Sunday, 28 February 2010

Reminder on new tax year changes

From 6 April 2010:
  • Car benefit rules: For 2010/11, the lower CO2 emissions threshold (which sets the 15% rate) drops from 135g/km to 130g/km. Electric cars pay 0% for 5 years.
  • Personal allowances: personal allowance is reduced by £1 for every £2 of income above £100,000.
  • Income tax rate: 50% income tax rate for income over £150,000 comes into force.

Time bar on VAT refund claims

The European Court of Justice has confirmed an HMRC 3-year time bar on claiming VAT refunds.

Official rate of interest

From 6 April 2010 the official rate of interest will reduce from 4.75% to 4%.

Payment of VAT

HMRC have announced that from 1 April 2010 all cheque payments by post will be treated as being received by HMRC on the date when cleared funds reach HMRC's bank account.

Monday, 22 February 2010

Age discrimination

The owner of a hair salon in Newcastle has been banned by the local Job Centre from advertising for a junior stylist because it might discriminate against older jobseekers.