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DIVIDENDS AND BONUSES IN ADVANCE OF 6/4/2010

6th April 2010 will bring the 50% higher rate of Income Tax, and maybe it is important that, where you have a flexibility to do so, you consider the option of advancing dividend and salary payments to be made in 2009/2010, rather than 2010/2011.

However please consider the following:

Does your company have the profits and the funds to make such payments?

A dividend must be paid before 5/4/2010, i.e. the payment must have left the company bank account.

A bonus must be paid and processed through the payroll before 5/4/2010.

Please give us a call if you would like to discuss this.

2010 NEW YEAR TAX PLANNING RESOLUTONS

Take a look at these 14 resolutions for your Personal and family tax planning and Business and property tax planning. You can find this here:

CURRENT CLIMATE 2009


The current economic climate is really hurting businesses, and many will not survive. To do so requires more than a sound business; it requires excellent management of business resources, so that you can get through such adverse external conditions.

We have had first-class hands-on experience in managing and advising businesses through difficult times. Some of the areas in which we can help are: Cashflow forecasting Working capital management (debtors , creditors etc) Overhead reviews Redundancy planning Banking relationships Budgeting and forecasting Improvement of working methods Raising funds Strategic guidance
Give us a call, and we'll help you get through this!

DIFFICULTIES WITH PAYING TAX?

From 24 November 2008, HMRC have introduced a new, dedicated business payment support service (Tel: 0845 302 1435), designed to meet the needs of businesses affected by the current economic conditions. Traders concerned about being able to meet tax, NIC or other payments owed to HMRC or anticipating that payments coming due will cause them problems, can discuss payment options to help deal with temporary cash flow difficulties. Tailored, temporary options will be available, such as arranging for payments over a longer period; interest will continue to be payable on overdue taxes, but there will be no additional late payment surcharges on payments included in the arrangement.

Below are other articles you may find of interest...

Annual Holiday Entitlement

Audit Exemption

Collectors Pressurise Small Businesses

Correct Tax Returns

Financial Thresholds April 2008

Income Shifting

Limited Liability Partnerships

Construction Industry Scheme

Payroll: Electronic Filing

P11d Changes 2007/2008 - Van Benefit

Revenue Collection