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February 2009 Newswire

Welcome to our monthly newswire...

Our aim is to keep you up to date with ideas and information that will help you gain the best possible advantages in working with us. This newswire will be sent regularly to help achieve this aim, and we hope you enjoy reading them.

We operate a responsible email policy at CW Fellowes, so if you do not wish to receive further copies of this newswire, click here to unsubscribe.

Success at the Beijing Olympic Games

A client of CW Fellowes Limited, North Sails One Design International Limited, whose Head Office is based in Gosport, has become a world leader in sail making through an ongoing commitment to making fast racing sails. This success really shines out when you see the results of the boats that used North Sails in the sailing events at the Olympic Games in Beijing last year. The medallists who used North Sails include the likes of triple Gold Medallist Ben Ainslie, in the Finn Class and double Gold Medallist Iain Percy, in the Star Class. The final tally of medals for North Sails powered boats was 13 over the 11 classes!

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Higher Late Filing Of Accounts Penalties – Watch Out!

If you run your own company you will no doubt be aware that company law requires all companies to file a copy of their annual accounts at Companies House by their ‘due date’. Penalties become payable if these accounts are filed late.

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PAYE Tax Codes About to be Issued

HMRC have advised that they are about to issue PAYE tax codes to employees for the 2009/10 tax year.

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Holidays

On returning to work in the New Year, many will be reaching for the travel brochures to plan their next holiday getaway. Now would be a good time to ensure that your employees’ (or your own) holiday entitlement has been correctly calculated, especially as many employees’ entitlement may need to be increased due to a change in the minimum holiday entitlement, which takes effect later this year.

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Pay HMRC by Direct Debit

HMRC have announced that they are now able to offer more customers the option of paying by Direct Debit. If taxpayers are registered to use Self Assessment Online, PAYE Online for employers or Corporation Tax Online they can now set up Direct Debit payments online. Taxpayers can also make tax credit repayments by Direct Debit.

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Government Help for Businesses

Richard Lambert, CBI Director-General, has given his analysis of the Government’s announcement on lending in the economy.

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Reduction in the Standard Rate of VAT

The standard rate of VAT was reduced from 1 December 2008 from 17.5% to 15%. HMRC have published some further frequently asked questions which clarify the correct treatment in several situations.

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Health in Pregnancy Grant

Pregnant women are being urged to apply for the new Health in Pregnancy grant of £190.

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New HMRC Penalties

There is a significant change in the approach which HMRC will be taking in dealing with tax returns relating to periods starting on or after 1 April 2008, where the return is due to be submitted on or after 1 April 2009.

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HMRC Warn About Email Fraud

HMRC are warning taxpayers that recently they have been made aware of the following scams: 'Online Update' email.

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