Tax Matters November 2009
Welcome
Welcome to our autumn edition of Tax Matters, Littlejohn's newsletter for clients and contacts that helps you stay on top of tax-related legislation and deadlines.
A recent survey found that only a third of UK private business owners think the current tax system supports enterprise. The main issue seems to be the sheer number of changes and the uncertainty they cause. We hope our advice helps you steer your way through the latest batch of new rules. This issue we have an update on tax on foreign profits - with particular notes for small companies - as well as on the new responsibilities for senior accounting and financial officers in larger companies. We also report on the new online cross-border VAT refund system.
On the personal tax front, Dave Hartnett - HMRC's Permanent Secretary for Tax - has been spotted on You Tube reminding offshore investors about disclosure deadlines. Our strong advice is that disclosure now will save you the potential of stiff fines later. We also review the revised HMRC guidelines on residence - beware: the goal posts have shifted.
If you need advice on any aspect of your tax affairs, or would like to discuss any of the issues raised in this newsletter, please don't hesitate to contact us.
Andrew Jones
Head of Tax Division
In this issue
Personal tax
Business tax
- New rules for largest companies
- Online business tax returns mandatory
- Carry back extension reminder
- New foreign profits rules for small companies
- How not to give the taxman a Christmas bonus
VAT
