This month sees the start of a new tax year. To set the scene for the new fiscal year we have included a reminder this month that "income shifting" has not gone away and we need to prepare ourselves for legislation in this area next year. Additionally we have outlined changes to Revenue powers, a reminder of the disqualification test for contractors, and changes to the filing deadline of limited company accounts with Companies House.

It would be difficult to send a newsletter this month without referring to the current economic chaos, talk of recession, the credit crunch. So this month we offer a few tax ideas that may help businesses use tax strategies to ease their cash flow - pay less tax! We have also offered an explanation of the tax consequences when a director borrows money from their company. On 2 September the Chancellor announced a relaxation to the stamp duty rules - we have included a note of the detailed changes. We also enclose an article in relation to salary sacrifice arrangements.

This month our newsletter includes some of the tax implications of employee share acquisitions, and of redundancy payments; VAT on excess charges in car parks; a pre tax year end check list for the self employed; a comment on the effects of exchange rate fluctuations if you sell property abroad; and finally an update from HMRC on advisory fuel rates, the tax status of bonus payments to pensioners, HMRC interest rates, HMRC payment methods and an announced further offshore disclosure facility. We also would like to invite you to sign up for our new free bulletin, more details below.

In our bumper newsletter this month we have included details of a new inheritance tax planning strategy, an article about tax efficient payments to mobile employees, a tax planning idea with regard to company cars, an article about the tax issues of living in France, a few practical tips for accommodating the reduction in the VAT standard rate to 15% on 1 December 2008, a note of the VAT consequences for house builders who rent out property, a reminder of the increased late filing penalties for companies and a commentary on the National Minimum Wage as it affects directors of small companies.

The newsletter this month includes an update on the new H M Revenue & Customs powers; the effect of charging rents and claiming the new CGT entrepreneurs' relief; new filing details for limited companies and limited liability partnerships, and finally new mileage rates effective from 1 July 2008.

Happy New Year! The emphasis of our newsletter this month, and likely emphasis for the rest of 2009, is to support you through the present economic uncertainty. Whatever the specific difficulties you encounter, being informed will always be of use. If there is a topic that you would like to see in this newsletter just reply to this email, we will do our best to include commentary in future editions. This month we have included an article which focuses on the key tax payment and filing deadlines at the end of January; a further update on the new

We have listed below a summary of some of the tax breaks that are available to farmers, and in some cases market gardeners. If you would like more information on any of the issues raised please call, see contact details at the end of this fact sheet. Surplus Business Accommodation - In certain circumstances, farmers who let part of their business premises can treat the rents received as trading income rather that property income. This simplifies the computations and enables loss relief to be set off more easily. Grazing Lets - Most agreements for grazing lets are considered licences in land

In this issue of the newsletter we have included features on the tax rules for tips, the new VAT disclosure limits and new guidelines from HM Revenue & Customs regarding the tax status of certain workers. We have also included an interesting tip for business owners who trade through a limited company and manage their business from home. There is also a useful tip for charities and voluntary registration for VAT purposes and finally a warning regarding the latest e-mail scam purporting to be from HM Revenue and Customs.

What is the fundamental advice you would give to a store owner that was thinking of selling their business? Seek good, quality advice and seek it early. It’s never too early to start planning the sale of your business. But taking a company to market without proper planning can significantly reduce your chances of optimising the market value. A good advisor will help you shape your business so that it looks attractive for the purchaser and obtains a higher price.

“In the short-term, there have been some small-scale, targeted tax concessions for particular groups such as pensioners and the low-paid – which is good news for those who have been struggling to make ends meet. “The increase payment of £20 on Child Tax Credits from April next year as well as extending the guarantee mortgage securities scheme will also bring some light relief to both families and individuals.

