<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3c.org/TR/1999/REC-html401-19991224/loose.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"><head><title>/July LiveWire</title> <meta http-equiv="Content-Type" content="text/html; charset=unicode"> <style type="text/css"> <!-- body { margin-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; } --> </style> <meta content="MSHTML 6.00.6000.17063" name="GENERATOR"></head> <body> <div align="center"> <table width="550" border="0"> <tbody> <tr> <td valign="top" bordercolor="#0" height="859"> <table height="76" width="550" border="0"> <tbody> <tr> <td width="9" height="30">&nbsp;</td> <td width="211"><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp; </span></td> <td width="189" rowspan="2"> <div align="right"><span style="FONT-SIZE: 12px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none"></span>&nbsp;</div> <div align="right"><span style="FONT-SIZE: 12px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none"></span>&nbsp;</div> <div align="right"><span style="FONT-SIZE: 12px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none"></span>&nbsp;</div> <div align="right"><span style="FONT-SIZE: 12px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none"></span>&nbsp;</div> <div align="center"><span style="FONT-SIZE: 12px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none"><a style="COLOR: #213b72; TEXT-DECORATION: none" href="http://www.rjp.co.uk" target=_blank>www.rjp.co.uk</a><br>Tel: 0870 22 55 220</span></div></td> <td width="116" height="10"> <div align="right"> <div align="right">&nbsp;</div></div></td> <td width="3">&nbsp;</td></tr> <tr> <td height="26">&nbsp;</td> <td valign="top" height="30" v> <p><span style="FONT-SIZE: 11px; COLOR: #000000; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><span style="FONT-SIZE: 11px; COLOR: #000000; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><img height=28 alt=LIVEWIRE src="http://www.rjpbackup.plus.com/livewire_logo.jpg" width=180> </span></strong></span></span></strong></span></p> <p><span style="FONT-SIZE: 11px; COLOR: #000000; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><span style="FONT-SIZE: 11px; COLOR: #000000; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"></span></strong></span></span></strong></span><span style="FONT-SIZE: 11px; COLOR: #000000; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><span style="FONT-SIZE: 11px; COLOR: #000000; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong>The monthly newsletter from <br>Robert James Partnership</strong></span></span> </strong></span></p></td> <td width="116"> <div align="right"><span style="FONT-SIZE: 12px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none"> <div align="right"><img height="70" alt="Robert James Partnership - Graphic" src="http://www.rjpbackup.plus.com/livewire_bannerbeans.jpg" width=176></div></span></div></td> <td width="3">&nbsp;</td></tr></tbody></table> <table cellspacing="0" cellpadding="0" width="550" border="0"> <tbody> <tr> <td width="14" height="1"></td> <td width="530" bgcolor="#213b72"></td> <td width="6"></td></tr></tbody></table> <table height="780" cellspacing="0" cellpadding="0" width="550" border="0"> <tbody> <tr> <td height="12"></td></tr> <tr> <td width="14" height="768">&nbsp;</td> <td valign="top" width="205"> <table style="WIDTH: 205px; HEIGHT: 402px" cellspacing="0" cellPadding=7 width=205 bgColor=#ffffff border=0> <tbody> <tr> <td style="BORDER-RIGHT: #264099 thin solid; BORDER-TOP: #264099 thin solid; BORDER-LEFT: #264099 thin solid; BORDER-BOTTOM: #264099 thin solid; BACKGROUND-COLOR: #ffffff" vAlign=top height=402><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><font size=4> <p align="left"><img height="33" alt="Robert James Partnership Logo" src="http://www.rjpbackup.plus.com/rjp_logo.jpg" width=75></p></font></span> <p align="center"><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><font size=4><strong>LiveWire -&nbsp;July 2010</strong></font> </span><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"></span></p><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"> <p align="center">The Coalition is wasting no time over introducing the changes required to restore fiscal efficiency and we review these and welcome the arrival of the Office of Tax Simplification.&nbsp;</p> <p align="center">After some analysis into the way Entrepreneurs' Relief will function&nbsp;following the change to CGT, we identify it isn't as generous as might have been promised.