I'm really sorry, I can't access my own website at present - thanks geeks! - so publishing here so the info is out.
ITEM
Government Abell Morliss Comment
Corporation Tax Rate to remain at 21% up to £300,000 profits
28% over that in current 10/11 year In 11/12 both rates drop by 1%. Good news if you make profits.
Rates planned to converge so by end of parliament we will have a single rate?
Income Tax Rates Lower Bands stay same:-
20% is the basic band for 10/11 up to £37,400, then 40% on excess
Plus 50% if you go over £150,000
NB. Savings income up to £2,440 (09/10 2,440) taxed at 10% still
But changes for 11/12 NB. Don’t forget that the effective max. rate of tax is already 40% plus 1% NIC making 41%. In 2010/11 Darlings last Budget introduced a 50% (+1%) on income above £150,000.
Also a sly reduction in personal allowance for incomes over £100,000
Personal Allowances Rate from 6.4.10
is un–changed at £6,475 In 11/12 it will go up to £7,475 (allegedly)
Notional Insurance No changes - 11% for serfs up to £44,000 salary, then only 1% everything above
12.8% paid by the rulers And in 11/12 it is 12% for the oppressed. Rulers will go up to 13.8% same date, despite previously announced as NOT going up !
But still NIC is not abolished !
It is crazy not to incorporate this into our standard tax systems. Government spouts about reducing red tape, and this would massively help business admin at the stroke of a pen, and we could re-deploy a bunch of pen-pushers
Capital Gains Tax Rate remains at 18% for standard rate tax-payers.
New immediate rate of 28% for those paying higher rate income tax
10% for selling business assets. And the lifetime limit for flogging business assets, up even higher from £1m. to £5m. This will cane 2nd home traders as the Gain will form part of the liability to higher rate calcs. E.g. Gain of £150k, and caramba! you are a Higher Rate person.
Our other views on CGT are controversial here, so no comment
Annual exempt amount un-changed at £10,100 This is another personal allowance if you can make the gains
VAT Up from 17.5% to 20% on 4th January 2011 Why delay from 1.8.10?
No change in the various exemptions
Inheritance Tax No new ‘initiatives’
Threshold un-changed at £325,000 But remember this is now available jointly with your partner so really the limit is now £650k.ish.
And HMRC alleges only 16,000 estates paid IHT in 2009 !
Capital Allowances £100,000 annual investment allowance for just 10/11
R&D allowance remains at 175% This is ‘French’ for 100% 1st year allowance on 1st £100k of Capital Investment, and is a fig leaf towards helping manufacturing, but really it needs to be £1m pa to be meaningful.
Instead of which the first dopey decision by our new government has been taken to REDUCE this to £25,000 from April 2012. So make sure your plant is purchased by 31.3.12
WDA remains at 20% But from 1/4/12 it is reduced to 18%
Vans Company Vans Still the best tax-free business perk going, thanks to Gordon’s changes a while back. Especially if you buy a double-cab pickup with CD multi-changer, climate control and leather seats - Dohh!
Insurance Premium Tax Lower rate 5%
Higher rate 17.5% From 4th January 2011 L=6% H=20%
TIP pay your insurances premiums in December 2010 !!
FUEL Fuel still going up 1p litre every few months to avoid us all getting a head of steam over being fleeced to the cleaners
BOOZE No changes except Cider Cider tax increase reversed on 30th June 2010 – buying votes in zoiderland?
FAGS No changes Ditto
Stamp Duty No new proposals
0% on up to £250,000 house sales.
1% £125k. up to £250,000
3% to £500,000
4% Beckhams You have to be a 1st time buyer to get up to £250k. at 0% - how will they check? Apparently the restriction applies even if you previously owned a mudhut in Eritrea!
Landfill Up another £8 tonne from April 2011 to £48 The minimum rate from April 2014 is set at £80 tonne
A massive increase that skimmed under most peoples’ radars
Council Tax Allegedly no increases for anyone in 11/12
ISA The annual allowance is up to £10,200 (£7,200) …but it’s pointless saving with interest rates soooo low.
Civil Service Continued headcount reductions in next few years We are paying a fortune for semi-employed civil servants with little to do, so the axe is being wielded – or so Government says. Quite how it is to be done is most intriguing…will need a good statistician to ‘prove it’.
And 15,000 of the 45,000 overheads in London are being binned to the provinces to:-
a] save money on expensive London office property costs
b] get the horrors out of London
c] save money by them not getting their cushy London c.o.l. allowances
d] ‘exporting’ unemployment from Bootle/Newcastle to London
Enterprise The usual warm words
Pensions Higher-rate relief on contributions abolished for 2010/11+ What about withdrawing Corporation Tax relief on Goodwinesque contributions by employers ?– that’s who we should be clobbering big time.
