http://www.burgesshodgson.co.uk/ Follow the link to read the entire article Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) http://www.burgesshodgson.co.uk/images/logo.jpg http://www.burgesshodgson.co.uk/ The insurance industry is set to start deducting tax from so-called 'trail commissions' charged to investors or their financial advisers after HM Revenue & Customs (HMRC) rules that the payments are taxable. 'Trail commission' refers to payments made by product providers as a part of the incentives they offer individuals to invest in their assets. It was previously common practice for advisers to agree with their clients to take receipt of such payments in return for offering investment advice to them. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=277 2013-05-13 2013-05-13 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) In the majority of cases, charitable appeals and collections are genuine; but charities should be aware of the possibility of fraud and put in place appropriate safeguards to reduce the likelihood of it occurring. Fraudulent collections and appeals can take many forms, but all have the common intent to exploit the generosity of the giving public, and to divert funds from genuine charities and causes. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=276 2013-05-03 2013-05-03 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Burgess Hodgson’s football team is enjoying a treble celebration after winning the Canterbury Charity Cup, the Faversham Charity Cup final and gaining promotion by securing the Canterbury and District League Division 3 title – with five games in hand. The most recent win – 1-0 over the team from the Plough – was a hard-fought victory. “It was arguably our toughest game of the season and a game of few chances,” said captain Ben Houston. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=275 2013-05-03 2013-05-03 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Tax Credit customers are being reminded by HM Revenue & Customs (HMRC) that they must renew claims by 31 July – or their payments might stop. HMRC will start sending Tax Credit renewal packs to about 5.8 million people from this week until the end of June. They are urged to act as soon as they receive a renewal pack. More than 3.7 million claimants renewed by the deadline last year, 90 per cent of those who were required to renew their claim. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=274 2013-04-22 2013-04-22 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Canterbury Rugby Club has been delighted with the support of Burgess Hodgson Partner Ken Jones in recent weeks, with regards to its application for permanent planning consent for the mini rugby training area on the Merton Lane site. At a council meeting on Tuesday 2 April, the Planning Committee of the Council unanimously agreed that the club could retain its valuable orchard training area, which is particularly used by the junior squad. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=273 2013-04-11 2013-04-11 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) The biggest shake up of the Pay As You Earn (PAYE) system in nearly 70 years - Real Time Information - starts from April 6. Employers will be required to move to a new way of reporting PAYE in real time, sometimes called Real Time Information (RTI), where they report to HM Revenue and Customs (HMRC) each time they pay employees, rather than annually. This updates the PAYE system so that it is quicker, easier and more accurate. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=272 2013-04-04 2013-04-04 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Tax cheats who become insolvent to dodge their companies’ tax obligations face up to five years scrutiny from HMRC. Under its new Managing Serious Defaulters (MSD) initiative, HMRC will closely monitor the tax affairs of more individuals and businesses who have deliberately evaded tax for up to five years. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=271 2013-03-27 2013-03-27 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Chancellor George Osborne has vowed to 'light the fires of ambition in our nation' by unveiling a major package of tax cuts and investment for business in his fourth Budget. Mr Osborne said that, despite the progress the government has made, there is work to do. "It's taking longer than anyone hoped." But he stressed: "We will get there. There are difficult economic circumstances to deal with. But we aim to set free the aspirations of this nation.” http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=270 2013-03-21 2013-03-21 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Chancellor George Osborne has vowed to 'light the fires of ambition in our nation' by unveiling a major package of tax cuts and investment for business in his fourth Budget. He also announced a new mortgage guarantee scheme worth £130billion. Despite the message that Britain is 'open for business', Mr Osborne said it was taking longer than expected but "we are, slowly but surely, fixing our country's economic problems". http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=269 2013-03-20 2013-03-20 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Burgess Hodgson has strengthened its Canterbury practice with the appointment of six new associates with immediate effect. The appointments take the firm to 14 partners and nine associates, and is a reflection of Burgess Hodgson's ever-strengthening reputation for accountancy and business advice in the South East. