Business News Archive
SMEs get £70 million funding boost - April 2013
Small and medium-sized businesses (SMEs) are set to receive a £70 million lending boost as part of government action to increase the availability of finance.
HMRC plans home visits service - April 2013
A home visit from the taxman could become a reality for some taxpayers under a new service to be piloted by HM Revenue & Customs (HMRC).
Employment tribunal rules to change - April 2013
New rules designed to streamline the employment tribunal process are set to come into force this summer.
Auto-enrolment set to become more ‘user-friendly’ - April 2013
Proposals to improve the automatic enrolment process have been published by the Department for Work and Pensions.
Going online makes VAT easy, says HMRC - April 2013
Tax chiefs are urging new businesses that need to register for VAT to do it online.
Tax relief set to help bosses manage sickness absence - April 2013
Businesses are to benefit from tax relief when they pay to help their employees return to work after sickness.
Employers urged to tighten up on personal device use - April 2013
Employers are being urged to be less relaxed about employers who use a personal laptop, tablet computer or smartphone for work and could be placing people’s personal information at risk.
The Budget 2013 - March 2013
Read our summary of George Osborne's budget.
New era begins on residency rules - March 2013
A new statutory residence test that comes into effect on 6 April 2013 will have significant implications for people considering moving to or from the UK.
HMRC steps up RTI drive - March 2013
Every employer in the UK has started receiving a letter telling them what they need to do to get ready for the introduction in April of Real Time Information (RTI) payroll reporting.
Defaulters ‘named and shamed’ - March 2013
The names of deliberate tax defaulters have been published on HM Revenue & Customs’ (HMRC) website for the first time.
Spotlight shines on parental leave - March 2013
Employers are being asked for their views on a new system for shared parental leave and pay.
Taxpayers warned on rebate scams - March 2013
Tax chiefs have issued a renewed call to taxpayers not to fall victim to email scams as new figures revealed that almost 80,000 tax rebate phishing emails were reported to HM Revenue & Customs (HMRC) in 2012.
Businesses benefit from £1bn loans boost - March 2013
New research has shown that a government scheme designed to help thousands of smaller businesses has helped them access over £1 billion in loans in less than three years.
Employers get guidance on workplace first aid - March 2013
The Health and Safety Executive (HSE) has published new draft guidance to help employers get to grips with proposed changes to workplace first aid.
Helpline cuts down on tribunals - March 2013
Independent research has found that a free helpline has averted around 14,000 employment tribunals a year.
Businesses face VAT crackdown - February 2013
Up to 50,000 businesses that have failed to submit VAT returns have been warned that their tax affairs could soon come under close scrutiny.
Green Deal gives green light to energy saving - February 2013
More than ten per cent of businesses are already planning to take advantage of a new scheme encouraging investment in energy-saving measures, according to research.
New measures set to reduce employment tribunals - February 2013
Employment Relations Minister Jo Swinson has announced plans to reduce the number of workplace disputes reaching an employment tribunal.
Get it right on reference numbers, HMRC says - February 2013
HM Revenue & Customs (HMRC) has announced that it is contacting some customers if they have sent a payment without a reference number or with an incorrect one.
Extra help for young entrepreneurs - February 2013
Thousands more young entrepreneurs are now eligible for government loans to help turn their business ideas into reality.
New service to offer sickness absence support - February 2013
British businesses are to be helped to tackle long-term sickness absence affecting their staff through a new, independent service aimed at getting people back to work.
Client Focus: Stephen Booker, Malt Shovel - January 2013
With over 20 years’ experience in the licence trade, Stephen Booker has been a director of the Malt Shovel at Menston for over 10 years.
Business Records Checks resume - January 2013
Watson Buckle is advising business owners that HM Revenue and Customs (HMRC) has now relaunched its Business Records Checks (BRC) programme.
Exit Strategies for Legal Firms - January 2013
One of the hottest issues facing the legal profession is succession planning. Partners are having to face up to the changing ways that they can exit from the firm without losing strong leadership, key clients and talented young lawyers, as well as avoiding unfunded retirements or the break up of the firm.
Avoid last minute RTI rush, employers told - January 2013
Tax chiefs have issued a new year call to employers, urging them to ensure they are ready for major PAYE changes that come into effect in three months’ time.
Taxpayers celebrate Christmas… by filing online - January 2013
More than 1,500 people took a break from turkey and tinsel on Christmas Day to file their tax returns online, according to new figures from HM Revenue & Customs (HMRC).
New statutory payment rates issued - January 2013
The Department for Work and Pensions has announced new statutory payment rates for 2013-14, which are due to take effect from April 2013.
