Tax News - March Newsletter 2009

Chancellor Alistair Darling will make his second budget address on April 22nd, it has been announced. Mr Darling has chosen to delay the report until after the G20 summit as the country looks to sink deeper into recession.

As part of his statement, the chancellor may be tempted to introduce new business stimulus measures, which could include a raft of taxation cuts.

There have also been some important changes to the Companies Act 2006 which is featured in our article below.

Support growing for automatic taxation relief 
Parliamentary support is growing for a bill which would ensure businesses receive automatic taxation relief... read more

New video advice for business start-ups
British business start-ups are to be offered advice on a series of taxation issues as part of a new online government scheme... read more

HMRC reports tax returns penalty problems 
HM Revenue and Customs (HMRC) has reported an issue with self-assessment tax returns penalty notices... read more

Redundancy to see rise in sole traders
Rising levels of redundancy have led to a surge in new sole traders, as individuals look to retrain... read more

 

The onset of recession this year has given Britain's small business sector a great deal to think about. That and a whole raft of other changes to the UK's taxation system, including a new rate of VAT and an overhaul to the self-assessment tax returns system.

But small businesses - specifically limited companies - should not overlook the importance of one other major change. From February 1st, a new range of penalties were introduced under section 453 of the Companies Act 2006....  read more