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font-family:Symbol;} ol {margin-bottom:0cm;} ul {margin-bottom:0cm;} --> </style> <!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; 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]--> <title>Jones Harris | Newsletter January 2010</title></head> <body bgcolor="#C9E7DB" lang=EN-GB link=blue vlink=purple style='tab-interval: 36.0pt'> <div class=Section1> <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 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;background:#016533;padding:0cm 0cm 0cm 9.0pt'> <p class=MsoNormal><a name=top></a><b><span style='font-size:13.5pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; color:white'>Jones Harris<o:p></o:p></span></b></p> </td> <td valign=top style='padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=right style='text-align:right'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><img id="_x0000_i1025" src="http://www.taxupdates.co.uk/uktw/banner_images/210.jpg"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=1 cellpadding=0 width="99%" style='width:99.0%;mso-cellspacing:1.5pt;border:solid gray 1.0pt;mso-border-alt: solid gray .75pt;mso-yfti-tbllook:1184'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width="99%" style='width:99.0%;border:solid gray 1.0pt;mso-border-alt: solid gray .75pt;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";mso-fareast-font-family: "Times New Roman"'><a href="http://www.jones-harris.co.uk"><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"; mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><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";mso-fareast-font-family: "Times New Roman";color:white'>Newsletter January 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"; mso-fareast-font-family:"Times New Roman"'><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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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>Happy New Year...</p> <p>This, our first newsletter for 2010, includes a few ideas for self employed businesses in the run down to the end of the current tax year on 5 April 2010; two updates from HMRC on tax claims and penalties for late payment of PAYE; a few notes on the change in VAT to 17.5% on 1 January and finally your options if you are considering making charitable donations this year.</p> <p>As all our self assessed clients will be aware, the deadline for filing your 2009 SA returns is the end of this month. If by chance you have still not sent in all the information we need to complete your return, now would be a good time to respond please - time is running out. All returns filed electronically after the 31 January, apart from those where the tax is overpaid, &nbsp;will be penalised!</p> <p>Our next newsletter will be published on 4 February 2010.</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'> <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"; mso-fareast-font-family:"Times New Roman"'><a href="#article1">Welcome from Jones Harris</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"; mso-fareast-font-family:"Times New Roman"'><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"; mso-fareast-font-family:"Times New Roman"'><a href="#article3">Free Report - How to beat the Recession and Credit Crunch</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"; mso-fareast-font-family:"Times New Roman"'><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"; mso-fareast-font-family:"Times New Roman"'><a href="#article5">HMRC updates</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"; mso-fareast-font-family:"Times New Roman"'><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;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"; mso-fareast-font-family:"Times New Roman"'><a href="#article7">Charitable giving - the options</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"; mso-fareast-font-family:"Times New Roman"'><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> </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'> <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"; mso-fareast-font-family:"Times New Roman"'><a href="#article2">Introduction to Business Support</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"; mso-fareast-font-family:"Times New Roman"'><a href="#article2"><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> <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"; mso-fareast-font-family:"Times New Roman"'><a href="#article4">Year end tax planning April 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"; mso-fareast-font-family:"Times New Roman"'><a href="#article4"><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:2'> <td style='padding:.75pt .75pt .75pt .75pt'> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><a href="#article6">VAT Rate change 1 January 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"; mso-fareast-font-family:"Times New Roman"'><a href="#article6"><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:3;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"; mso-fareast-font-family:"Times New Roman"'><a href="#article8">Tax Diary January/February 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"; mso-fareast-font-family:"Times New Roman"'><a href="#article8"><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> </table> </td> </tr> </table> <p class=MsoNormal><a name=article1></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1036" 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";mso-fareast-font-family: "Times New Roman";color:white'>Welcome from Jones Harris<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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1037" 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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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>A warm welcome from Jones Harris and to the latest edition of the Tax e-Newsletter.