March 2008 Newsletter

FOREWORD

WELCOME TO PRIME CHARTERED ACCOUNTANTS (PRIME) MARCH E-NEWS.

It’s a busy month for News so we have slimmed down our eNews this month.

We have sent out our printed Newsletter this week which, amongst other topics, includes:

• Why you should consider outsourcing your payroll
• The new income-shifting rules and what should be considered both before and after 5th April in light of those.

It also includes a separate year end tax planning supplement. If you don’t normally receive this and would like a copy contact Wendy Tipler or download a PDF copy from our website.

On Thursday we will send out a special eNews summary of the Budget, if you have any questions arising out of the Budget, do not hesitate to get in touch with us.

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Company car tax

Various parameters in the tax calculation are being changed by HMRC from the new tax year, affecting some limits that haven’t changed for five years.

Now is a good time, therefore, to re-examine whether company owners should give themselves a company car (and then decide whether to let the company pay for private fuel or not) or buy it privately and charge the company a mileage allowance.

Prime uses a computer model which answers this dilemma for each particular make and model of car. If you want to find out the answer, please email Sarah Nickols in Coventry or Jan Hornby in Solihull for an information gathering checklist.

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And finally - if all else fails, read the instructions!

If you have some type of electrical gadget, from computers to mobile phones, but no instructions, www.instruction-manuals.co.uk is worth a try for free or cheap downloads.

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Disclaimer
This newsletter is published for the information of clients and other recipients of our email newsletters. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this newsletter can be accepted by the firm.