All change
Change is something of a recurring theme in this edition of our newsletter.
April 2006 will see the arrival of the long awaited pensions ‘A’ day. The introduction of the new Construction Industry Scheme (CIS) was also planned for April 2006 but has been deferred to April 2007. Why? Certainly one of the reasons, albeit largely unreported, was the pressure brought to bear on the government by the construction industry. The current scheme will now continue until April 2007 but the Revenue have made it clear that they will be stepping up their compliance activity in the industry in the run up to April 2007 and will no doubt continue their zero tolerance policy regarding the renewal of gross payment certificates. Don’t be lulled into a false sense of security by the delay; there will certainly be no light touch from April 2007. Please get in touch if you want to discuss any aspect of the CIS - new or old!
Continuing the theme of change we report on the effect of a new European Directive on savings which is relevant if you receive interest from an overseas savings account. We also bring you a summary of the important changes announced in the recent Pre-Budget Report which take effect later this year.
And in the summer you can look forward to a complete shake up in the way Royal Mail charges for post. Not all charges will increase but the size of letters and parcels will become very important. You may need to consider simple but significant changes in the way you send out post - see our article for further details.
We would welcome a call or email if you have any questions on anything we have covered in this newsletter.