&nbsp; Why is this and what do business owners need to consider when negotiating an exit deal?</p> <p align="center">You might not be able to pay your staff summer bonuses, but there are a wide range of perks they could have which are very tax efficient - for all parties.&nbsp; And finally, our VAT department reviews some of the aggressive penalties being introduced by HMRC under the reasonable care regime.</p> <p align="center">Don't forget, we are on Twitter - follow @taxtalkrjp for our latest blogs and comment throughout the month.</p> <p align="center"><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">As always we would love to hear from you if you have any topics you would like to see featured in LiveWire.</span></p> <p><span style="FONT-SIZE: 12px; COLOR: #000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">Please contact Lesley Stalker, Simon Paterson or Paul Webb on 0870 2255220 for more information.</p> </span></td></tr></tbody></table><span style="FONT-SIZE: 16px; COLOR: #213b72; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong><br>Find out more about RJP at <a style="FONT-SIZE: 16px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none" href="http://www.rjp.co.uk">www.rjp.co.uk</a></strong></span> </td> <td width="13">&nbsp;</td> <td valign="top" width="318"> <table height="103" cellspacing="0" cellpadding="0" width="318" border="0"> <tbody> <tr> <td valign="top" width="43" height="35"><img height="23" alt="Graphic" src="http://www.rjpbackup.plus.com/bean_1.jpg" width=30></td> <td valign="top" width="275"> <p><span style="FONT-SIZE: 14px; COLOR: #5659a6; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong>Danger, Danger; High Voltage Penalties</strong></span></p></td></tr> <tr> <td colspan="2" height="58"> <p><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">Our VAT Department has seen evidence of the issue of some very aggressive penalties under the new reasonable care regime by Customs in respect of a number of areas. </span></p> <p><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">Clearly HM Customs view the imposition of penalties under this new regime as an effective way to get more spend in the Treasury pot.&nbsp; </span><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">To</span><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"> find out more click&nbsp;</span><a style="FONT-SIZE: 12px; COLOR: #213b72; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none" href="http://www.rjp.co.uk/livewire/live280710_2.htm" target=_blank>here...</a></p></td></tr> <tr> <td height="13"></td></tr></tbody></table> <table height="104" cellspacing="0" cellpadding="0" width="318" border="0"> <tbody> <tr> <td valign="top" width="43" height="35"><img height="24" alt="Graphic" src="http://www.rjpbackup.plus.com/bean_2.jpg" width=30></td> <td valign="top" width="275"><span style="FONT-SIZE: 14px; COLOR: #f27982; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong>Winners and Losers in the Recent Budget</strong></span></td></tr> <tr> <td colspan="2"> <p><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><br>At first glance the Budget appeared to be good for business owners but less generous for the individual taxpayer.&nbsp;</span></p> <p><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">Further analysis however has shown this is perhaps not as generous as an initial glance might initially suggest. To find out more </span><a style="FONT-SIZE: 12px; COLOR: #213b72; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none" href="http://www.rjp.co.uk/livewire/live280710_1.htm" target=_blank>click here...</a></p></td></tr> <tr> <td height="13"></td></tr></tbody></table> <table height="69" cellspacing="0" cellpadding="0" width="318" border="0"> <tbody> <tr> <td valign="top" width="43" height="35"><img height="24" alt="Graphic" src="http://www.rjpbackup.plus.com/bean_3.jpg" width=30></td> <td valign="top" width="275"><span style="FONT-SIZE: 14px; COLOR: #59b554; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong>Tax Efficient Employee Benefits</strong></span></td></tr> <tr> <td bordercolor="#00ff00" colspan="2"> <p><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">Many tax breaks are swiftly disappearing, as the Government s reforms begin to take shape.