<html> <head> <meta http-equiv=Content-Type content="text/html; charset=unicode"> <link rel=Edit-Time-Data href="July09_files/editdata.mso"> <link rel=themeData href="July09_files/themedata.thmx"> <link rel=colorSchemeMapping href="July09_files/colorschememapping.xml"> <style> <!-- .Section1 {page:Section1;} --> </style> </head> <body bgcolor="#FFFFFF" link=blue vlink=purple class="Normal" lang=EN-GB> <div class=Section1> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td width="100%" class="Normal"><p><a name=top></a><b><span style='font-size:14.0pt; font-family:&quot;Arial&quot;,&quot;sans-serif&quot;;&quot;Times New Roman&quot;'>Northams Chartered Accountants</span></b></p></td> <td class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman"'><img id="_x0000_i1025" src="406.jpg"></span></p></td> </tr> </table> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td width=2 colspan=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1026" src="box_tl.gif"></span></p></td> <td width="100%" class="Normal"><p align=center style='text-align:center'><b><span style='font-size:11.0pt;font-family:"Arial","sans-serif";"Times New Roman";color:black'>Newsletter July 2009</span></b></p></td> <td width=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1027" src="box_tr.gif"></span></p></td> </tr> <tr> <td width=1 class="Normal"></td> <td colspan=2 valign=top class="Normal"><p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Our newsletter this month highlights the deferral of plans to extend paternity leave, changes to the HMRC bank accounts, changes to company car advisory fuel rates and heads up on the Government's activity to clamp down on the use of overseas tax havens.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The next newsletter will be published Thursday 6 August 2009.</span></p><br></td> <td width=1 class="Normal"></td> </tr> <tr> <td width=1 class="Normal"></td> <td colspan=2 valign=top class="Normal"><table border=0 cellpadding=0 width="100%"> <tr> <td width=50 class="Normal"></td> <td valign=top class="Normal"></td> </tr> </table></td> <td width=1 class="Normal"></td> </tr> <tr> <td colspan=4 class="Normal"></td> </tr> <tr height=0> <td width=1 class="Normal"></td> <td width=1 class="Normal"></td> <td width=744 class="Normal"></td> <td width=2 class="Normal"></td> </tr> </table> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td width=2 colspan=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1033" src="box_tl.gif"></span></p></td> <td width="100%" class="Normal"><p align=center style='text-align:center'><b><span style='font-size:11.0pt;font-family:"Arial","sans-serif";"Times New Roman";color:black'>Paternity leave extension deferred</span></b></p></td> <td width=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1034" src="box_tr.gif"></span></p></td> </tr> <tr> <td width=1 class="Normal"></td> <td colspan=2 valign=top class="Normal"><p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The UK Government had planned to give fathers the right to claim up to 6 months paternity leave from April 2010.&nbsp; Because of the economic slowdown, they have decided not to bring the changes in that soon.&nbsp; As a result fathers are still only entitled to two weeks leave which is usually taken immediately after the baby is born.<br> &nbsp;<br> The legislation is already in place to give the extra leave but it will not be implemented until the economy can cope.<br> &nbsp;<br> Mothers and adopters were also going to have the right to additional statutory pay (up from 9 to 12 months) but it looks as though this is also on hold.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The legislation in more detail:</span></strong></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The Work and Families Act 2006 already allows regulations to be made that would permit working fathers to take up to 26 weeks of paternity leave, some of which can be paid, if the mother returns to work before the end of the one-year maternity leave period to which she is entitled.&nbsp; </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The new provision would be available during the second six months of the child's life, so in effect, fathers would be able to 'share' some of the maternity leave which is currently only preserved for the mother. The entitlement would also extend to couples who are adopting and to partners and civil partners of mothers.&nbsp; </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>A Government spokesman has now said that the Department for Business Enterprise and Regulatory Reform is continuing to review the appropriateness of all new regulations due to come into force in the current economic climate and as a result, a date has not yet been announced for extending paternity rights.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>At the same time, the Government had proposed to extend statutory maternity pay and statutory adoption pay from nine to 12 months (to coincide with the period of maternity and adoption leave) and it looks as if this is also on hold.</span></p><br></td> <td width=1 class="Normal"></td> </tr> <tr> <td colspan=4 class="Normal"></td> </tr> <tr height=0> <td width=1 class="Normal"></td> <td width=1 class="Normal"></td> <td width=744 class="Normal"></td> <td width=2 class="Normal"></td> </tr> </table> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td width=2 colspan=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1037" src="box_tl.gif"></span></p></td> <td width="100%" class="Normal"><p align=center style='text-align:center'><b><span style='font-size:11.0pt;font-family:"Arial","sans-serif";"Times New Roman";color:black'>HMRC changed bank account details</span></b></p></td> <td width=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1038" src="box_tr.gif"></span></p></td> </tr> <tr> <td width=1 class="Normal"></td> <td colspan=2 valign=top class="Normal"><p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Taxpayers who currently make bank payments direct to the Accounts Office at Shipley and Cumbernauld should note the following bank account change.