Experts are warning that many businesses are missing out on cash savings worth thousands of pounds by simply overlooking the fact that they could be eligible to deregister for VAT. Local accountancy firm, Armstrong Watson is alerting small businesses that they can deregister for VAT for a number of reasons but one most notably in the current economic climate is if its turnover in the next 12 months is likely to fall below £65,000. Val Vince, VAT consultant from Armstrong Watson confirms: “Businesses are feeling the pinch

This month we have included details of the Chancellor's proposed changes to the Capital Gains Tax legislation which will now take place on 6 April 2008. The expected concessions to ease the impact of CGT on certain business sales are included. We have also included a check list outlining personal tax planning opportunities pre 6 April 2008, a discussion of the associated company dilemma, and finally an article about code numbers! The budget has been announced as taking place on 12 March. As always, Armstrong Watson will be providing our interpretation of the announcements on the day.

Alistair Darling has been cornered yet again by various lobby groups and we have another significant concession to report this month - his latest attempt to still backbench rumblings over the withdrawal of the 10% tax band. You may also have picked up from the press the controversy over MPs expenses paid with no receipts! We have added an article this month that sets out certain expenses that HMRC will now accept can be paid without evidence - an attempt, maybe, to level the playing field?

Attention on this side of the desk is fixed firmly on the Budget statement expected Wednesday, 12 March. We will be including commentary on the areas of interest to clients in our next newsletter. The current tax year finishes on 5 April. This newsletter includes a reminder on the research and development deadline looming, a comment on Employer Compliance Reviews, a few tax planning pointers for business clients, the treatment of loans for National Insurance purposes, a note regarding certain capital losses that can be set against income, and finally a VAT

Twoey Toys, is the trading name for Mike Miller Associates Ltd, an engineering based company, and has been supplying the Educational supply sector for some 13 years now during which its growth has been significant mainly through its existing customer base taking more products. By acquiring Active Designs, MMA has added a well known and established educational equipment supplier to its strong portfolio. Both companies design and manufacture their products in the UK only. Active Designs is already a wellestablished brand within the teaching profession, and its designs are geared

Armstrong Watson has today announced the launch of its new website following an 18 month development programme. During this time the firm embarked on an in-depth brand positioning process, firstly talking to its clients and business owners across all of its 15 office locations, its 400 strong employee team as well as a wide range of other associates and stakeholders. The process has enabled the firm to clearly present its unique client proposition and what it is that fuels team spirit across the group.

Idon’t think a day has gone by in recent months without the phrase ‘credit crunch’ being uttered and the word ‘recession’ is becoming ever more common place. This combined with the demise of some of the world’s most iconic financial institutions means vital funding is coming under greater scrutiny. Whether it’s a short-term loan or a longer-term investment the increasingly stringent criteria applied by lending institutions means that only the most robust businesses will have access to the essential finance they need to thrive. So how do companies respond to the challenging

Armstrong Watson has become the first accountancy firm to be awarded ‘Payroll Quality Partnership’ (PQP) status from the Institute of Payroll Professionals (IPP). To date, only five companies across the UK have received the recognition with 120 further companies working towards the award. To meet stringent IPP criteria, Armstrong Watson’s commercial payroll bureau introduced a ‘payroll competence framework’ setting a number of agreed performance standards for its sixteen strong payroll team.

There are occasions when one or more shareholders may decide that they will forgo their rights to a declared dividend. For instance say Company A votes a dividend of £100 per share to the owners of its issued share capital, 100 Ordinary Shares; and the shares are owned 50 by Mr B and 50 by Mrs B. Mr B decides to waive his rights to the dividend so only Mrs B takes the dividend of £5,000 (50 x £100). As always, paperwork is required to evidence the transactions. But what effect would it have if Company A decided that it could make a dividend

Companies with accounting periods beginning on or after 6 April 2008 should note the following changes to the filing deadlines with Companies House: 1. Private limited companies and Limited Liability Partnerships - the delivery deadline has been reduced by 1 month from 10 to 9 months. 2. Public companies (Plcs) - the delivery deadline has been reduced by 1 month from 7 to 6 months. Consequential changes include: • Full calendar months for filing periods have been introduced. Where the accounting period ends on a month end date the accounts filing period will end