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Important news headlines for business accounting

End of Cheque Guarantee Card
Payments made on or after 1 July 2011 will not be guaranteed, even if the purchaser produces a Cheque Guarantee Card.

Charity and Inheritance Tax
If you leave 10% or more of your estate to charity the Government will reduce the inheritance tax rate by 10%..

IR35 to Stay
The government is not proposing to change the existing legislation, which was put in place to eliminate tax avoidance through "disguised employment".

Small Companies
The rules for associated companies have been relaxed but there are still some important points to note.

Revenue Trial Single Compliance
HMRC will begin six month trials of "Single Compliance" checks covering income tax or corporation tax and PAYE and VAT records and returns of a business.