sans-serif"'>As this is a reward to employees it is not available to self-employed sole traders or partners. It is available to directors who receive a salary for their services.<o:p></o:p></span></p> <p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;margin-left:36.0pt;text-indent:-18.0pt;mso-list:l0 level1 lfo2; tab-stops:list 36.0pt'><![if !supportLists]><span style='font-size:9.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:Arial'><span style='mso-list:Ignore'>2.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt;font-family: "Arial","sans-serif"'>The award has to mark at least 20 years of service.<o:p></o:p></span></p> <p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;margin-left:36.0pt;text-indent:-18.0pt;mso-list:l0 level1 lfo2; tab-stops:list 36.0pt'><![if !supportLists]><span style='font-size:9.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:Arial'><span style='mso-list:Ignore'>3.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt;font-family: "Arial","sans-serif"'>You must not have made a previous long service award within the last ten years.<o:p></o:p></span></p> <p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;margin-left:36.0pt;text-indent:-18.0pt;mso-list:l0 level1 lfo2; tab-stops:list 36.0pt'><![if !supportLists]><span style='font-size:9.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:Arial'><span style='mso-list:Ignore'>4.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt;font-family: "Arial","sans-serif"'>The value of the reward cannot exceed £50 per year of service - so the maximum value of an award to an employee with 20 years of service is £1,000.<o:p></o:p></span></p> <p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;margin-left:36.0pt;text-indent:-18.0pt;mso-list:l0 level1 lfo2; tab-stops:list 36.0pt'><![if !supportLists]><span style='font-size:9.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:Arial'><span style='mso-list:Ignore'>5.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt;font-family: "Arial","sans-serif"'>As pointed out in the opening paragraph of this article the award has to be made in a non-cash form. Cash awards are taxable as earnings in the usual way. You should also be wary about awards that can quickly be converted into cash, for example marketable stocks or shares or precious metals - these do not fulfil the non-cash criteria.<o:p></o:p></span></p> <p>There are a number of complicated rules to abide by if your payment falls outside the above five points - for instance if you exceed the £50 per year or if the employee has less than 20 years of service.</p> <p>If you are thinking of making use of this potential tax-free perk it is best to check with us before making the award.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1055" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article7></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1056" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Beneficial loans to employees or directors<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1057" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>If a company makes a loan or loans to an employee or director and the combined outstanding value to an individual never exceeds £5,000 there is no personal tax or National Insurance contributions to pay. However, beware; loans to employees who are also shareholders and directors may create a corporation tax charge for the company even if the loan does not exceed £5,000.</p> <p>If the combined amount exceeds £5,000 a potential benefit in kind charge may arise if no interest is charged to the loan account or interest is charged at a lower rate than the official rate published by H M Revenue &amp; Customs.</p> <p>The official interest rates for the last three years are:</p> <p>From 6 April 2007 to 28 Feb 2009 - 6.25%</p> <p>From 1 March 2009 to 5 April 2010 - 4.75%</p> <p>From 6 April 2010 - 4%</p> <p>As we are now approaching the deadline for filing forms P11D, the forms that declare employees' and directors' benefit in kind, it is essential that loans are examined to reveal any benefits due. Overdrawn directors' loans can create difficulties where the amount of loans fluctuates during a tax year.</p> <p>If you would like clarification on the amount of benefit in kind you may have to pay please contact us as soon as you can. P11Ds have to be filed by 6 July 2010.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1058" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article8></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1059" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Cars qualifying for 100% tax write-off<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1060" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>Unless the rules change on the 22 June 2010 company cars that have CO2 emissions of 110g/km or less qualify for a 100% write-off for tax purposes in the year of purchase.</p> <p>The list of vehicles that come within this range of CO2 emissions is expanding. Take a look at the following website that displays a fairly comprehensive list:</p> <p><a href="http://www.comcar.co.uk/newcar/companycar/poolresults/110tax.cfm">http://www.comcar.co.uk/newcar/companycar/poolresults/110tax.cfm</a></p> <p>A few of the more surprising sub-110g/km cars are listed below:</p> <p>Audi A1 and A3; <br> BMW 3 series saloon - 320d EfficientDynamics;<br> Mini Hatch, Clubman, Cambden and Mayfair;<br> Peugeot 207 - 1.6 HDi Economique;<br> Smart - fourtwo coupe and cabrio<br> various VW Golf models;<br> various Volvo C30, S40 and V50 models.