</p> <p>Do you know someone, a friend, business associate or colleague, who you think would benefit from receiving their very own copy of the newsletter? Please send us their details and we will arrange this, free and with compliments from Jones Harris.</p> <p>Please keep sending in any comments. Simply reply to this email or contact us by telephone.&nbsp; </p> <p>We hope you enjoy the following news.</p> <p>If you would like your email address removed from our subscriber list please reply to this email with the word UNSUBSCRIBE in the subject bar.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><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_i1038" 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";mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1039" 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";mso-fareast-font-family: "Times New Roman";color:white'>Introduction to Business Support<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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1040" 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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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 have any queries from any of our articles relating to either VAT or PAYE, your queries should be referred to Ian Purdon by phone on 01253 777124 or by e-mail to <a href="mailto:support@nwbsc.co.uk">support@nwbsc.co.uk</a></p> <p>Ian operates our sister company North West Business Support Centre Limited, who specialise in bookkeeping payroll and VAT services, and provide advice in these areas to Jones Harris clients.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><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_i1041" 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";mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1042" 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";mso-fareast-font-family: "Times New Roman";color:white'>Free Report - How to beat the Recession and Credit Crunch<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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1043" 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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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 class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'>Beating recession and the credit crunch!<u1:p></u1:p></span><o:p></o:p></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'><u1:p>&nbsp;</u1:p></span></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'>We are sure you will have noticed the continuous press coverage during the past few months, warning us that recession is at hand and the credit crunch has arrived! Certainly it seems there is evidence to support this  tightening of bank and mortgage lending, a real slow down in economic growth, and falling house prices. <u1:p></u1:p></span><o:p></o:p></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'><u1:p>&nbsp;</u1:p></span></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'>We have taken time out to write a report on the issues that we feel small businesses may be advised to focus in order to get financially fit  get into shape to survive in  leaner times. We have called the report:<u1:p></u1:p></span><o:p></o:p></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'><u1:p>&nbsp;</u1:p></span></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'> Small Business Survival Kit  beating recession and the credit crunch <u1:p></u1:p></span><o:p></o:p></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'><u1:p>&nbsp;</u1:p></span></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'>It has been a while since we have had a serious downturn in economic growth. It will bring with it, to a greater or lesser degree, a number of key pressures  falling profits, cash flow anxieties and so on.<u1:p></u1:p></span><o:p></o:p></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'><u1:p>&nbsp;</u1:p></span></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'>The report includes a simple Risk Assessment Questionnaire (Yes/No answers to 22 questions) which will give you some indication of possible changes you can make now, to avoid potentially less palatable actions at some future date.<u1:p></u1:p></span><o:p></o:p></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'><u1:p>&nbsp;</u1:p></span></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'>If you would like a complimentary copy of our report to help you to take a realistic look at your business s ability to stay the course, please contact us.<u1:p></u1:p></span><o:p></o:p></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-bidi-font-family:"Times New Roman"'><u1:p>&nbsp;</u1:p></span></p> <p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman"'>An interactive version of the questionnaire is available to use free of charge on our website at <a href="http://www.jones-harris.co.uk"><span style='mso-ansi-font-size:11.0pt;mso-bidi-font-size:11.0pt;mso-bidi-font-family: "Times New Roman"'>www.jones-harris.co.uk</span></a></span><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><o:p></o:p></span></p> <p align=center style='text-align:center'><b>Click here for a call back from our office regarding this article.