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Newsletter - Summer 2010
Welcome to our summer newsletter
‘Changing childcare’ looks at the proposed reform of employer supported childcare which was outlined at the final session of the previous government.
The new coalition government may have different ideas as to how to progress reform in this area but it is still worth reviewing your childcare provision options. Other relevant employer news includes developments on Additional Paternity Leave and Pay and the National Minimum Wage.
For the employee, obtaining tax reliefs for costs incurred whilst doing your job has always been a difficult argument to uphold. A recent case concerning the BBC news presenter Sian Williams highlights the HMRC’s defence against allowable expenses. Capital allowance claims are also another area HMRC scrutinise. Good planning is essential if you want to maximise the potential of capital allowance claims as highlighted in our article ‘Take care before you buy’.
The 50% tax rate is already here and we will have to wait to see what increases in national insurance contributions ultimately go ahead and whether CT rates will change. In the meantime our article ‘How to get it out’ looks at the best way to extract your hard earned cash using current tax rates in force.
The car scrappage scheme was a huge success resulting in an influx of ‘greener’ cars on our roads. Other incentives to encourage businesses to be greener are interest free, Energy-Efficiency loans for projects which result in C02 savings. Enhanced tax relief may also be available on the purchase of energy saving plant and machinery so check out our related article ‘ Green winner takes it all’.
Please contact us if you have any questions regarding any of the articles or tax planning tips we have included in our newsletter or if you would like further information on a topic we haven’t covered. Your views are always important to us and we would welcome any feedback you could give us.
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