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Bruce Elkins GHG Guinness Premiership Rugby Clubs Charity Cycle Challenge

Bruce captained the Tottonian Colts before making his first team debut in 1975 and finally retiring in the year 2000, although he still has involvement in the Club.

Bruce will be raising funds for Wessex Cancer Trust (www.wessexcancer.org) and Rose Road Association (www.roseroad.org) and hopes to raise £20,000 in recognition of 20 years of fundraising.  The challenge will be sponsored by The Graham High Group Limited (www.highgroup.co.uk) who are the current proud sponsors of London Irish and previous sponsors of Tottonians (www.tottonians.com).

It is hoped that Bruce will be joined by a team of up to 10 cyclists and a support vehicle supplied by Abacus Car & Van Hire (www.abacusvanhire.co.uk).

Bruce will also be looking for sponsors of each cycle leg from club to club and welcomes any interest by email to baelkins@cwfellowes.com or sarahm@cwfellowes.com or by telephone to the office on 023 8024 7070.

[*The precise dates will not be determined until the club fixture lists for 2010/11are finalised.]

The Tax Health Plan (THP)

HMRC have obtained information from various sources, including NHS trusts, private hospitals and medical insurers and are introducing the THP as an opportunity for medical professionals with tax to pay to get their affairs up to date with the benefit of a fixed penalty. Taxpayers must notify HMRC of the intention to make a disclosure by 31 March 2010 and must make a full disclosure of all undeclared liabilities and full payment of all outstanding taxes and duties, interest and penalties by 30 June 2010.

The penalty is fixed at 10% of the taxes/duties underpaid unless the total amount of unpaid liability being disclosed is less than £1,000, in which case there is no penalty.
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HMRC will pursue those with undeclared tax liabilities who decide not to make a disclosure.

The THP is initially open to members of the General Medical Council but is expected to be extended to other health professionals including dentists.

If you have any concerns in this area please do get in touch.

Internet link: HMRC guidance on THP

HMRC New Scam Emails

Employment Rights - Statutory Limits

The limit on the amount of the compensatory award for unfair dismissal is set to decrease from 1 February 2010. The current maximum of £66,200 is to reduce to £65,300, due to the decrease in the retail prices index measure of inflation. This new limit applies where the event giving rise to the entitlement to the payment arose on or after 1 February 2010. The maximum amount of a week's pay for the purpose of calculating the basic or additional award of compensation for unfair dismissal or redundancy payment has not been amended from the current amount of £380. This rate has been in force since 1 October 2009.

The Business Link website includes a useful calculator of statutory redundancy entitlement.

Internet links: Business link calculator and Statutory instrument 

Dispensations - New Online Application Form

Tax Codes Being Issued

HMRC are advising employees that between January and March 2010 they will be issuing new PAYE coding for 2010/11. The tax codes should reflect the individual’s personal circumstances and include the tax allowances and reliefs that individuals are entitled to. HMRC are advising that this is the first time the annual coding process will take place using HMRC's new computer system for processing PAYE, known as the National Insurance and PAYE Service (NPS). HMRC are expecting more employees than usual, approximately 25 million, to receive coding notices because of the new system.

However, it appears that there may be a problem with the new coding notices, according to the Chartered Institute of Tax President Andrew Hubbard

 “Most people on PAYE are used to assuming that what the taxman sends them is correct. Many file away coding notices without even bothering to check them.”

“But this year, many of them are being given wrong information, and unless they spot it and tell HMRC, their employer will receive the wrong information too, and they could get a nasty shock when they open their April pay packet and see it is as much as a hundred pounds lighter than they are expecting.”

According to the CIOT website

‘Those affected are thought to include taxpayers who have left a job in the last few years. The HMRC database appears to have ‘lost’ the information it holds about people leaving jobs and as a result is combining taxpayers’ current employment records with old data and concluding that they have two (or more) jobs and much higher earnings than they do.

Anyone with two jobs normally has their personal allowance (the portion of your income you do not have to pay tax on) counted against the job with the highest wage. As a result of the error many people will, in effect, have their personal allowance split between two jobs or allocated to a job they no longer have, meaning their current employer will be obliged to deduct too much income tax. The personal allowance will be £6,475 for most people under 65 in 2010/11. If the whole of that personal allowance is wrongly applied that would cut a basic rate taxpayer’s pay packet by about £108 a month or £1,295 a year.’

If you receive a new tax code and are unsure whether or not it is correct please let us know so we can check it for you.

Internet links: HMRC guidance on tax codes and Chartered Institute of Tax statement

Scrappage Scheme

Lord Mandelson, Business Secretary, said:

“I’m pleased to see that the scheme has been taken up by so many people, supporting our automotive manufacturers through a very difficult time. With limited orders as we near the close of scrappage there is a risk of disappointment for car buyers. I would urge people who are still keen on taking part to put their orders in as soon as possible as time is running out.”

For general information on the £2,000 scrappage discounts and other conditions visit the scrappage website link below. For HMRC’s views on the business tax and VAT implications of the car and van scrappage scheme use the HMRC link below.

If you have any queries on the tax implications of the scheme please do get in touch.

Internet links: BIS press release Scrappage website and HMRC Brief

Statutory Payments

The new Statutory Payment Rates for 2010/11 have been announced. The current Statutory Sick Pay (SSP) weekly rate of £79.15 is being retained for 2010/11. The Statutory Maternity Pay (SMP) standard rate will be £124.88 for payment weeks beginning on or after 4 April 2010.  The current rate is £123.06.

The same weekly rate applies to Statutory Paternity and Statutory Adoption Pay.

If you would like any help with any of these statutory payments please do get in touch.

Internet link: Business link statutory payment rates

Using Your Own Car For Work

Tax Payments

For those making tax and national insurance payments, HMRC are reminding that their bank details changed last year.  To confirm that you are making payment to the correct bank account please visit the link below. Internet link: HMRC bank details