&nbsp;&nbsp;</b><a href="http://www.taxupdates.co.uk/servlet/com.scl.horus?version=2&amp;service=uktw&amp;function=moreinfo&amp;memberid=JON01&amp;month=January&amp;articleid=42755"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1044" src="http://www.taxupdates.co.uk/uktw/images/email.gif"></span></a> &nbsp;&nbsp; <b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1045" 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";mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1046" 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";mso-fareast-font-family: "Times New Roman";color:white'>Year end tax planning April 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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1047" 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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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>There are a number of year end tax planning issues that it may be productive for you to look at before the end of the current tax year 5 April 2010 (individuals and self employed).</p> <p>The list we have added to this article is not comprehensive - if you would like to discuss your individual circumstances, please contact us as soon as possible as action may need to be taken before the end of the tax year. </p> <p><strong><span style='font-family:"Arial","sans-serif"'>Individuals</span></strong></p> <ul type=disc> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l2 level1 lfo1;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Have you maximised your ISA investments this year?<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l2 level1 lfo1;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Have you maximised your pension contributions?<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l2 level1 lfo1;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>If possible have you utilised your capital gains tax personal exemption? £10,100 2009 -10.<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l2 level1 lfo1;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>If your employer still pays for the private fuel used in your company car you can effectively avoid the car fuel benefit charge if you repay your employer for the private fuel before the end of the tax year. It may be worth crunching&nbsp;the numbers as the tax benefit in kind is expensive and the private fuel refund may be less.<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l2 level1 lfo1;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>For Inheritance Tax purposes each person can give £250 a year to any number of recipients, as well as £3,000 annually over and above that. They can also make regular gifts out of their income (not capital) that should fall to be exempt.<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l2 level1 lfo1;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>If you are married or in a Civil Partnership and one partner/spouse has a much lower level of earned income, consider transferring income producing assets to the lower income earner. With income tax rates due to rise to 50% next year savings could be significant.<o:p></o:p></span></li> </ul> <p><strong><span style='font-family:"Arial","sans-serif"'>Self Employed</span></strong></p> <ul type=disc> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l4 level1 lfo2;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>If you are carrying stock on your balance sheet at cost and it is now worth less than cost, you could revalue, reduce the stock to its current realisable value. This will reduce your trading profit in the current year or increase your losses; it will also reduce your tax bill or increase any loss relief carry backs.<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l4 level1 lfo2;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>If you are about to invest in new vehicles or equipment you should work out the most effective purchase date. Should you commit to the expenditure before the tax year end or afterwards? If your trading year end is 31 March this could make a significant difference. It may help you avoid wasting personal tax allowances or maximise the benefits of loss relief carry back.<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l4 level1 lfo2;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>If you are considering the sale of a business or business property which will create a chargeable gain for capital gains tax purposes you might be advised to delay contracts until&nbsp;after&nbsp;5 April 2010. Any tax payable on gains made on or after&nbsp;6 April 2010 will not be due for payment until 31 January 2012. Tax payable on gains on or before 5 April 2010 will be due for payment a year earlier, 31 January 2011. At present CGT rates are still 18% with the generous Entrepreneurs' Relief of 10% on sales of qualifying business assets - up to a lifetime maximum of £1m chargeable gains. In his recent Pre-Budget Report the Chancellor made no mention of increases in the 18% rate 2010. However, there is always the possibility that CGT rates may be increased in the 2010 Budget....<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l4 level1 lfo2;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Consider your pension options. Could you make additional contributions before&nbsp;6 April to reduce your higher rate tax this year? But beware of the anti forestalling provisions if your income is more than £130,000.