<html> <head> <meta http-equiv=Content-Type content="text/html; charset=unicode"> <link rel=Edit-Time-Data href="Oct09_files/editdata.mso"> <link rel=themeData href="Oct09_files/themedata.thmx"> <link rel=colorSchemeMapping href="Oct09_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> <div style='border:solid gray 1.0pt;padding:1.0pt 1.0pt 1.0pt 1.0pt' width="100%"> <div style='border:solid black 1.0pt;padding:4.0pt 4.0pt 4.0pt 4.0pt' width="100%"> </div> </div> <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 October 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"'>As we are now half way through the current tax year we have included an article this month on the new loss relief available to companies and the self-employed, a note of the tax advantages of running a double cab pick-up, a note of what you can and can't claim for as home to work travel and finally, for those of our readers who may find it relevant, a reminder of the filing deadlines for tax returns.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Our next newsletter will be published on 5 November 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"></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_i1034" 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'>Northams - about us</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_i1035" 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:10.0pt;font-family:"Arial","sans-serif"'>Northams&nbsp;are Chartered Accountants and Chartered Tax Advisers who specialise in providing a comprehensive range of services to</span><span style='font-size:4.5pt; font-family:&quot;Arial&quot;,&quot;sans-serif&quot;'> </span><span style='font-size:10.0pt; font-family:&quot;Arial&quot;,&quot;sans-serif&quot;'>small to medium size owner managed businesses.</span><span style='font-size:11.0pt;'> </span><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><u1:p></u1:p></span></p> <p><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>We understand that today's business owners expect more than basic accountancy services.</span><span style='font-size:11.0pt;'>&nbsp; </span><span lang=EN style='font-size:10.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;; '>This is why in every case we tailor our services to our client's specific requirements. We provide proactive support and advice to enable them to maximise what they get out of their businesses.&nbsp; We have listened to our clients and as a result have developed our services to help with all their financial needs and to add value to their businesses.</span><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><u1:p></u1:p></span></p> <p><span lang=EN style='font-size:10.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;; '>We offer a fixed fee service whereby all recurring services are provided for an annual fee agreed in advance. We include unlimited telephone calls at no extra cost which means clients can speak to us whenever they need to without worrying about cost.</span><span style='font-size:9.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;'><u1:p></u1:p></span></p> <p><span lang=EN style='font-size:10.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;; '>We aim to minimise tax liabilities and maximise profits by using our own 'Health-checklists' - provided to new clients and reviewed by us at no extra cost. </span><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><u1:p></u1:p></span></p> <p><span lang=EN style='font-size:10.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;; '>We are always happy to talk to business owners without obligation. If you would like to know more about how we can help you, e-mail our principal Colin Gillard in strictest confidence at <a href="mailto:colin@northams.com">colin@northams.com</a> or give him a ring on 07977 272333.</span><span style='font-size:9.0pt; font-family:&quot;Arial&quot;,&quot;sans-serif&quot;'><u1:p></u1:p></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_i1038" 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'>Making the most of loss relief</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_i1039" 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"'>Under concessions offered in the Finance Bill 2009, trading losses for businesses can now be carried back up to a maximum of three years. To qualify the losses must be suffered:</span></p> <p><span style='font-size:9.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;'>1.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span><span style='font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;; &quot;Times New Roman&quot;'>For limited companies, during trading periods ending in the two year period to 23 November 2010, and</span></p> <p><span style='font-size:9.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;'>2.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span><span style='font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;; &quot;Times New Roman&quot;'>For unincorporated, self-assessed businesses, during the tax years 2008 -09 and 2009 -10.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Losses have to be carried back to the latest year first. For example if the loss is incurred in the year to 31 March 2010 the first carry back is to the year ending 31 March 2009 (there is no restriction on the amount of losses carried back to this year). If losses are still available after this first set off they can be carried back a further two years. (In our example to the year ending 31 March 2008 and then the year ending 31 March 2007).</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>However the carry back to these further two years is capped at &pound;50,000 per year against total profits for companies. For unincorporated businesses the carry back to the two earlier years is also capped at &pound;50,000 per year but only against profits from the same trade.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>If the loss carried back reduces taxable profits in any of the earlier years tax refunds should be forthcoming. Readers might like to take the following factors into account when considering their planning options:</span></p> <ul type=disc> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>Tax losses can be enhanced by claims for equipment purchases, and</span></li> </ul> <ul type=disc> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>Self-employed tax payers can lose the benefit of their individual tax allowances and this needs taking into account when making loss relief claims.</span></li> </ul><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_i1042" 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'>Double cab pickups</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_i1043" 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"'>There has been a lot of publicity lately about the tax advantages of running cars with low CO2 ratings. There are a number of benefits:</span></p> <ul type=disc> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>possible 100% first year tax deduction for the cost of the vehicle,</span></li> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>much reduced benefit in kind charges,</span></li> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>lower road fund tax and so on.</span></li> </ul> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>But not all of us want to run such vehicles even if there are tax, VAT and running cost advantages. <br> Double cab pickups, sometimes described as crew cab pickups, are an anomaly! </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>For business users, especially the self-employed, they present an unusual tax opportunity. </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The HMRC web site describes double cab pickups as:</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>&quot;... a front passenger cab that contains a second row of seats and is capable of seating about 4 passengers, plus the driver with four doors capable of being opened independently (two door versions are normally accepted to be vans, even those with rear doors that can only be opened after the front doors and that must be closed before the front doors) and an uncovered pick-up area behind the passenger cab.&quot;</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>From the tax year 2002 -03 onwards a double cab pickup is classified as a van for both VAT and benefits purposes if it has a payload of 1 tonne (1,000kg) or more.