The additional relief given to higher rate tax payers on their pension contributions will be restricted from 6th April 2010 when HM Revenue & Customs change the pension rules once more.

From 6th April 2010, those with income in excess of £150,000 will be entitled to partial relief only, on a tapering basis, so that those with income exceeding £180,000 will no longer be entitled to any additional pension relief at all.

‘Why not pay additional lump sums into your pension prior to this date?’ you may ask. HM Revenue & Customs have unfortunately anticipated this planning opportunity and prevented it in part by the introduction of anti forestalling rules which apply from 22nd April 2010.

If you want to utilise your tax allowances before the end of the tax year on 5th April 2009, you should contact your Principal adviser for advice.

Under the new Companies Act 2006, all LLP’s must now have two designated members. Due to the changes in the Act, Companies House computer systems have been updated to automatically issue a letter to any Limited liability partnership where any information is missing. The letter sent is very vague and non-descriptive and could be interpreted as if they are proposing the removal of the LLP from the register.

If you receive a letter of this nature, please contact our Companies House specialist Charlotte Foston or email charlotte@a4gsolutions.co.uk preferably with the letter attached.

With the hassle of getting your Self Assessment Return disappearing from your minds, for most businesses the next major deadline is to complete the P35 Employers Annual Return for payroll.

This year HM Revenue and Customs expects every company to submit their P35 online with the few exceptions including those providing care or support services in or from your home. There will also be no financial incentive this year.

This means that we require your information earlier this year so that returns can be completed online and not on paper as many of our clients have been used to in the past. 

If you have any queries contact our Payroll Supervisor Nigel Newman by emailing nigel@a4gsolutions.co.uk