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You can access a copy of TNT from our resource downloads page (just click the link alongside). If you want to make sure that you receive future email updates from us, please get in touch with Victoria Doyle by emailing v.doyle@sagars.co.uk
The Chancellor will deliver his Pre-Budget Report on Wednesday 9 December 2009. As usual, we will be producing a briefing document to let you know the key facts and help you to assess what impact the Chancellor's announcements may have on your position. Make sure that you don't miss out on receiving our information and sign up now by sending an email v.doyle@sagars.co.uk
Hot on the heels of our most recent award win comes the news that we have managed to repeat our Accountancy Age Awards success from last year by making the 2009 shortlists in both the Tax Team of the Year and Best Medium Firm categories. Our competitors for the tax award include BDO, KPMG and Ernst & Young so we're in good company. The winners will be announced at a ceremony in London on 18 November and we're hoping that, in this instance, bigger isn't always better.

We are delighted to share the news that we have been successful in winning one of ACQ Finance Magazine's Country Awards for Achievement 2009. The corporate finance publication has named us Regional Tax Adviser of the Year - UK, in recognition of the tax technical advice that we have supplied to our clients in relation to a variety of deals and transactions over the past year.

For a number of years it has not been possible to make any amendments to previous VAT amounts declared for periods more than three years ago. These are generally known as the three year "capping" rules.
On 1 April 2009 this position changed. The new time limit will be four years, and this change runs retrospectively from 1 April 2006. In effect this means that for any time up to 31 March 2010, the time limit cut off will be 1 April 2006. After 1 April next year, the four year rolling capping arrangements will be fully in place and neither Output nor Input tax will be payable to or claimable from H M Revenue & Customs for a period more than four years prior to the time of the claim.
This was always going to be a Budget we’d rather put off– with the economic turmoil of the last year, expensive bailouts, deflation, rising unemployment, huge debts, a looming election and a feeling that the day of reckoning must come. In the end most of the personal tax changes were fairly narrowly targeted (only 1% are likely to reach the new 50% income tax band) and again deferred for a year or two. There is some help for businesses with loss relief and investment in fixed assets, a number of schemes to help young people into work and get house sales moving, further tightening up of the administration of tax and plans for cuts in public spending later.
Much of the initial comment from business sources echoes Mr Darling’s own comments about ‘the most serious economic turmoil for 60 years’, ‘no quick fixes’ and further shrinking in the economy this year, but many people believe he is still too optimistic about when the good times will return.
Yorkshire Forward and Business Link are currrently offering grant funding towards Financial Healthchecks carried out by accredited accountants (such as Sagars). To find out if your business might qualify and if you could benefit from a Sagars Financial Healthcheck, contact Partner, Clive Smetham on c.smetham@sagars.co.uk or 0113 297 6700.
Sagars are amongst three shortlisted finalists for the coveted title of Best General Tax Practice in this year's national LexisNexis Taxation Awards. Winners in 2007 and finalists in 2008, we've got our fingers crossed for 21 May 2009, when the winners will be announced at a ceremony at Park Lane in London.