CBA Partnership Business and Tax News

Extra national insurance burden ahead
One of the significant announcements in the Pre-Budget Report earlier this month is a further increase in national insurance contributions (NIC) which is to take effect from 6 April 2011.
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Special Annual Allowance charge – new limits for 2009/10
In the Pre-Budget Report earlier this month changes were announced to the complex rules for the Special Annual Allowance (SAA) charge which affects those with substantial income who make significant pension contributions.
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Bank payroll tax
In a move designed to tackle certain remuneration practices that are considered to have contributed to ‘excessive risk taking’ in the banking industry, a temporary bank payroll tax of 50% is to apply to certain bonuses regardless of how they are paid.
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Offshore disclosure extension
HMRC is giving taxpayers with offshore investments more time to come forward under the New Disclosure Opportunity.
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Changes to the advisory fuel rates from 1 December 2009
To reflect the increase in fuel prices, HMRC have issued new advisory fuel rates for employees driving employer provided cars.
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HMRC warn of more scam emails
As the end of the year fast approaches HMRC are reminding taxpayers to be vigilant as scam emails have been reported.
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Tax relief on nursery vouchers
Gordon Brown had revised his proposal to withdraw the income tax and NI exemption on employer provided childcare vouchers.
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Cross-border VAT changes 2010
HMRC issued some important guidance regarding the changes in the place of supply of services rules which take effect from 1 January 2010.
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