Consultation time cut in redundancy rules changes - January 2013
The government has announced changes to the rules on larger scale redundancies that will cut by half the consultation period required.
Tax avoidance scheme closed down - January 2013
The government has again underlined its focus on tackling tax avoidance by closing down a scheme being marketed as a way for companies to artificially reduce corporation tax bills.
Motivating staff ‘key challenge in 2013’ - January 2013
Employment relations service Acas has highlighted motivating and engaging employees as key challenges for employers in 2013.
Client Focus: J Barrett & Sons (Bingley) Ltd - December 2012
J Barrett & Sons (Bingley) Ltd has provided plumbing and heating services in West Yorkshire since 1971.
Watson Buckle inherited the accounts of J Barrett & Sons when its previous accountant retired, and has taken care of everything to do with the company’s accounts and tax returns since then.
New Management Accounts service - December 2012
Watson Buckle are pleased to offer a new Management Accounts service.
The new service is led by expert management accountant Allyson Crutchley, who has recently joined the firm.
‘Real time’ PAYE rules eased for some employers - December 2012
HM Revenue & Customs (HMRC) is to give some employers extra time to submit PAYE data in real time.
Businesses urged to bid for skill boosting cash - December 2012
Businesses across the country are being urged to bid for a share of a £150 million pot to create the training schemes they need to grow their companies.
Most auto-enrolled workers ‘will stay in’ - December 2012
New government figures suggest most people will stay in pension schemes under the new automatic enrolment initiative.
Trade mission highlights Russian opportunities - December 2012
British firms are being urged to explore new trade opportunities with the UK’s fastest growing major export market.
Red tape costs to be cut faster - December 2012
The costs of red tape on business will be slashed at twice the present rate from January 2013, the government says.
Flexible leave ‘good news for employers’ - December 2012
The government has announced reforms that will allow parents to share up to a year's leave after the birth of a child and described them as “good news” for employers.
New VAT certificates ‘may be on way’ - December 2012
HM Revenue & Customs (HMRC) has warned businesses registered for VAT that they may receive a new certificate they are not expecting.
The Autumn Statement 2012 - December 2012
Read our summary...
Families urged ‘be on guard’ for child benefit tax - November 2012
Hundreds of thousands of families are due to receive letters from HM Revenue & Customs (HMRC) in the coming weeks, spelling out how their child benefit could be cut.
Tax relief cap plan ‘anti-business’, say experts - November 2012
Business people on modest incomes are under threat from the government’s proposed cap on income tax relief, tax specialists have warned.
New site replaces Business Link - November 2012
The government’s business information website has been replaced by a new site, designed to make it quicker and easier for internet users to interact with the government online.
Service set to give exporters a Headstart - November 2012
A new service will provide practical support for UK businesses to export to high growth markets in South East Asia.
Fast track option set to cut IP dispute costs - November 2012
A new small claims track has been introduced to the Patents County Court designed to speed up the court process and make it cheaper and easier, particularly for small and medium sized businesses, to protect intellectual property (IP) rights.
Government targets ‘tax gap’ - November 2012
The government has reinforced its commitment to closing the “tax gap” as new figures revealed it had shrunk on last year’s figures.
Act now on RTI, warns HMRC chief - November 2012
HM Revenue & Customs (HMRC) has been writing to more than 1.4 million employers to its launch Real Time Information (RTI) awareness campaign.
SMEs face surge in compliance inquiries - November 2012
Compliance investigations into small and medium sized enterprises (SMEs) by HM Revenue & Customs jumped 39 per cent in the last year, according to new research.
Client Focus: Steve Horne, Reedmoor Distribution Company Limited - October 2012
Keighley-based Reedmoor Distribution Company Limited, which sells a full range of mass market books for all age ranges to supermarkets, continually strives to deliver a professional service targeted to each individual’s needs and long-term relationships with clients, suppliers and partners.
HMRC offers tax help by email - October 2012
Small and medium-sized firms are being invited by HM Revenue and Customs (HMRC) to sign up to receive regular emails giving help and support.
Tax crackdown targets lawyers and hairdressers - October 2012
Legal professionals, solicitors and hairdressers are among the latest groups to be targeted in a new tax crackdown by HM Revenue & Customs (HMRC).
Funding boost for new entrepreneurs - October 2012
The first cash from the government £82.5 million Start-Up Loans scheme is now being distributed to young entrepreneurs, with the aim of helping to launch up to 30,000 new companies.
VAT changes come into force - October 2012
Changes to VAT arrangements, originally announced in the March 2012 Budget, take effect from 1 October.
Company car advisory fuel rates updated - October 2012
HM Revenue & Customs has amended the advisory fuel rates for company cars with effect from 1 September 2012.
