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Budget Day will be 22 April 2009
Newsletter issue - March 09.
Normally March is the month in which the Chancellor of Exchequer presents his Budget, during which he announces the tax rates and thresholds for the coming tax year. However, this year, for various political reasons, the Budget speech has been delayed until 22 April 2009.
This delay should not affect the running of the tax system, as all the tax rates, thresholds and allowances for 2009/10 were announced in the Pre-Budget report on 26 November 2008. The PAYE codes for 2009/10 including the new personal allowance of £6,475 have already been issued, and the new PAYE and NIC tables are available from HMRC. Details of other Pre-Budget report announcements that affect employers are given in the Employer Bulletin no. 31, which was recently sent to all employers.
One announcement that was not made in November was the threshold for compulsory VAT registration. This increased from £64,000 to £67,000 on 1 April 2008, so the threshold could be frozen at that level in 2009. The UK has one of the highest thresholds for compulsory VAT registration in the EU, so freezing this threshold would not put the UK out of line with other countries. A freeze on the VAT threshold would also bring in more tax, as more businesses would have to become VAT registered.
Look out for our Budget News email sent out the day after the budget!
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services
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