<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l4 level1 lfo2;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Are you able to bring forward revenue expenditure, repairs to equipment, redecorating the office, that will help you to reduce profits or increase losses for carry back?<o:p></o:p></span></li> </ul> <p>As indicated in the opening to this article the ideas outlined above are by no means all the options you may have to minimise the amount of tax you pay this year. The key is to bring your current management accounts up to date and weigh the various options. Please call if we can help.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Click here for a call back from our office regarding this article.&nbsp;&nbsp;</b><a href="http://www.taxupdates.co.uk/servlet/com.scl.horus?version=2&amp;service=uktw&amp;function=moreinfo&amp;memberid=JON01&amp;month=January&amp;articleid=63917"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1048" src="http://www.taxupdates.co.uk/uktw/images/email.gif"></span></a> &nbsp;&nbsp; <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";mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><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";mso-fareast-font-family: "Times New Roman";color:white'>HMRC updates<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"; mso-fareast-font-family:"Times New Roman"'><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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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"'>Tax repayment deadlines</span></strong></p> <p>HMRC have recently published the deadline dates for making claims for a repayment of tax. If you have outstanding claims which need to be sorted out make sure they are resolved quickly. The deadlines for tax years 2003/04 and onwards are:</p> <p><u>within self assessment</u></p> <p>2003/04 - 31 January 2010<br> 2004/05 - 31 March 2010<br> 2005/06 - 5 April 2010<br> 2006/07 - 5 April 2011<br> 2007/08 - 5 April 2012<br> 2008/09 - 5 April 2013</p> <p><strong><span style='font-family:"Arial","sans-serif"'>Filing payroll forms P45 and P46.</span></strong></p> <p>Larger employers, 50 or more employees, already have to file these forms online. From April 2011 all employers will have to file starter and leaver forms online (P45 and P46). </p> <p><br> <strong><span style='font-family:"Arial","sans-serif"'>PAYE/NIC New Late payment penalties from 6 April</span></strong> <strong><span style='font-family:"Arial","sans-serif"'>2010</span></strong></p> <p>All employers will be subject to the new late payment penalties from May 2010. This includes payments of:</p> <ul type=disc> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo3;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Tax<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo3;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>National Insurance Contributions (Class 1, 1a,)<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo3;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Construction Industry Scheme deductions<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l0 level1 lfo3;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Student Loan deductions.<o:p></o:p></span></li> </ul> <p>The penalties payable will be calculated as follows on the amount of the late monthly or quarterly payment:</p> <ul type=disc> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo4;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>On the first late payment in a tax year - no penalty<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo4;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Between 2 and 4 late payments a year - 1% (ignoring the first late payment in the year)<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo4;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Between 5 and 7 late payments a year - 2% (ignoring the first late payment in the year)<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo4;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Between 8 and 10 late payments a year - 3% (ignoring the first late payment in the year)<o:p></o:p></span></li> </ul> <p>HMRC also have powers to charge penalties at 5% if an amount is outstanding for 6 months and again at 12 months.</p> <p>Interestingly, if you can argue that you have a reasonable excuse for being late in your payment HMRC may waive the penalty. HMRC define reasonable excuse as something:</p> <ul type=disc> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l6 level1 lfo5;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>unusual<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l6 level1 lfo5;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>that you could not reasonably have known would happen, and which<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l6 level1 lfo5;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>you could not do anything to prevent.<o:p></o:p></span></li> </ul> <p>If you do experience difficulties in keeping your PAYE payments up to date you can still ring the Business Payment Support Service on 0845 302 1435, or call us and we will negotiate for you.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Click here for a call back from our office regarding this article.