Moves to streamline employment law launched - October 2012
New measures designed to give firms more flexibility in managing their workforce and to cut employment red tape, have been announced.
Automatic Enrolment gives new pension security to thousands - October 2012
More than half a million people will be saving in a workplace pension for the first time by Christmas, according to new government figures.
Customer survey reveals mixed economic outlook - September 2012
A survey of small businesses by Bradford-based chartered accountants Watson Buckle has revealed a mixed outlook for the UK economy.
Taxpayers count £1,200 cost of failing to file returns - September 2012
Around half a million people who have not yet submitted 2010/11 tax returns to HM Revenue & Customs (HMRC) are now receiving additional penalty letters.
1 in 3 businesses not aware of RTI, research finds - September 2012
One-third of small businesses are not aware of Real Time Information (RTI) and how it will affect their PAYE systems, according to new research.
Contractors ‘could cut SME tax bills by £2bn’ - September 2012
Businesses could slash their tax bills by up to £2 billion by using self-employed contractors, according to professional advice website unbiased.co.uk.
Keep HMRC informed, warns business group - September 2012
An organisation representing small businesses has warned entrepreneurs to fully update HM Revenue & Customs (HMRC) about any changes to their operations, following a report that one firm is facing a £10,000 fine for not telling HMRC it had changed its name.
Retailers hit by £205m e-crime bill - September 2012
A pioneering study of e-crime has revealed that e-crime cost UK retailers at least £205.4 million in 2011-2012.
Firms ‘at risk on insurance cover’ - September 2012
New research has shown that more than a third of UK small or medium enterprises (SMEs) could be putting their business at risk by failing to insure their key staff.
New CIS guidance issued - September 2012
HM Revenue & Customs (HMRC) has issued updated guidance for subcontractors operating as limited companies on reclaiming any deductions taken from their payments under the Construction Industry Scheme.
New crackdown planned on ‘aggressive’ tax avoidance - Au
gust 2012
Exchequer Secretary to the Treasury David Gauke has announced government proposals to crack down on the promoters of aggressive tax avoidance schemes.
Inward investments boosts UK jobs - August 2012
Strong inward investment in the UK created or secured more than 112,000 jobs in 2011/12, a rise of 19 per cent on the preceding year, according to new figures.
Payroll professionals lead way on RTI - August 2012
The payroll professionals’ industry body has showcased the new system for reporting employee’s pay and tax details that will affect all businesses next year.
Campaign offers chance to settle tax bills - August 2012
Tax chiefs have launched a new initiative targeting taxpayers who have failed to complete tax returns in the past.
New guidance explores redundancy and maternity leave - August 2012
Acas and the Equality Human Rights Commission have published a new guide to help employers understand the rights of women who are pregnant or on maternity leave when facing redundancy.
Tax experts call for more work on GAAR - August 2012
Tax specialists have welcomed the launch of a government consultation on a general anti-abuse rule (GAAR) but said that work was still needed on the proposals.
Health and safety offenders face new costs - August 2012
Businesses that breach health and safety laws could find themselves facing substantial bills from 1 October.
Specialist VAT Services - July 2012
VAT is a key tax, but the regime is so complicated that many businesses unintentionally overpay or underpay.
The Watson Buckle Cost Reduction Service: saving you time and money - July 2012
At Watson Buckle, we appreciate that looking for ways to reduce your overheads can be a time-consuming and costly process.
‘Good compliance’ the priority on cookies law, says regulator - July 2012
Businesses and other organisations operating websites have been told that regulators want “good compliance, not rushed compliance” with a law requiring them to gain visitors’ consent before logging information about them.
New fund offers helping hand to young entrepreneurs - July 2012
Young entrepreneurs are set to benefit from an £80 million-plus fund designed to help up to 30,000 businesses get off the ground.
UK to get world-class creative tax breaks - July 2012
The UK’s creative industries are set to benefit from tax reliefs that are among the most generous in the world, according to the government.
Rules on large redundancies set for shake-up - July 2012
Proposals that could cut the length of time employers have to consult with their employees on large scale redundancies by up to a third have been published by the government.
HMRC targets taxi firms and restaurants in new crackdowns - July 2012
New taskforces have been launched by HM Revenue & Customs (HMRC) in a bid to recover more than £23 million in unpaid tax.
Anti-abuse tax rules set to include IHT - July 2012
Inheritance tax (IHT) is set to be included in new anti-abuse rules designed to tackle tax avoidance schemes.
Markets great place to start a business, says Apprentice star - July 2012
More than 1,000 people are taking a step towards a new career by booking a start-up market pitch as part of a UK-wide Love Your Local Market campaign.
