As of this year, travellers are permitted to bring back VAT and duty free goods to the value of £390. This is a modest increase on the £340 limit in place but is a significant increase from the £145 limit that prevailed for many years prior to December 2008.
The new £390 limit applies to any travellers to countries outside the EU, such as the US, Japan and Australia, who wish to bring items, such as electronic goods, perfume, clothes and souvenirs back into the UK.
For any help and advice regarding taxation, tax planning or general accounting advice please contact us.
Friday, 27 August 2010
Friday, 6 August 2010
National Minimum Wage increases from 1st October 2010
The national minimum wage rates will increase for pay reference periods starting on or after 1st October 2010 onwards.
Main rate for workers 21 years old and above £5.93 per hour
Rate for workers aged 18-20 years inclusive £4.92 per hour
Rate for workers under 18 years and above
compulsory school age £3.64 per hour
A new apprentice rate of £2.50 per hour will be introduced for pay reference periods starting on or after 1st October 2010. This will apply to apprentices who are workers and
• Aged under 19
• Aged 19 and over and in first year of their apprenticeship.
Until October 2010, 21 year olds remain in the 18-21 year old rate band.
Main rate for workers 21 years old and above £5.93 per hour
Rate for workers aged 18-20 years inclusive £4.92 per hour
Rate for workers under 18 years and above
compulsory school age £3.64 per hour
A new apprentice rate of £2.50 per hour will be introduced for pay reference periods starting on or after 1st October 2010. This will apply to apprentices who are workers and
• Aged under 19
• Aged 19 and over and in first year of their apprenticeship.
Until October 2010, 21 year olds remain in the 18-21 year old rate band.
Wednesday, 4 August 2010
Tax Investigation specialists
Marshall Smalley Accountants are specialists in dealing with HMR&C tax investigations. We are based in Nottingham but work thoughout the East Midlands and Nationally. We will work with you and negotiate with HMR&C for the best possible outcome.
Contact the tax investigaion specialists on 0115 9565171
Contact the tax investigaion specialists on 0115 9565171
Electronic vat filing
The rules changed in April 2010, from now on you will have to submit your VAT returns online and pay any VAT due electronically if you have an annual turnover of £100,000 or more (exclusive of VAT).
If you have registered for vat on or after 1 April 2010 then you must file your vat returns online and pay any vat due electronically.
Even if your turnover drops below £100,000 (exclusive of vat) in the future you will still have to file your returns online.
For any help or questions regarding vat please contact Nottingham Accountants Marshall Smalley on 0115 9565171
If you have registered for vat on or after 1 April 2010 then you must file your vat returns online and pay any vat due electronically.
Even if your turnover drops below £100,000 (exclusive of vat) in the future you will still have to file your returns online.
For any help or questions regarding vat please contact Nottingham Accountants Marshall Smalley on 0115 9565171
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