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The new bank account details are:</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Accounts Office Shipley</span></strong></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Account Name: HMRC Shipley<br> Sort Code: 08 32 10<br> Account Number: 12001020</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Accounts Office Cumbernauld</span></strong></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Account Name: HMRC Cumbernauld<br> Sort Code: 08 32 10<br> Account Number 12001039</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>If you use online banking and have stored templates to make payments to Shipley or Cumbernauld, make sure you change them to include the new account details set out above.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Full details of the change can be found on the HMRC website <a href="http://www.hmrc.gov.uk/payinghmrc"><span style='font-size:10.0pt'>www.hmrc.gov.uk/payinghmrc</span></a>.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>There&nbsp;is also a cryptic one step forwards, one step back note on the HMRC web site; it reads:</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>&nbsp;&quot;HMRC is aware that some customers are experiencing problems making payments from their banks to the new HMRC bank accounts. We are working to resolve this with the banks involved as quickly as possible. If this affects you, you can continue to use the old HMRC account details to make your payments. We apologise for any inconvenience this may have caused you.&quot;</span></p><br></td> <td width=1 class="Normal"></td> </tr> <tr> <td colspan=4 class="Normal"></td> </tr> <tr height=0> <td width=1 class="Normal"></td> <td width=1 class="Normal"></td> <td width=744 class="Normal"></td> <td width=2 class="Normal"></td> </tr> </table> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td width=2 colspan=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1041" src="box_tl.gif"></span></p></td> <td width="100%" class="Normal"><p align=center style='text-align:center'><b><span style='font-size:11.0pt;font-family:"Arial","sans-serif";"Times New Roman";color:black'>Company cars - new advisory fuel rates</span></b></p></td> <td width=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1042" src="box_tr.gif"></span></p></td> </tr> <tr> <td width=1 class="Normal"></td> <td colspan=2 valign=top class="Normal"><p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Changes have been announced to the company car advisory fuel rates with effect from 1 July 2009.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>These are the rates you would use to calculate the petrol cost of your private motoring, if you pay this back to your employer to avoid the fuel based benefit in kind charge. Employers can also use the figure to isolate the petrol cost of car mileage claims in order to recover an appropriate amount of VAT - businesses still need to retain fuel receipts. </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Some of the rates have been reduced in light of slightly lower fuel prices at the pumps. The figures are arranged as engine size first, followed by three rates (pence per mile), for Petrol, Diesel and LPG. </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>1400cc or less: 10p, 10p, 7p </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>1401cc to 2000cc: 12p, 10p, 8p </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Over 2000cc: 18p, 13p, 12p </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Petrol hybrid cars are treated as petrol cars for this purpose. </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The fuel rates are usually reviewed twice a year effective 1 January and 1 July although may change more often where there is significant fluctuation in fuel prices</span></p><br></td> <td width=1 class="Normal"></td> </tr> <tr> <td colspan=4 class="Normal"></td> </tr> <tr height=0> <td width=1 class="Normal"></td> <td width=1 class="Normal"></td> <td width=744 class="Normal"></td> <td width=2 class="Normal"></td> </tr> </table> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td width=2 colspan=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1045" src="box_tl.gif"></span></p></td> <td width="100%" class="Normal"><p align=center style='text-align:center'><b><span style='font-size:11.0pt;font-family:"Arial","sans-serif";"Times New Roman";color:black'>Clampdown on overseas tax havens</span></b></p></td> <td width=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1046" src="box_tr.gif"></span></p></td> </tr> <tr> <td width=1 class="Normal"></td> <td colspan=2 valign=top class="Normal"><p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>As evidence that our Government are serious about clamping down on the use of overseas tax havens to avoid UK tax, readers may be interested in the following information regarding the Cayman Islands.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>A new Double Taxation Arrangement (DTA) between the UK and the Cayman Islands was recently signed in London.&nbsp; </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The new DTA has been drafted to deal with the avoidance of double taxation and the exchange of information necessary to prevent fraud.&nbsp; The arrangement will apply to taxpayers who are resident in either the UK, Cayman Islands or both jurisdictions.&nbsp; In the UK the agreement will apply to income tax, corporation tax, capital gains tax (in relation to the exchange of information), inheritance tax and VAT.