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In Gordon Brown’s last Budget in 2007 he announced the 10% tax rate would be abolished with effect from April 2008. Somewhat belatedly, Labour back-benchers and other interested groups woke

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In Topical Tips 103 we reported on a change to VAT fuel scale charges effective 1 May 2007. This linked the VAT charge for businesses that recover VAT on fuel used for

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Phased implementation The Companies Act 2006 has passed into law, but its full effects are yet to be felt. Certain measures were introduced immediately, but the remaining aspects of the

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A familiar format Being a limited company is the vehicle of choice for many business people. It is familiar to customers and suppliers and provides limited liability. Many businesses are

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Why is there a Construction Industry Scheme? From 6 April 2007 a new Construction Industry Scheme (CIS) has operated. Whilst it is not ‘new’ any more, the rules are worth

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The Chancellor changes his mind! After a barrage of criticism from the business community, the Chancellor has on 24 January 2008 announced a softening of the new Capital Gains Tax

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Urgent action may be required If you are a pension scheme trustee, urgent action may be required on your part, or on the part of your Scheme Administrator. Who is

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Pensions simplification From A Day (6 April 2006) Pensions Simplification altered all the rules for the various types of pensions that existed and put them into one system. However, there

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The issues from 2007 We hope that over the last twelve months Topical Tips has been useful and interesting. In this last Topical Tips for the year we present a

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Company car mileage rates go up this time! In Topical Tips 100 we advised on the new rates an employee can claim for business mileage when they pay for all the fuel

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Little and large Usually tax allowances and National Insurance (NIC) rates for the coming tax year are published with the Chancellor’s Autumn Statement. However this year, in a break with

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The current position Every person has a nil rate band (NRB) that they can pass on at death that is free of Inheritance Tax (IHT). The current NRB in 2007/08