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Chancellor of the Exchequer Alistair Darling has delivered a much-anticipated Pre-Budget Report against a backdrop of economic slowdown and turbulence in the global economy, which has steadily deteriorated since the 2008 Budget on 14 March. |
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The DWP announced last week that the Government is proposing an amendment to the Pensions Bill which will allow some people to make up to six additional years of voluntary (Class 3) NI contributions in addition to those permitted under existing time limits. |
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The Ministry of Justice has announced an increase in the amount of the statutory legacy on intestacy. The statutory legacy is the amount which an individual is entitled to receive from the estate of their husband, wife or civil partner where the individual has not made a Will. |
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HMRC have updated their guidance on buying goods on the internet explaining when duty and / or VAT will need to be paid. |
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Following changes made to the Sex Discrimination Act and to the Maternity and Parental Leave Regulations, the law on contractual terms of employment during Additional Maternity Leave (AML) changed in respect of women whose babies were due on or after 5 October 2008. The date the baby is due, as shown on the MATB1 certificate (provided by the midwife or doctor at around 20 weeks into the pregnancy) is the relevant date and not the date the baby is actually born. |
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HMRC have updated their model Gift Aid declaration form for charities and community amateur sports clubs to reflect the reduction in the basic rate of tax from 22% to 20% from the beginning of this tax year. |
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The system of capital gains tax (CGT) for individuals and trustees changed radically from 6 April 2008. The changes included the abolition of taper relief and indexation allowance and the introduction of a single rate of CGT of 18%. |
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Gloucestershire accountants
Randall & Payne have highlighted new registration requirements
for firms providing accountancy services to help prevent criminals
enjoying the proceeds of illegal activity. |
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For many employed individuals who are checking their payslip this month it should include a welcome bonus of a £60 reduction in their income tax deduction. |
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A CBI forecast has predicted a ‘shallow recession’ during the final part of 2008 and that growth in the economy in 2009 will be the lowest since 1992. |
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In a move to help the property market and first time buyers, Alistair Darling has introduced a Stamp Duty Land Tax (SDLT) exemption or holiday for purchases of residential property from 3 September 2008 to 2 September 2009 (inclusive). |
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HMRC are warning taxpayers that they are aware of a high number of emails being sent out offering a tax rebate. |
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From 27 October 2008, in a change to the benefits system, Employment and Support Allowance (ESA) will replace the current state benefits (Incapacity Benefit and Income Support) which are paid to individuals on incapacity grounds. |
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National Minimum Wage (NMW) rates are set to rise from 1 October 2008. |
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The anticipation sweeping the nation as GCSE and ‘A’ Level
students await their exam results has been echoed at Gloucestershire
based Chartered Accountants Randall and Payne.
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It now looks like we
have managed to talk our self into a recession, so maybe we can
talk ourselves out of it. |
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The government has announced
a package of measures to help boost a struggling property market,
including raising the stamp duty land tax threshold by £50,000.
Brought in for a twelve month period from 3rd September 2008 to
3rd September 2009, a home must now sell for £175,000 before stamp
duty is paid. |
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Gloucestershire based accountants
and business advisers Randall & Payne are highlighting government
proposals to tackle discrimination, including moves to close the
pay gap between men and women, which have potential implications
for local firms. |
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Charities are entitled to claim a tax repayment in respect of gift aid donations made by individuals. |
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HMRC have announced that some changes to penalties and calculation of arrears of National Minimum Wage (NMW) payments have been delayed to April 2009. |
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HMRC have published a leaflet on the new HMRC penalties warning tax payers to make sure that their records are sufficient to comply with the new penalty regime. |
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HMRC are reminding taxpayers who wish to complete paper self assessment tax returns that the new 31 October 2008 deadline is ‘only weeks away’ |
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HMRC have issued revised guidance on Charity Challenge Events, including those that qualify for the VAT Charity Fundraising Exemption. |
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HMRC have now issued further guidance on the increase in the personal tax allowance which is due to take effect from 7 September 2008. |
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HMRC have issued revised guidance on the system of penalties which they will be able to apply to taxpayers. |
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Businesses have long been allowed to correct net errors not exceeding £2,000 in their VAT returns. |
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HMRC has been busy aligning its own rights and powers following the merger, several years ago, between the two old organisations of the Inland Revenue and HM Customs. |
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Gloucestershire
based accountants Randall and Payne have recently encouraged
enterprise in local sixth form students by sponsoring an award
at St Peter’s High School. Teachers put students forward for
the award, based on demonstrations of enterprise, such as charity
fundraising, and wider achievement. |
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Gloucestershire
based accountants Randall and Payne have recently acted as judges
in a ‘Dragon’s Den’ style enterprise competition organised by
the University of Gloucestershire, awarding top prize to a cupcake
boutique. |
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Gloucestershire
based accountants Randall and Payne have boosted their tax investigation
and compliance skills recently through the appointment of an
ex-HMRC Inspector. John Gaze joined the firm at the beginning
of June as a Tax Manager. |
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Two
of the major independent accountancy practices in Stroud and
the Gloucestershire area have merged recently, with effect from
1st May 2008. Randall and Payne and Dudbridges have both been
practising for over 100 years and historically have been the
largest accountancy firms in the Stroud area. |
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Gloucestershire
based accountants Randall and Payne are helping to encourage
entrepreneurial thinking regionally and nationally, by collaborating
with the University of Gloucestershire on a new initiative. Randall
and Payne are on the judging panel, and are also sponsoring the
BUG awards – the University’s new business planning competition. |
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Stroud-based
accountants and business advisers Randall & Payne is building
new relationships with local schools to celebrate pupils’ enterprise
and achievement. |
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An
accountant at Stroud-based accountants Randall & Payne has
passed a significant milestone in her career. |
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A
team from Gloucestershire accountancy firm Randall & Payne
plan to put in an “oarsome” performance when they take to the
water to help raise funds for children with cancer. |
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Omega Resource Group plc is celebrating their tenth anniversary
this year. The recruitment firm, who now boast 8 UK offices and
3 offices overseas, established in 1998 in Gloucestershire. |
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Gloucestershire based accountants Randall and Payne are proud
to announce that employee Matt Link has recently passed his Microsoft
Certified Technology Specialist exams. Matt is now a certified
qualified IT programmer competent at using .NET framework version
2.0. |
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Gloucestershire based chartered accountants Randall and Payne
is congratulating three of their clients on award wins in the last
twelve months. The firm, with offices in Stroud and Stonehouse,
have been providing accountancy services to each of the local firms
for a number of years |
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Stroud-based accountancy practice Randall and Payne have significantly
increased their client base by acquiring a new business. Sole-practitioner
Geoff Slingsby, owner of A G Slingsby and Co, is retiring after
practising locally for over thirty years. |
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Gloucestershire-based accountancy firm Randall and Payne demonstrated
their ongoing commitment to continual professional development
recently, when the practice received approval as an AAT accredited
employer. |
