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Business Finance PLUS News

January 2010 Edition

Our aim is to keep you up to date with ideas and information that will help you gain the best possible advantages in working with us. This newswire will be sent regularly to help achieve this aim, and we hope you enjoy reading them.

Changes to the Advisory Fuel Rates From 01 December 2009

To reflect the increase in fuel prices, HMRC have issued new advisory fuel rates for employees driving employer provided cars. These take effect for all journeys undertaken from 1 December, so employers using the advisory rates should advise affected employees and update any expense forms as soon as possible.

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HMRC Warn of More Scam Emails

As the end of the year fast approaches HMRC are reminding taxpayers to be vigilant as scam emails have been reported. For details of their latest guidance on scam emails, more information on this and other scams together with a copy of the latest example visit the link below.

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Special Annual Allowance Charge - New Limits For 2009/10

In the Pre-Budget Report earlier this month changes were announced to the complex rules for the Special Annual Allowance (SAA) charge which affects those with substantial income who make significant pension contributions. The current rate of the SAA charge is 20% on excess pension contributions. The aim of the charge is to discourage individuals from making significantly higher pension contributions in anticipation of the removal of higher rate tax relief which will occur in 2011.

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Extra National Insurance Burden Ahead

One of the significant announcements in the Pre-Budget Report earlier this month is a further increase in national insurance contributions (NIC) which is to take effect from 6 April 2011.

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December 2009 Newsletter
November 2009 Newsletter
October 2009 Newsletter
September 2009 Newsletter
August 2009 Newsletter