&nbsp;&nbsp;</b><a href="http://www.taxupdates.co.uk/servlet/com.scl.horus?version=2&amp;service=uktw&amp;function=moreinfo&amp;memberid=JON01&amp;month=January&amp;articleid=64102"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1052" src="http://www.taxupdates.co.uk/uktw/images/email.gif"></span></a> &nbsp;&nbsp; <b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1053" 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";mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1054" 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";mso-fareast-font-family: "Times New Roman";color:white'>VAT Rate change 1 January 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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1055" 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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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>On the 1 January 2010 the VAT basic rate returned to 17.5%. For many traders who pay VAT on the difference between what they charge on invoiced sales and pay on invoiced purchases and services, changes to accounting software should be fairly straight forward. The more well known software providers should have issued clear guidelines. </p> <p>However if your VAT quarterly returns end on 31 January or 29 February 2010 they will include VAT collected and paid at both 15% and 17.5%. Care should be taken especially if you use Cash Accounting or the Flat Rate Scheme. Also take care to access the new flat rates which will apply from 1 January 2010; not all the rates will have returned to the same level set at 1 December 2008! You can access the new rates on the HMRC web site at:</p> <p><a href="http://www.hmrc.gov.uk/vat/start/schemes/flat-rate.htm#5a">http://www.hmrc.gov.uk/vat/start/schemes/flat-rate.htm#5a</a></p> <p>If you are concerned about the changes you need to make and need help with the first two or three VAT returns in 2010 please call. For those clients who already use our services to produce their VAT returns we will make sure all relevant changes are taken into account.</p> <p>Readers may also find the following notes useful:</p> <ul type=disc> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l5 level1 lfo6;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>The new VAT fraction to use if an invoice includes VAT and you want to know the VAT figure within the charge, is 7/47 with a VAT rate of 17.5%. For example to calculate the VAT in a VAT inclusive price of £235 multiple the amount by 7/47, (£235 x 7/47 = £35).<o:p></o:p></span></li> <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l5 level1 lfo6;tab-stops:list 36.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>If you want to increase prices to pass on the VAT increase to customers (e.g. if you are a retailer), multiply the previous VAT inclusive price by 47/46.&nbsp;For example - £115 (old price) x 47/46 = £117.50 (new price).<o:p></o:p></span></li> </ul> <p>There are also complications if you make a supply of services which span the 31 December 2009, or if you issue a credit note after the 1 January 2010 for goods or services supplied before that date. Please call for more information.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Click here for a call back from our office regarding this article.&nbsp;&nbsp;</b><a href="http://www.taxupdates.co.uk/servlet/com.scl.horus?version=2&amp;service=uktw&amp;function=moreinfo&amp;memberid=JON01&amp;month=January&amp;articleid=64287"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1056" src="http://www.taxupdates.co.uk/uktw/images/email.gif"></span></a> &nbsp;&nbsp; <b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1057" 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";mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1058" 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";mso-fareast-font-family: "Times New Roman";color:white'>Charitable giving - the options<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"; mso-fareast-font-family:"Times New Roman"'><img border=0 id="_x0000_i1059" 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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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>There are now a number of options to consider when giving or gifting money or other assets to charities. In a nut shell they are:</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:l3 level1 lfo7; 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";mso-fareast-font-family:"Times New Roman"'>Gift Aid - if you make a cash donation to a charity and sign&nbsp;its gift aid declaration form the amount of your gift is deemed to be received by the charity net of basic rate tax. The charity can subsequently claim back the deemed tax credit and significantly increase the value of the gift. To qualify your donation must be paid out of your taxed income. If you don't pay tax you cannot make a Gift Aid donation. If you are a higher rate tax payer you can claim tax relief at the marginal rate, currently 40%-20%, or 20%.<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:l3 level1 lfo7; 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";mso-fareast-font-family:"Times New Roman"'>Giving through your pay or pension - effectively the donation will be deducted from your gross pay or pension providing you with full tax relief.<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:l3 level1 lfo7; 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";mso-fareast-font-family:"Times New Roman"'>Giving assets to charities - if you give UK land, property or shares listed or traded on a recognised stock exchange, to a charity you can claim income tax relief. In most cases these transfers will also be free of capital gains tax charge.<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:l3 level1 lfo7; 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";mso-fareast-font-family:"Times New Roman"'>Leaving gifts in your will - the amount of the gift will be excluded from the valuation of your estate for inheritance tax purposes.