Business News - Accountants for farmers in Lincolnshire covering Spalding, Wisbech and Market Deeping

Business News - September 2009

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

UK Offshore Amnesty Set For September Launch

The UK’s forthcoming offshore bank account amnesty commenced on September 1, 2009, Moore Thompson accountants warned.

HMRC have provided more details of the New Disclosure Opportunity (NDO) which is due to take place from 1 September 2009 to 12 March 2010. The NDO is for people with unpaid tax connected to offshore accounts and assets and will give the taxpayers one final opportunity to disclose.

From 1 August 2009 the national minimum wage (NMW) for apprentices increased from £80 to £95 per week.

The government has been looking at the best way to address the issue of what they believe is ‘false self-employment’ in the construction industry.

HMRC have updated their guidance on scam emails as they are aware that a large number of individuals are receiving emails offering tax rebates.

For those wishing to complete paper self assessment tax returns, the filing deadline of 31 October 2009 is fast approaching.

HMRC have issued guidance for businesses dealing with the increase in the standard rate of VAT from 15% to 17.5%. The change takes effect from 1 January 2010. They hope that by issuing the guidance well in advance of the change that businesses will have sufficient time to prepare.