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>If your double cab pickup meets this definition: </span></p> <p><span style='font-size:9.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;'>1.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span><span style='font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;; &quot;Times New Roman&quot;'>You can reclaim any VAT added to the purchase price, and </span></p> <p><span style='font-size:9.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;'>2.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp; </span></span><span style='font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;; &quot;Times New Roman&quot;'>The net capital cost (after VAT has been reclaimed) could be available for a 100% first year tax allowance as part of your Annual Investment Allowance up to a maximum of &pound;50,000 each tax year. </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>If you are a director or employee, any significant private use of the double cab pickup will trigger a standard benefit in kind charge of tax on &pound;3,000 per year. In addition if your firm/employer provides fuel to cover private use of the vehicle there will be an extra benefit charge of tax on &pound;500 per year at current rates. The best way to minimise any risk of these benefits being applied is to restrict the use of the pickup to business use only, or make sure that any private use meets the HMRC definition of &quot;insignificant private use&quot;. </span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>If you would like more information regarding this article, or any advice regarding tax effective strategies for running your business vehicles please call.</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_i1046" 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'>Travelling from home to work</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_i1047" 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"'>If you are employed</span></strong></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>There are numerous legal cases establishing the principle that employees cannot claim the cost of travel between home and their normal place of work. H M Revenue &amp; Customs consider this cost merely puts the employee in a position to perform their duties. The definition of employee in the examples that follow includes salaried directors of private limited companies.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Exceptions to this general principle, that home to work travel costs cannot be claimed, are outlined below: </span></p> <ul type=disc> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>Travel costs from home to a temporary workplace can be claimed - a temporary workplace can be a place of continuous work for up to 24 months, if this period is likely to be exceeded from the start, then the workplace would be considered permanent from the start and no relief would be due. (Note: If it isn't known that the contract will exceed 24 months, then relief will be due up to the 24 month point, or up to the point when it is known that the 24 months will be exceeded if earlier.) A temporary workplace is one where less than 40% of working time is spent; if this is the case, the 24 month rule doesn't apply and relief will be available in full.</span></li> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>Travel between two places of work required by the same employer.</span></li> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>Travel to attend an appointment required by an employer. This cost is allowed even if the journey starts at home.</span></li> <li><span style='font-size:9.0pt;font-family:"Arial","sans-serif";"Times New Roman"'>Travel between home and work where home is a workplace and the location of home is dictated by the requirements of the job.</span></li> </ul> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>If you are self-employed </span></strong></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Many self-employed business people have set up their businesses to run from their home address. If you are self-employed you can claim for any travel expense which is required by your trade as long as the business element can be separated from any private element. For instance you may use your car for a trip into town to bank your business cheques and call at the supermarket on the way home.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>To meet the HM Revenue &amp; Custom's requirement of reasonable care in apportioning such costs, you must keep appropriate records. For car users this would normally be a written log of business miles and a record of the vehicles recorded mileage at the beginning and end of each trading year. In this way an accurate assessment of average business use can be calculated and applied to total running costs.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>And don't forget, if you run your business through a limited company you are not self-employed. The comments in the first section of this article would apply to your business.</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_i1050" 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'>Reminder self-assessment filing deadline</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_i1051" 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"'>Don't forget that the self-assessment filing deadline for paper returns (2008 -09) is now 31 October 2009. If you file a paper return after this date you will trigger the &pound;100 filing penalty.</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>HMRC have indicated that if you tried to file online and failed due to some fault in the online filing process, you can still send in a paper copy after the 31 October and as long as you enclose a copy of the online filing error report or details of the error, HMRC will suppress the &pound;100 penalty. (At present HMRC have advised that this reasonable excuse claim must be sent before 23 January 2010).</span></p> <p><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>If we prepare your return after 31 October 2009 we will make every effort to file this electronically - in which case the deadline remains 31 January 2010. However for those clients who have not yet sent us their tax return information for 2008 -09, we do need time to process the information for you, so please submit outstanding paperwork as soon as possible. And don't forget when we have completed the return for you we are not allowed to file unless we have your authority to do so. Please return any written or emailed requests to authorise submission as soon as you can. </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_i1054" 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 October/November 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_i1055" 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 October 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 December 2008.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 October 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - PAYE and NIC deductions due for month ended 5 October 2009. (If you pay your tax electronically the due date is 22 October 2009)</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 October 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 October 2009. </span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 October 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - CIS tax deducted for the month ended 5 October 2009 is payable by today.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>31 October 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - The deadline for filing your 2009 Self Assessment return in paper format.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>1 November 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 January 2009.</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 November 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - PAYE and NIC deductions due for month ended 5 November 2009. (If you pay your tax electronically the due date is 22 November 2009)</span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 November 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 November 2009. </span></p> <p><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>19 November 2009</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'> - CIS tax deducted for the month ended 5 November 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>