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1061" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article9></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1062" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>VAT - starting on the Flat Rate Scheme<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1063" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>As an incentive to new VAT registered businesses to consider using the Flat Rate Scheme, H M Revenue &amp; Customs allow a 1% reduction in the flat rate percentage for your type of business for one year. This can be a significant benefit for newly registered traders. If your turnover including VAT is £117,500 in the first year the 1% will be worth a reduction in your VAT payments of £1,175.</p> <p>Please note that this reduction is only available in the twelve months following registration for VAT. It is not available for the first twelve months you decide to convert to the Flat Rate Scheme if you are an existing VAT registered business. Unless - if say you registered for VAT on the 1 January 2010 and decided to apply to join the Flat Rate Scheme on the 1 April 2010, you could apply the 1% reduction in the rate applicable to your business until 31 December 2010; for the nine months until your first anniversary of registration is reached.</p> <p>For smaller businesses who qualify for the lower flat rate percentages, the scheme can be cash flow positive. If you are about to register, or have recently registered for VAT and would like more information please call.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1064" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><a name=article10></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:0cm;background:#DDDDDD;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1065" src="http://www.taxupdates.co.uk/uktw/images/box_tl.gif"><o:p></o:p></span></p> </td> <td width="99%" style='width:99.0%;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='text-align:center'><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:black'>Tax Diary June/July 2010<o:p></o:p></span></p> </td> <td width=2 style='width:1.5pt;padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><img border=0 id="_x0000_i1066" src="http://www.taxupdates.co.uk/uktw/images/box_tr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p><strong><span style='font-family:"Arial","sans-serif"'>1 June 2010</span></strong> - Due date for corporation tax due for the year ended 31 August 2009.</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 June 2010</span></strong> - PAYE and NIC deductions due for month ended 5 June 2010. (If you pay your tax electronically the due date is 22 June 2010)</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 June 2010</span></strong> - Filing deadline for the CIS300 monthly return for the month ended 5 June 2010. </p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 June 2010</span></strong> - CIS tax deducted for the month ended 5 June 2010 is payable by today.</p> <p><strong><span style='font-family:"Arial","sans-serif"'>1 July 2010</span></strong> - Due date for corporation tax due for the year ended 30 September 2009.</p> <p><strong><span style='font-family:"Arial","sans-serif"'>6 July 2010</span></strong> - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.</p> <p><strong><span style='font-family:"Arial","sans-serif"'>6 July 2010</span></strong> - Deadline for submission of new Tax Credit application for 2010-2011, if you want to secure a full years claim.</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 July 2010</span></strong> - Pay Class 1A NICs (by the 22 July 2010 if paid electronically).</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 July 2010</span></strong> - PAYE and NIC deductions due for month ended 5 July 2010. (If you pay your tax electronically the due date is 22 July 2010)</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 July 2010</span></strong> - Filing deadline for the CIS300 monthly return for the month ended 5 July 2010. </p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 July 2010</span></strong> - CIS tax deducted for the month ended 5 July 2010 is payable by today.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1067" src="http://www.taxupdates.co.uk/uktw/images/arrow.gif"></span></a> </p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p><strong><span style='font-family:"Arial","sans-serif"'>DISCLAIMER - PLEASE NOTE:</span></strong> The ideas shared with you in this email are intended to inform rather than advise. Taxpayers circumstances do vary and if you feel that tax strategies we have outlined may be beneficial it is important that you contact us before implementation. If you do or do not take action as a result of reading this newsletter, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.</p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;background:#F6F6F6;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm;border:##DDDDDD'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;padding:.75pt .75pt .75pt .75pt'> <p>Garbetts,</p> <p>Arnold House, 2-6 New Road, Brading, Sandown, Isle of Wight, PO36 0DT.</p> <p>Tel: 01983 400350&nbsp; Fax: 01983 404016.</p> <p>Web: <a href="http://www.garbetts.com">www.garbetts.com</a></p> <p><span style='font-size:7.5pt'>Garbetts is a limited company, registered in England &amp; Wales with number 02988424.</span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p>if you no longer wish to receive this newsletter <a href="mailto:unsubscribe@taxupdates.co.uk?subject=unsubscribe">click here to unsubscribe</a>. </p> </td> </tr> </table> <p class=MsoNormal><o:p>&nbsp;</o:p></p> </div> </body> </html>