The National England Bowls Championships 2011 return to Worthing's Beach House Park, in August, as hundreds of bowlers get set to compete for various titles. Events run from August 13th to 28th, with one of the most prestigious tournaments being the Men’s National Champion of Champions Competition. We are delighted to sponsor this tournament which attracts thousands of entrants from across England every year.
I have just been reading details of the new 'education' initiative by HMRC. The scheme is designed to help new business owners by talking them through the main things they need to be aware of and direct them to the relevant page on their online help.
If you prepare a paper tax return every year you need to be aware that from the end of October, if your tax return is submitted even a day late then you will be instantly hit with an £100 fine. This amount will go up by £10 per day if your return is filed more than three months late to a maximum of £900. After six months the penalty will increase even further by the larger of £300 or 5% of the tax due.
To mark the retirement of Peter Lansberry we recently held a summer drinks party at the Drill Hall in Horsham. We invited clients along to join us in thanking Peter for his outstanding contribution to the firm. Over the years he worked closely with Housing Associations and local charities.
HMRC have recently issued VAT notice 09/11 which advises on the new special scheme for academies to recover VAT incurred on their 'non-business' activities. Broadly speaking an academy's non-business activities will be the provision of free (i.e. grant funded) education.
employers - do nothing about pensions!
The national media has recently begun to wake up to the fact that it is only a year or so until the new pension laws come into place. In simple terms, these rules will mean that every employer will have to pay contributions into a pension scheme for nearly every employee in the UK. However, little attention has been given to the fact that most employers will have to do absolutely nothing until the spring of 2014. Only the very largest employers will have to act next year.
I have just been reading an interesting announcement issued by the government at the end of last month. Individuals and non-corporate bodies who own works of art could soon benefit from donating these to the nation, with a reduction in their personal tax liability. This is an encouraging development from the reduction in Inheritance Tax already announced for donations from someones estate.
I have just been looking through the proposed rules for determining whether an individual is UK resident or not. The changes should make determining the residency status of someone a lot easier going forward. Whether or not this is a good move we will not know until the rules are fully in place but I do believe that it a positive approach to an area that has always been a bit of a minefield.
The tribunals have recently ruled on the case of Reed Employment. The case concerned the VAT treatment of charges Reed Employment to its customers, specifically whether VAT was due on the full amount invoiced.