</span></p> <p><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">But there are still some excellent opportunities to offer employees valuable perks and benefits, which, depending on the way they are taken, are also financially beneficial to your business. For all the details </span><a style="FONT-SIZE: 12px; COLOR: #213b72; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none" href="http://www.rjp.co.uk/livewire/live280710_3.htm" target=_blank>click here ...</a></p></td></tr> <tr> <td height="13"></td></tr></tbody></table> <table height="69" cellspacing="0" cellpadding="0" width="318" border="0"> <tbody> <tr> <td valign="top" width="43" height="35"><img height="24" alt="Graphic" src="http://www.rjpbackup.plus.com/bean_4.jpg" width=30></td> <td valign="top" width="275"><span style="FONT-SIZE: 14px; COLOR: #f48343; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong>&nbsp;HMRC Round Up</strong></span></td></tr> <tr> <td colspan="2"> <p><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">From the end of a concession that allowed a grace period for late&nbsp;filing to the new Office of Tax Simplification.</span></p> <p><span style="FONT-SIZE: 12px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">Our HMRC round up covers the main announcements this month.&nbsp;&nbsp;&nbsp;Click here to </span><a style="FONT-SIZE: 12px; COLOR: #213b72; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none" href="http://www.rjp.co.uk/livewire/live280710_4.htm" target=_blank>read more...</a></p></td></tr> <tr> <td height="13"></td></tr></tbody></table> <table height="34" cellspacing="0" cellpadding="0" width="308" border="0"> <tbody> <tr> <td style="BORDER-RIGHT: #f8991d thin solid; BORDER-TOP: #f8991d thin solid; BORDER-LEFT: #f8991d thin solid; BORDER-BOTTOM: #f8991d thin solid; BACKGROUND-COLOR: #ffe7cc"><img height=30 src="http://www.rjpbackup.plus.com/media_header_wide.jpg" width=308></td></tr></tbody></table> <table height="98" cellspacing="0" cellpadding="7" width="312" border="0"> <tbody> <tr> <td style="BORDER-RIGHT: #f8991d thin solid; BORDER-TOP: #f8991d thin solid; BORDER-LEFT: #f8991d thin solid; BORDER-BOTTOM: #f8991d thin solid; BACKGROUND-COLOR: #ffe7cc" vAlign=top width=302 height=97> <p><strong><a style="FONT-SIZE: 11px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none" href="http://www.thisismoney.co.uk/news/article.html?in_article_id=506734&amp;in_page_id=2" target=_blank><strong>Website Article -&nbsp;Lesley Stalker Explains the Furnished Holiday Lettings Rules&nbsp;-&nbsp;This is Money&nbsp;(June 2010)</strong></a></strong></p> <p><strong><a style="FONT-SIZE: 11px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none" href="http://www.rjp.co.uk/budget_july2010.pdf" target=_blank><strong>Magazine&nbsp;Article -&nbsp;Paul&nbsp;Webb Joins a Panel of Experts to Discuss the Budget&nbsp;-&nbsp;Accountancy&nbsp;(July 2010)</strong></a></strong></p> <p><strong><a style="FONT-SIZE: 11px; COLOR: #213b72; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-DECORATION: none" href="http://www.dailymail.co.uk/money/article-1291717/Revenue-cuts-corners-bid-net-cheats.html" target=_blank><strong>Newspaper Article - Anne Eager comments &nbsp;on HMRC Tactics&nbsp;&nbsp;-&nbsp;Mail on Sunday&nbsp;(July 2010)</strong></a></strong></p> </td></tr></tbody></table> <table height="90" cellspacing="0" cellpadding="0" width="318" border="0"> <tbody> <tr> <td width="260" colspan="2"><span style="FONT-SIZE: 13px; COLOR: #213b72; LINE-HEIGHT: 16px; FONT-FAMILY: Arial, Helvetica, sans-serif"><strong><br>If you have any feedback or suggestions for articles you would&nbsp;like to see please email us at <a href="mailto:post@rjp.co.uk?subject=Livewire">post@rjp.co.uk</a></strong></span></td></tr> <tr> <td width="58" height=13></td></tr></tbody></table></td></tr></tbody></table> <table cellspacing="0" cellpadding="0" width="550" border="0"> <tbody> <tr> <td style="PADDING-RIGHT: 0px; PADDING-LEFT: 15px; PADDING-BOTTOM: 25px; PADDING-TOP: 15px"> <p style="FONT-SIZE: 10px; COLOR: #000000; LINE-HEIGHT: 14px; FONT-FAMILY: Arial, Helvetica, sans-serif">Robert James Partnership is a trading name of RJP LLP - Chartered Certified Accountants &amp; Chartered Tax Advisers<br>2 AC Court, High Street, Thames Ditton, Surrey KT7 0SR<br>Registered in England &amp; Wales, Registered No:OC323740<br>Tel: + 44 (0870) 2255220 Fax: +44 (0870) 2255221 Web: www.rjp.co.uk</p></td></tr></tbody></table></td></tr></tbody></table> </div></body></html>