&nbsp; </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The exchange of information provisions meets the OECD standards and it is expected this new DTA will help combat tax avoidance and money laundering involving both countries. </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The DTA will take effect once both countries have finalised the legislative procedures needed to give the arrangement the force of law in both countries.</span></p><br></td> <td width=1 class="Normal"></td> </tr> <tr> <td colspan=4 class="Normal"></td> </tr> <tr height=0> <td width=1 class="Normal"></td> <td width=1 class="Normal"></td> <td width=744 class="Normal"></td> <td width=2 class="Normal"></td> </tr> </table> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td width=2 colspan=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1049" src="box_tl.gif"></span></p></td> <td width="100%" class="Normal"><p align=center style='text-align:center'><b><span style='font-size:11.0pt;font-family:"Arial","sans-serif";"Times New Roman";color:black'>Tax Diary July/August 2009</span></b></p></td> <td width=2 class="Normal"><p><span style='font-family:"Arial","sans-serif";"Times New Roman";color:black'><img border=0 id="_x0000_i1050" src="box_tr.gif"></span></p></td> </tr> <tr> <td width=1 class="Normal"></td> <td colspan=2 valign=top class="Normal"><p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>1 July 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - Due date for corporation tax due for the year ended 30 September 2008.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>6 July 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NIC's.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>6 July 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - Deadline for submission of new Tax Credit application for 2009-2010, if you want to secure a full years claim.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 July 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - Pay Class 1A NIC's (by the 22 July 2009 if paid electronically).</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 July 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - PAYE and NIC deductions due for month ended 5 July 2009. (If you pay your tax electronically the due date is 22 July 2009)</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 July 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - Filing deadline for the CIS300 monthly return for the month ended 5 July 2009. </span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 July 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - CIS tax deducted for the month ended 5 July 2009 is payable by today.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>1 August 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - Due date for corporation tax due for the year ended 31 October 2008.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 August 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - PAYE and NIC deductions due for month ended 5 August 2009. (If you pay your tax electronically the due date is 22 August 2009)</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 August 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - Filing deadline for the CIS300 monthly return for the month ended 5 August 2009. </span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 August 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - CIS tax deducted for the month ended 5 August 2009 is payable by today.</span></p><br></td> <td width=1 class="Normal"></td> </tr> <tr> <td colspan=4 class="Normal"></td> </tr> <tr height=0> <td width=1 class="Normal"></td> <td width=1 class="Normal"></td> <td width=744 class="Normal"></td> <td width=2 class="Normal"></td> </tr> </table> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td colspan=3 class="Normal"></td> </tr> <tr> <td width=1 class="Normal"></td> <td valign=top class="Normal"><p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>DISCLAIMER - PLEASE NOTE:</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> The ideas shared with you in this email are intended to inform rather than advise. Taxpayers circumstances do vary and if you feel that tax strategies we have outlined may be beneficial it is important that you contact us before implementation. If you do or do not take action as a result of reading this newsletter, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.</span></p></td> <td width=1 class="Normal"></td> </tr> <tr> <td colspan=3 class="Normal"></td> </tr> </table> <table border=0 cellspacing=0 cellpadding=0 width="100%"> <tr> <td colspan=3 class="Normal"></td> </tr> <tr> <td width=1 class="Normal"></td> <td valign=top class="Normal"><p><span style='font-size:7.5pt;font-family:"Tahoma","sans-serif"'>Northams</span></p> <u1:p></u1:p> <p><span style='font-size:7.5pt;font-family:"Tahoma","sans-serif"'>21-23 New Street</span></p> <p><span style='font-size:7.5pt;font-family:"Tahoma","sans-serif"'>Devon&nbsp; EX14 1HD</span></p> <p><span style='font-size:7.5pt;font-family:"Tahoma","sans-serif"'>Tel: 01404 45994  Fax: 01404 46470 web: </span><span style='font-size:10.0pt'><a href="http://www.northams.com/"><span style='font-size:7.5pt;font-family:"Tahoma","sans-serif";color:purple'>www.northams.com</span></a><u1:p></u1:p></span></p> <p><span style='font-size:7.5pt;font-family:"Tahoma","sans-serif"'>Northams is registered for VAT under reference no 540590849.</span></p> <u1:p></u1:p> <p><span style='font-size:7.5pt;font-family:"Tahoma","sans-serif"'>The Principal of the firm is a member of the Institute of Chartered Accountants of England and Wales (ICAEW) and the Chartered Institute of Taxation.  These bodies have their headquarters in the <st1:country-region u2:st="on"><st1:place u2:st="on">UK</st1:country-region> and their rules of professional conduct can be obtained from their web sites.</span></p></td> <u1:p></u1:p> <td width=1 class="Normal"></td> </tr> <tr> <td colspan=3 class="Normal"></td> </tr> </table> </div> </body> </html>