PSBR The mountain for 2010/11 is guessed at £150 billion And for loads more years to come, and then when we’ve finished borrowing this ridiculous money, we have to start slooooowly paying it back.
Showing posts with label VAT. Show all posts
Showing posts with label VAT. Show all posts
Thursday, 29 July 2010
Budget June 2010 b
The following notes should be read in context of the last Spring Budget presented by Alistair Darling. The current year tax changes are actually very few indeed. It is mainly in-year spending reductions he is trying for as a way of nailing his colours to the mast early on.
Also bear in mind we have TWO more budgets before 11/12 tax year starts so it’s anyone’s’ guess really what the rates will be when reality happens.
EXECUTIVE SUMMARY OF CHANGES THIS TAX YEAR
Item When?
• VAT up to 20% 4/1/11
• IPT up 1%/2½% 4/1/11
• CGT 28% rate for higher rate tax-payers 22/6/10
• Bank Levy 0.04% of balance sheet if you are over £20bn 1/1/11
• Cider Duty increase cancelled “from 30.6.10”
• Landline Duty abolished before it started
• And there were some current year spending reductions announced a few days ago
Also bear in mind we have TWO more budgets before 11/12 tax year starts so it’s anyone’s’ guess really what the rates will be when reality happens.
EXECUTIVE SUMMARY OF CHANGES THIS TAX YEAR
Item When?
• VAT up to 20% 4/1/11
• IPT up 1%/2½% 4/1/11
• CGT 28% rate for higher rate tax-payers 22/6/10
• Bank Levy 0.04% of balance sheet if you are over £20bn 1/1/11
• Cider Duty increase cancelled “from 30.6.10”
• Landline Duty abolished before it started
• And there were some current year spending reductions announced a few days ago
Tuesday, 20 April 2010
VAT onslime regn
Vat onslime regn
This is almost impossible however there is a way……………..
1. you need a copy of the VAT certificate showing EFFECTIVE DATE of regn.
2. regd. number of the company
3. address that APPEARS on VAT returns
4. a copy of the last VAT return showing BOX 5 amount
5. oh, and your Vat number
Needless to say u only have to get one of the 5 secrets wrong, and regn fails….grrrr!
and you might need to do all this twaddle as well if not already online with HMRCy……
5. go to government gateway, and register the business as an organization
6. save the screen with the user id
7. annotate on it the password which is always to be abellmorliss
8. use the secrets answers on attached sheet
9. wait for the toot from HMRC to arrive
10. then login again on govt portcullis and authorise aml as agent per attached sheet
Our letter to our clientele runs.....
The government in their infinite wisdom, want us all to join the online community for all statutory communications. This now includes VAT returns. In future this has to be done online unless you are a business with sales less than £100k pa. The deadline for registering is ………..NOW
Sadly the collateral damage is that the ‘customers’ (taxpayers) have to jump through a million teeedious hoops to register for filing VAT.
We as your loyal/trusty/servile advisors will do all the grunt for you, but we need you to sign here………………../email us your consent to a (modest) fee of £200 for doing the extra work for you. You evade this by doing it yourself - you may suffer from Alopecia before completing this successfully.
We warn you in advance that our usual friendly advice service does not include helping you with this unless you agree the fee first – if you do it, we will only charge £195 for the telephone support – and we promise not to laugh at the sound of your screaming at the other end of the phone as you register.
Yours ever obediently
Obadiah Scriggens & Co.
This is almost impossible however there is a way……………..
1. you need a copy of the VAT certificate showing EFFECTIVE DATE of regn.
2. regd. number of the company
3. address that APPEARS on VAT returns
4. a copy of the last VAT return showing BOX 5 amount
5. oh, and your Vat number
Needless to say u only have to get one of the 5 secrets wrong, and regn fails….grrrr!
and you might need to do all this twaddle as well if not already online with HMRCy……
5. go to government gateway, and register the business as an organization
6. save the screen with the user id
7. annotate on it the password which is always to be abellmorliss
8. use the secrets answers on attached sheet
9. wait for the toot from HMRC to arrive
10. then login again on govt portcullis and authorise aml as agent per attached sheet
Our letter to our clientele runs.....
The government in their infinite wisdom, want us all to join the online community for all statutory communications. This now includes VAT returns. In future this has to be done online unless you are a business with sales less than £100k pa. The deadline for registering is ………..NOW
Sadly the collateral damage is that the ‘customers’ (taxpayers) have to jump through a million teeedious hoops to register for filing VAT.
We as your loyal/trusty/servile advisors will do all the grunt for you, but we need you to sign here………………../email us your consent to a (modest) fee of £200 for doing the extra work for you. You evade this by doing it yourself - you may suffer from Alopecia before completing this successfully.
