Updated mileage rates apply to all journeys on or after 1 June 2010. Click on title for the new rates and for more information. For more detailed information go to:

http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm

The Low Incomes Tax Reform Group has published an article entitled "Childcare Vouchers - Still a trap for many".  Please read this article before deciding whether childcare vouchers will be beneficial to you.

With effect from 6 April 2010 there are a number of changes that may affect both employers and employees in connection with payroll matters.  Click on title for more information.

From 1 January 2010 businesses that supply services to customers in other EU Member States, where the customer is required to account for VAT using the reverse charge mechanism, will have to include them on an EC Sales List (‘ECSL’).

Prior to that date, ECSL entries are confined to Intra-Community supplies of goods.

This is just one of the changes to be implemented between 1 January 2010 and 1 January 2015 as a result of the agreement reached between EU Finance Ministers in December 2007 and adopted in February 2008. The overall objective is ‘modernisation and simplification’.

The pay rates for the National Minimum Wage (NMW) are to increase from 1 October 2010.  Click on title for the changes announced this week.

These rates apply to all journeys on or after 1 December 2009. After discussions with trade bodies, the month's notice previously given has been withdrawn for this change.

 

 

 

Employers are not obliged to reimburse their employees for business fuel at these rates as long as they do not exceed them overall. Employers making or collecting payments at the superseded rate because they have not been able to change their systems in time may use their judgement on whether to make or require a second payment in respect of the same period in order to apply the new rate from its effective date.

However, employers should note that under the normal rules, employees are only able to avoid the car fuel benefit charge if the amount they repay in respect of private fuel at least equals the amounts based on the rates as published.