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=267 2013-03-13 2013-03-13 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) The Spring Budget will take place at 12.30 On Wednesday 20th March, and we will be providing our usual coverage including: Our website will have information about the new provisions within hours of the Chancellor's speech, updated during the afternoon and early evening. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=268 2013-03-13 2013-03-13 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) HM Revenue and Customs (HMRC) is reminding people with an income over £60,000 whose family is still receiving Child Benefit to opt out before 28 March if they wish to avoid filling in a tax return and repaying the benefit for the 2013/14 tax year. Latest HMRC figures show that over 370,000 people have opted out of Child Benefit since the High Income Child Benefit Charge was introduced on 7 January. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=266 2013-03-08 2013-03-08 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Names of deliberate tax defaulters have been published on the HM Revenue and Customs (HMRC) website for the first time. This is part of HMRC's approach to combating tax evasion and non-compliance by ensuring everyone pays their fair share, creating a level playing field for honest people and businesses, and cracking down on the minority who seek to evade tax. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=265 2013-02-25 2013-02-25 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Olympic sprint champion Usain Bolt and other overseas athletes will be able to compete tax-free in this year's London Diamond League event at the Olympic Stadium after the Chancellor agreed to a "one-off" exemption. Jamaican Bolt, who won three golds at last year's London Games, had not previously raced in the United Kingdom since 2009 because of tax rules which would have left him out of pocket. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=264 2013-02-13 2013-02-13 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) More than a million better-off families will lose some or all of their child benefit, under rules now in force. From now on, instead of being a universal benefit that all families receive, regardless of income, it has become means-tested. All families can still claim and receive child benefit, but anyone earning more than £50,000 a year will be forced to repay some of it in a tax charge. Anyone earning £60,000 must repay their entire entitlement. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=263 2013-02-08 2013-02-08 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) The Charity Commission, the independent regulator of charities in England and Wales, has published its response to a report from the Institute of Chartered Accountants in England and Wales (ICAEW), which identified key areas where more work needs to be done to help the sector manage financial risk. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=262 2013-01-31 2013-01-31 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) It started with Tupperware, but now includes anything from candles to beauty products, kitchen utensils to clothes: direct selling, either from a catalogue, in-home party or door-to-door is now a big business – and the latest to feel the force of HM Revenue and Customs (HMRC)’s tax crackdown. People selling directly to customers and who haven’t paid all the tax they owe have one month to come forward and pay up under a new HRMC campaign. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=261 2013-01-28 2013-01-28 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) A tax avoidance scheme, designed to abuse rules set up to encourage genuine medical research, has been successfully challenged by HM Revenue and Customs (HMRC) in court. The rejection of the scheme, promoted by Matrix Securities Ltd, has protected almost £80 million. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=260 2013-01-18 2013-01-18 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) As many as 50,000 businesses that have failed to submit VAT returns will be targeted by HM Revenue and Customs (HMRC) this month with warnings that their tax affairs will be closely scrutinised. More than 600,000 businesses have to put in VAT returns each month and most do so on time. But in a new campaign some 50,000 will be warned that, from 28 February, their tax affairs will attract greater attention. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=259 2013-01-10 2013-01-10 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Chancellor George Osborne says the government is “making progress” to fix the British economy but admits it is taking time. Delivering his Autumn Statement, in which he revealed austerity measures would be extended to 2018, as debt-cutting targets are missed, Mr Osborne said: “People know that there are no quick fixes to these problems but they want to know we are making progress. It's taking time, but the British economy is healing.” http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=258 2012-12-05 2012-12-05 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) The rental property sector in the South East is the latest target of HM Revenue & Customs’ (HMRC) tax crackdown. The specialist taskforce teams will focus on landlords in the South East, as well as the rag trade in the Midlands, North Wales and North West, including manufacturing, wholesale, retail and textile recycling; the alcohol industry in Scotland, including Aberdeen and Inverness. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=257 2012-11-28 2012-11-28 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) “Burgess Hodgson have been magnificent.” So says John Bird, former owner of long-standing Kent firm the Abird Group for whom Burgess Hodgson acted in the sale of his (and his family’s) shareholding in the business to HSS, a leading national supplier of tools. Parent company Abird Superior Ltd had been a client of Burgess Hodgson for four years after moving from their previous firm. “We were looking for a more proactive accountants and were recommended to Burgess Hodgson, who had an excellent reputation for providing forward thinking advice.” http://www.burgesshodgson.co.uk/case-study-details.asp?ArticleID=256 2012-11-21 2012-11-21 Case Study Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Burgess Hodgson have been instrumental in the sale of a long-standing Kent business to HSS, a leading national supplier of tools. The firm were the lead advisor to the Abird Group, the UK’s leading diesel electric generator hire company based in Sandwich. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=255 2012-11-15 2012-11-15 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) HM Revenue & Customs (HMRC) will begin targeting businesses across the country later this month as it rolls out a what it says is a "fresh approach" to Business Records Checks (BRC) visits. First on the hit-list will be businesses in London & Anglia, beginning on November 26th. This will be followed by a rolling 14-week period that will see the relaunched BRC programme cover businesses region-by-region, ending up in South Wales and the west of England on February 4th. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=254 2012-11-06 2012-11-06 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Pubs, clubs, casinos and amusement arcades are just some of the businesses that will be hit by the increased tax burden placed on them by the new Machine Games Duty. On 1 February 2013, MGD will replace Amusement Machine Licence Duty (AMLD) on gaming machines, and VAT currently charged on the income from machine game-play. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=253 2012-10-23 2012-10-23 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) The McLaren Formula One team have successfully argued in Britain that a record 32 million pound fine they paid after a 2007 spying controversy should be tax deductible. McLaren were deemed to have contravened article 151c of the FIA's sporting regulations after a dossier of documents relating to the design and workings of Ferrari's car were found in the possession of their then chief designer Mike Coughlan. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=251 2012-10-12 2012-10-12 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) The McLaren Formula One team have successfully argued in Britain that a record 32 million pound fine they paid after a 2007 spying controversy should be tax deductible. McLaren were deemed to have contravened article 151c of the FIA's sporting regulations after a dossier of documents relating to the design and workings of Ferrari's car were found in the possession of their then chief designer Mike Coughlan. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=252 2012-10-12 2012-10-12 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) From today, hairdressers, sandwich shops, athletes and self-storage providers could all be worse off as new VAT rules come into force. But it’s not all bad news: a rise in the earnings of the lowest paid workers has come into effect with a rise in the minimum wage for over 21s. The October 1 changes were announced in Chancellor George Osborne's Budget in March. Sandwich shops, selling hot/cold food for consumption on or off premises are affected by stricter legislation, which widens those products that are subject to the standard rate. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=250 2012-10-01 2012-10-01 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) urgess Hodgson is pleased to announce that its Management Accounts and Bookkeeping department has achieved Sage Accountant Partner Accreditation. This which means it is able to provide clients with detailed assistance and support for their Sage software. Key benefits will be assisting in the installation and setup of Sage, training tailored specifically to clients' business requirements and helping them to get the most out of the software. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=249 2012-09-27 2012-09-27 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) HM Revenue & Customs is stepping up its campaign to tackle tax dodgers with a raft of new taskforces to bring offenders to task.The new taskforces will target the legal profession in London; grocery and retail in South and North Wales, the North West and the South West; restaurants in the South East and Solent; and the motor trade in Scotland. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=248 2012-09-25 2012-09-25 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Thousands of higher rate taxpayers who have failed to submit tax returns will receive letters from HM Revenue & Customs (HMRC) this month, reminding them that they have only one month left to take up a special opportunity being offered by the tax authority. The Tax Return Initiative is aimed at people liable to pay tax at rates of 40 per cent and above and who have been told to submit a Self Assessment tax return for 2009/10 or earlier, but have not done so. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=247 2012-09-04 2012-09-04 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Around half a million people who still haven’t sent their 2010/11 tax returns to HM Revenue & Customs are starting to receive additional penalty letters. The number of outstanding returns has almost halved in 2012, down to 5.9 per cent, compared to 10.7 per cent in 2011. This means 518,000 fewer penalties are being issued. HMRC has also taken 273,000 people out of Self Assessment this year. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=246 2012-08-28 2012-08-28 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) When Usain Bolt crossed the line after setting a world record – and winning a third gold medal – at the London 2012 Olympics, BBC reporter Phil Jones asked him the million dollar question: “Will we see you in Britain again?” With his trademark grin Bolt said it was unlikely “as it costs too much money!” You could be forgiven for thinking a multi-million dollar earner like Usain Bolt wouldn’t think twice about competing in the UK. But Britain’s arcane tax laws make it far less affordable to don his spikes here than in more benign tax regimes overseas. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=245 2012-08-15 2012-08-15 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Burgess Hodgson has proved its mettle with a key role in one of Canterbury’s biggest ever property deals, which last week took up the whole of the front page of the local newspaper, the Kentish Gazette. The practice acted as accountants and tax advisors to the vendors in the £46 million deal that saw the student village in Parham Road snapped up by Dragon’s Den entrepreneur James Caan for Kuwaiti backers Dimah Capital. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=244 2012-07-27 2012-07-27 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) HM Revenue and Customs (HMRC) has launched a host of new taskforces in an attempt to recover over £30 million in unpaid tax. These specialist teams will undertake intensive bursts of activity in specific high risk trade sectors and locations across the UK. The teams will visit traders to examine their records and carry out other investigations. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=243 2012-07-16 2012-07-16 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) HM Revenue & Customs (HMRC) has unveiled the latest campaign to crackdown on tax offenders. In its latest initiative, higher rate taxpayers who have failed to submit tax returns are being offered the opportunity to come forward and pay up in a three-month window. The Tax Return Initiative, launched on 3 July, is aimed specifically at people liable to pay tax at rates of 40% and above who have been told to submit a Self Assessment tax return for 2009/10 or earlier, but have not done so. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=242 2012-07-04 2012-07-04 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Four of the UK’s largest banks face hefty fines after the financial watchdog found them guilty of mis-selling specialist insurance to small and medium-sized businesses (SMEs). Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland have agreed to compensate customers after the Financial Services Authority found “serious failings” in the sale of interest rate hedging products. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=241 2012-07-01 2012-07-01 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Burgess Hodgson is pleased to announce that it will be a sponsor of the University of Kent’s Employability Points Scheme (EPS) for 2012. Developed by the University’s Kent Innovation & Enterprise, EPS is designed to improve the employability of students by involving them in real-life activities outside of their programmes of study. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=240 2012-06-21 2012-06-21 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) More than 2,400 people have registered to disclose unpaid tax under the Liechtenstein Disclosure Facility (LDF) with £363 million already paid in tax bills, HM Revenue and Customs has unveiled. The LDF is now expected to bring in up to £3 billion by 2016 based on the current numbers of disclosures. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=239 2012-06-15 2012-06-15 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) HM Revenue & Customs is upping the ante against tax evaders with a trio of new taskforces targeting market traders, tax firms and property transactions. Taskforces are specialist teams that undertake intensive bursts of activity in specific high-risk trade sectors and locations in the UK http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=238 2012-05-31 2012-05-31 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) When the head of the Student Loans Company was found to have avoided paying thousands of pounds in income tax due to a loophole that meant he was paid through a limited company, it was something of an embarrassment for the government who have criticised these types of arrangements. Ed Lester was forced to pay tax and National Insurance contributions from his pay packet after it emerged that his daily fee went to a private company he owns - rather than to him personally. It meant he was able to pay corporation tax of 21 per cent instead of income tax of up to 50 per cent. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=237 2012-05-23 2012-05-23 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Electricians have just one week to register to pay any undisclosed tax that they owe under an HM Revenue & Customs (HMRC) campaign. The Electricians Tax Safe Plan is a time-limited opportunity where electricians can pay any tax and interest they owe, while benefiting from lower penalties of only 10 per cent, with a maximum of 20 per cent. Normally, penalties of up to 100 per cent of the tax owed can be charged, with possibility of criminal investigation in the worst cases. http://www.burgesshodgson.co.uk/bulletin-details.asp?ArticleID=236 2012-05-08 2012-05-08 Bulletin Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Company cars remain a popular employee benefit. But with the March Budget signaling further increases in taxation, isn’t it about time you considered whether driving a company car is a perk – or a pain? Tom Saltmer, senior accountant at Burgess Hodgson, reveals his top five tax saving ideas for company cars http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=235 2012-05-08 2012-05-08 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Burgess Hodgson has recently expanded its range of services by becoming a partner and certified advisor with online accounting software provider, Xero. In addition to offering support and SaaS solutions (link to SaaS article) for established providers like Sage and QuickBooks, the practice can now offer clients a fresh and intuitive way of keeping their accounting records and interacting with their advisors through Xero. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=234 2012-04-16 2012-04-16 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Burgess Hodgson has announced that it has promoted Robert Field and Martin West from associate to partner with effect from April 1, 2012. The appointments take the Canterbury-based firm to 14 partners and three associates. Both Robert and Martin have strong roots in Canterbury and have demonstrated their commitment to the practice. Their complementary skills are expected to strengthen the firm and help it continue to grow. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=233 2012-04-05 2012-04-05 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Anyone working in the electrical industry with outstanding tax liabilities beware � you could be receiving a letter from HM Revenue and Customs (if you haven�t already done so). Launched earlier this year, the Electrician�s Tax Safe Plan was the latest in a long line of tax offensives against tradespeople, aimed at buffering HMRC�s coffers. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=232 2012-03-28 2012-03-28 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Chancellor George Osborne delivered the 2012 Budget with a clear message: this is a budget to "earn Britain out of trouble". In what was one of the most widely leaked Budgets in recent years, there were still a few surprises. One of the biggest headlines was that the 50p top rate of income tax will be cut to 45p from April 2013. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=231 2012-03-22 2012-03-22 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) It had been talked about as a ‘Robin Hood’ Budget, with pre-event speculation focusing on taxing the rich to fund the poor – and certainly higher earners will feel the brunt of George Osborne’s 2012 Budget. But, in what was one of the most widely leaked Budgets in recent years, there were still a few surprises. One of the biggest headlines was that the 50p top rate of income tax will be cut to 45p from April 2013. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=230 2012-03-21 2012-03-21 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) The Spring Budget will take place at 12.30 On Wednesday 21st, and we will be providing our usual coverage including: • Our website will have information about the new provisions within hours of the Chancellor’s speech, updated during the afternoon and early evening. • Tax partner Mike Horne will be available for consultation, either by telephone on our normal numbers or at our dedicated email address: budget@burgesshodgson.co.uk. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=229 2012-03-19 2012-03-19 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk) Owners of holiday property can now claim inheritance tax for Business Property Relief (BPR), following a court decision. The full value of holiday let assets transferred after an owner's death can be claimed through BPR to avoid inheritance tax. The First-Tier Tax Tribunal has dismissed HMRC’s argument that furnished holiday lets should not be considered a business for IHT purposes. It ruled that “an intelligent businessman would not consider them to be investments”. http://www.burgesshodgson.co.uk/news-details.asp?ArticleID=228 2012-03-09 2012-03-09 News Burgess Hodgson Burgess Hodgson (mailto:info@burgesshodgson.co.uk)