We warn you in advance that our usual friendly advice service does not include helping you with this unless you agree the fee first – if you do it, we will only charge £195 for the telephone support – and we promise not to laugh at the sound of your screaming at the other end of the phone as you register.
Yours ever obediently
Obadiah Scriggens & Co.
Thursday, 25 March 2010
ranting...
The Taxpayers Charter
...it's soooo grate.
Extract from letter sent to Chief Sec to Treasury.
Did i get a reply? guess
You are quoted as endorsing the vacuous Charter recently launched concerning tax-payers. I find it difficult to believe that you have actually read this document, and your endorsement gives the document a veneer of respectability it so really does not deserve.
I set out below the beginnings of a meaningful charter with some hard points in it that would challenge those running HMRC to be genuinely concerned about taxpayers basic rights. This was submitted to the tax website where you are quoted as endorsing the charter ( http://www.taxationweb.co.uk/tax-news/hmrc/hmrc-launch-new-charter.html ).
There is sooooooo little here it is a lie to call it a “Charter”. And the header “what businesses dealing with HMRC can expect from the department” is a laugh. What planet do these suits inhabit? I was hoping for something along the lines of……
HMRC believes in treating taxpayers fairly. In order to achieve this we will:-
1. ensure all tax offices are open between 08.30-18.00 m-f
2. direct access to local vat offices will be restored so that taxpayers can talk to someone about specifics on their business rather than inaccurate chat
3. outside these times national contact centres for each main discipline will take enquiries, and be able to access tax payers records
4. all correspondence received will be at least acknowledged with a specific case officer reference within 14 days of receipt, this will include VAT registrations.
5. no incoming mail will be ignored
6. an email communication system will be installed by xx 2010 for tax payers to communicate with us.
7. The 64-8 form will be re-designed into ‘english’, and allow tax payers to indicate simply which methods of communication and tax areas agents will be authorised for. HMRC will cease the practice of throwing away every other 64-8.
8. All tax departments will publish on the central website an index of telephone numbers, which will include a ‘real’ telephone number so that mobile phone users can call them without it costing a fortune on 0845/0800 numbers. This will include all government departments so that tax payers ACTUALLY get a choice as to whether they ring the landline number or the 0845 number.
9. This will also contain a fax number for each office.
10. All fax machines will be kept operating, the practice of turning them off or having no paper in to fob off taxpayers will cease. When a tax payer rings up and says “your fax machine is not working three times” we will no longer ignore the taxpayer or tell him to “just keep trying”, we will investigate the problem and rectify it without delay.
11. all staff required to have telephone contact with taxpayers will have a good conversational command of English, and be able to express themselves clearly on the telephone, and will have a basic knowledge of UK geography.
12. The pernicious loan shark rates of interest masquerading as “penalties” charged on late vat payments are to be abolished as soon as the regulations can be laid. In future all late payments of tax will attract a uniform late rate of 6% above BOE Base Rate.
13. all telephone systems will no longer refuse calls when busy. The queuing systems will ensure that calls are dealt with on arrival basis not at random. Our target for picking up a call and talking to you is “within 30 secs”. The performance of every tax office against this standard will be published in a national league tenable. If Euston Corporation Tax Office and Sefton Employers PAYE ever get off joint bottom of this table then we will know that real progress is being made.
14. If any caller wishes to make a complaint, our staff will no longer wriggle and squirm to avoid allowing the complaint. They will, without argument, put the person through to a complaints team WHO WILL ACTUALLY BE KEEN TO RESOLVE THE COMPLAINT and (take over the phone) full details and make sure the query is dealt with professionally. Our complaints helpsheet will in future also contain a central complaints contact address/telephone/fax number so that we no longer make it as hard as possible to submit complaints.
15. Our online systems will no longer be “up-graded” across key filing dates e.g. 31st January.
16. our website indexing will be enhanced by faqs that answer REAL questions rather than just puffing out propaganda. If the answer to an faq is ‘no’ then we will tell the truth in future instead of weasling around.
17. We want tax-payers to file everything electronically with us. We are allocating online filing credentials to all tax-payers, and will send these to you. For example so that no one will ever have to fight the onslime VAT system again just to file a vat return. In future all filings will be eeeeasy to do.
In return we expect taxpayers to treat our staff with respect, and deal with them honestly.
I may have a missed a few points?
...it's soooo grate.
Extract from letter sent to Chief Sec to Treasury.
Did i get a reply? guess
You are quoted as endorsing the vacuous Charter recently launched concerning tax-payers. I find it difficult to believe that you have actually read this document, and your endorsement gives the document a veneer of respectability it so really does not deserve.
I set out below the beginnings of a meaningful charter with some hard points in it that would challenge those running HMRC to be genuinely concerned about taxpayers basic rights. This was submitted to the tax website where you are quoted as endorsing the charter ( http://www.taxationweb.co.uk/tax-news/hmrc/hmrc-launch-new-charter.html ).