<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:l3 level1 lfo7; 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";mso-fareast-font-family:"Times New Roman"'>Gift via your self assessment tax return - this is a very cost effective way to gift donations to a charity. You give permission on your return for a tax refund to be made direct to the charity. When HMRC make the payment they add on the tax credit and a 3p supplement. In this way the charity has no additional administrative cost to reclaim the Gift Aid tax.<o:p></o:p></span></p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Click here for a call back from our office regarding this article.&nbsp;&nbsp;</b><a href="http://www.taxupdates.co.uk/servlet/com.scl.horus?version=2&amp;service=uktw&amp;function=moreinfo&amp;memberid=JON01&amp;month=January&amp;articleid=63547"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1060" src="http://www.taxupdates.co.uk/uktw/images/email.gif"></span></a> &nbsp;&nbsp; <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=article8></a><span style='font-size:9.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><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:#64A687;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"; mso-fareast-font-family:"Times New Roman"'><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";mso-fareast-font-family: "Times New Roman";color:white'>Tax Diary January/February 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"; mso-fareast-font-family:"Times New Roman"'><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"; mso-fareast-font-family:"Times New Roman";display:none;mso-hide:all'><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;border:##64A687'> <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 January 2010</span></strong> - Due date for corporation tax payable for the year ended 31 March 2009.</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 January 2010</span></strong> - PAYE and NIC deductions due for month ended 5 January 2010. (If you pay your tax electronically the due date is 22 January 2010)</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 January 2010</span></strong> - Filing deadline for the CIS300 monthly return for the month ended 5 January 2010 </p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 January 2010</span></strong> - CIS tax deducted for the month ended 5 January 2010 is payable by today.</p> <p><strong><span style='font-family:"Arial","sans-serif"'>31 January 2010</span></strong> - Last day for electronic filing of Self Assessment returns for 2009</p> <p><strong><span style='font-family:"Arial","sans-serif"'>31 January 2010</span></strong> - Due date for payment of any balance of self assessment liability for the tax year ending 5 April 2009, plus any payment on account due for the tax year ending 5 April 2010. </p> <p><strong><span style='font-family:"Arial","sans-serif"'>1 February 2010</span></strong> - Due date for corporation tax payable for the year ended 30 April 2009.</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 February 2010</span></strong> - PAYE and NIC deductions due for month ended 5 February 2010. (If you pay your tax electronically the due date is 22 February 2010)</p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 February 2010</span></strong> - Filing deadline for the CIS300 monthly return for the month ended 5 February 2010 </p> <p><strong><span style='font-family:"Arial","sans-serif"'>19 February 2010</span></strong> - CIS tax deducted for the month ended 5 February 2010 is payable by today.</p> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p align=center style='text-align:center'><b>Click here for a call back from our office regarding this article.&nbsp;&nbsp;</b><a href="http://www.taxupdates.co.uk/servlet/com.scl.horus?version=2&amp;service=uktw&amp;function=moreinfo&amp;memberid=JON01&amp;month=January&amp;articleid=63732"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1064" src="http://www.taxupdates.co.uk/uktw/images/email.gif"></span></a> &nbsp;&nbsp; <b>Back to top&nbsp;&nbsp;</b><a href="#top"><span style='text-decoration:none;text-underline:none'><img border=0 id="_x0000_i1065" 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"; mso-fareast-font-family:"Times New Roman"'><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;border:##64A687'> <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"; mso-fareast-font-family:"Times New Roman"'><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;border:##64A687'> <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 wish to contact us for information, advice or any queries please contact Peter Neill on 01253 874255.</p> <p>Jones Harris Chartered Accountants<br> 17 St Peters Place, Fleetwood, Lancs, FY7 6EB.<br> Telephone: 01253 874255&nbsp; Web: <a href="http://www.jones-harris.co.uk">www.jones-harris.co.uk</a>.</p> <p>Jones Harris is a partnership, registered for VAT under reference 154 1957 57.</p> <p>Partners in the firm are members of the Institute of Chartered Accountants in England and Wales (ICAEW). This body has their headquarters in the UK and its rules of professional conduct can be obtained from its web site.</p> <p>Jones Harris are authorised to act as statutory auditors by the ICAEW.</p> </td> </tr> </table> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman"'><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><span style='mso-fareast-font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> </div> </body> </html>