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Dear
Duncan,
Welcome
to our monthly newswire designed to keep you informed of the latest
business and tax issues. Please contact us if you have any
questions.
Inheritance
Tax Change Welcomed
Chancellor Alistair Darling announced in his Pre-Budget speech a change
to the way in which the inheritance tax (IHT) nil rate band of £300,000
can be used for married couples and civil partners.
Click
here for the full story
Capital
Gains Tax Taper Relief To Be Abolished
The Pre-Budget speech also included the shock announcement that taper
relief for capital gains tax (CGT) will be abolished from 6 April 2008.
This announcement took everyone by surprise and it is still unclear in
some circumstances how these rules will be applied. There is also much
speculation that the proposed changes may not be implemented or may be
deferred.
Click
here for the full story
Additional
Maternity And Paternity Pay And Leave
The government had previously announced their intention to extend
Statutory Maternity Pay (SMP), Maternity Allowance and Statutory Adoption
Pay from the current 39 weeks entitlement to 52 weeks.
Click
here for the full story
National
Minimum Wage Prosecutions
HMRC have issued a warning to employers about their programme of targeted
enforcement of national minimum wage (NMW) procedures. The programme,
which is now in its third year, was introduced to work with employers and
workers to address issues and concerns around the NMW.
Click
here for the full story
Company
Car Drivers And Fuel
The Pre-Budget report also contained an announcement which will affect
some company car drivers.
Click
here for the full story
Income
'Shifting'
We have previously reported the case of Mr and Mrs Jones who finally won
their case in the House of Lords in July this year. You may remember that
the profits of Arctic Systems (their company) were paid equally to them
by means of dividends. HMRC had tried to have the income assessed solely
on Mr Jones rather than between them but failed in their attempt.
Click
here for the full story
Postal
Disputes
The postal workers union, the Communication Workers Union (CWU), may be
planning more postal disputes.
Click
here for the full story
Kind
regards,
Brooks
& Jeal
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