There is sooooooo little here it is a lie to call it a “Charter”. And the header “what businesses dealing with HMRC can expect from the department” is a laugh. What planet do these suits inhabit? I was hoping for something along the lines of……
HMRC believes in treating taxpayers fairly. In order to achieve this we will:-
1. ensure all tax offices are open between 08.30-18.00 m-f
2. direct access to local vat offices will be restored so that taxpayers can talk to someone about specifics on their business rather than inaccurate chat
3. outside these times national contact centres for each main discipline will take enquiries, and be able to access tax payers records
4. all correspondence received will be at least acknowledged with a specific case officer reference within 14 days of receipt, this will include VAT registrations.
5. no incoming mail will be ignored
6. an email communication system will be installed by xx 2010 for tax payers to communicate with us.
7. The 64-8 form will be re-designed into ‘english’, and allow tax payers to indicate simply which methods of communication and tax areas agents will be authorised for. HMRC will cease the practice of throwing away every other 64-8.
8. All tax departments will publish on the central website an index of telephone numbers, which will include a ‘real’ telephone number so that mobile phone users can call them without it costing a fortune on 0845/0800 numbers. This will include all government departments so that tax payers ACTUALLY get a choice as to whether they ring the landline number or the 0845 number.
9. This will also contain a fax number for each office.
10. All fax machines will be kept operating, the practice of turning them off or having no paper in to fob off taxpayers will cease. When a tax payer rings up and says “your fax machine is not working three times” we will no longer ignore the taxpayer or tell him to “just keep trying”, we will investigate the problem and rectify it without delay.
11. all staff required to have telephone contact with taxpayers will have a good conversational command of English, and be able to express themselves clearly on the telephone, and will have a basic knowledge of UK geography.
12. The pernicious loan shark rates of interest masquerading as “penalties” charged on late vat payments are to be abolished as soon as the regulations can be laid. In future all late payments of tax will attract a uniform late rate of 6% above BOE Base Rate.
13. all telephone systems will no longer refuse calls when busy. The queuing systems will ensure that calls are dealt with on arrival basis not at random. Our target for picking up a call and talking to you is “within 30 secs”. The performance of every tax office against this standard will be published in a national league tenable. If Euston Corporation Tax Office and Sefton Employers PAYE ever get off joint bottom of this table then we will know that real progress is being made.
14. If any caller wishes to make a complaint, our staff will no longer wriggle and squirm to avoid allowing the complaint. They will, without argument, put the person through to a complaints team WHO WILL ACTUALLY BE KEEN TO RESOLVE THE COMPLAINT and (take over the phone) full details and make sure the query is dealt with professionally. Our complaints helpsheet will in future also contain a central complaints contact address/telephone/fax number so that we no longer make it as hard as possible to submit complaints.
15. Our online systems will no longer be “up-graded” across key filing dates e.g. 31st January.
16. our website indexing will be enhanced by faqs that answer REAL questions rather than just puffing out propaganda. If the answer to an faq is ‘no’ then we will tell the truth in future instead of weasling around.
17. We want tax-payers to file everything electronically with us. We are allocating online filing credentials to all tax-payers, and will send these to you. For example so that no one will ever have to fight the onslime VAT system again just to file a vat return. In future all filings will be eeeeasy to do.
In return we expect taxpayers to treat our staff with respect, and deal with them honestly.
I may have a missed a few points?
VAT onslime regn
Vat onslime regn
This is almost impossible however there is a way……………..
1. you need a copy of the VAT certificate
2. regd. number of the company
3. address that APPEARS on VAT returns
4. a copy of the last VAT return as they want the Box 5 figure
Needless to say u only have to get one of the 5 secrets wrong, and regn fails….grrrr!
and you might need to do all this twaddle as well if not already online with HMRCy……
5. go to government gateway, and register the business as an organization
6. save the screen with the user id
7. annotate on it the password which is always to be ploka3018
8. use the secrets answers on attached sheet
9. wait for the toot from HMRC to arrive
10. then login again on govt portcullis and authorise aml as agent per attached sheet
This is almost impossible however there is a way……………..
1. you need a copy of the VAT certificate
2. regd. number of the company
3. address that APPEARS on VAT returns
4. a copy of the last VAT return as they want the Box 5 figure
Needless to say u only have to get one of the 5 secrets wrong, and regn fails….grrrr!
and you might need to do all this twaddle as well if not already online with HMRCy……
5. go to government gateway, and register the business as an organization
6. save the screen with the user id
7. annotate on it the password which is always to be ploka3018
8. use the secrets answers on attached sheet
9. wait for the toot from HMRC to arrive
10. then login again on govt portcullis and authorise aml as agent per attached sheet
Subscribe to:
Posts (Atom)