Client Focus: Gerard Stocks, Palm Cove Society - June 2012
Compatibility is a factor that shouldn’t be underestimated in any relationship, especially the one between a not-for-profit organisation and its accountancy firm.
Save time and money with our Cost Reduction Service - June 2012
Looking for ways to reduce your overheads can be a time consuming process, especially when you are busy running a business. Furthermore, when you are focusing your resources on developing your organisation, it makes sense not to spend more money than you need to.
Loans service ‘not what struggling businesses need’ - June 2012
A new business lending service from online loans specialist Wonga is not what struggling enterprises need, according to business recovery experts.
UK firms must prepare for eurozone crisis, say accountants - June 2012
A leading accountancy organisation has warned that the majority of UK businesses have no contingency plans in place in response to the economic turmoil in the eurozone.
HSE highlights high cost of equipment testing myth - June 2012
The Health and Safety Executive (HSE) has launched new guidance on safety testing of electrical appliances, saying that unnecessary checks are costing office-based businesses an estimated £30 million a year.
Bosses set for end of third party harassment rule - June 2012
The government is asking employers for their view on plans to scrap legislation that makes bosses liable for harassment of their employees by customers or clients.
HMRC steps up tax help for bereaved - June 2012
A new service has been launched to help people who need to sort out tax issues following bereavement.
New IR35 guidance comes under fire - June 2012
New HM Revenue & Customs (HMRC) guidance to clarify the risk of contractors being caught by the IR35 intermediaries legislation has been attacked as a missed opportunity.
Justice reforms good for business, says minister - June 2012
Justice Minister Jonathan Djanogly has highlighted how the government is helping businesses to “get on with the job” by reforming the justice system.
Client Focus: Michael Burrowes, Horton Print - May 2012
Serendipity can sometimes play a part in choosing the right accountant. Indeed, Michael Burrowes, the managing director of Horton Print, chose to work with Ian Gill as he had known him since they were kids and played sport together.
Helping you manage your trust efficiently and cost-effectively - May 2012
At Watson Buckle, we appreciate how important it is to choose the correct people to manage your trust on a daily basis.
Why every business should have a non-executive director - May 2012
Good financial management alone, whilst important, may not be the whole solution for growth and improving business performance. Some SME organisations would benefit from seeking the advice of other specialists, such as those in marketing or HR for example. For others, there is clear evidence that enhancing board performance by taking on a non-executive director (NED) might well provide a solution.
Forced retirement appeal fails - May 2012
A Supreme Court ruling in a key direct age discrimination case is a reminder to employers that a worker’s age should not be “shorthand” on which to base their ability to do their job, says the Equality and Human Rights Commission (EHRC).
First-time employers get online help - May 2012
A new online toolkit has been launched to give first-time employers a step-by-step guide to their obligations when taking on a member of staff.
Panel targets ‘daft’ health and safety decisions - May 2012
Office workers being banned from putting up Christmas decorations and trapeze artists being told to wear hard hats are among a top ten of myths published as part of the launch of a new service to help curb the worst examples of health and safety misuse.
E-traders urged to set tax records straight - May 2012
People trading on the internet who haven’t paid all the tax they owe are being invited to come forward and pay up under a new HM Revenue & Customs (HMRC) campaign.
£40m boost for hi-tech businesses - May 2012
UK hi-tech small and medium-sized enterprises with high growth potential are set to benefit from at least £40 million of investment from a new Enterprise Capital Fund.
Mental ill health ‘costs 91m lost work days’ - May 2012
Employment relations specialist Acas has launched a new guide to tackle what it describes as the last taboo in business - mental illness at work.
Businesses urged to step up IT security - May 2012
A new survey says that IT security breaches are costing the UK economy billions of pounds a year.
Apps aid record-keeping on the go - May 2012
HM Revenue & Customs (HMRC) has highlighted the availability of mobile apps that can help small businesses with record keeping on the go.
Client Focus: Victoria Robertshaw, Keelham Farm Shop - April 2012
“Our shop is a showcase for local Yorkshire produce,” says Victoria Robertshaw, who co-owns Keelham Farm Shop – named as one the best 50 in the UK by the Independent newspaper and amongst the top three in Yorkshire – with her brother James.
R&D tax credit consultation launched - April 2012
The government has launched a consultation on the new above the line (ATL) research and development (R&D) tax credit for larger companies, to help shape the way it should work when it is introduced in April 2013.
HSE delays move to reclaim costs - April 2012
The Health and Safety Executive (HSE) has delayed the introduction of a scheme under which it would recover its costs from businesses that break health and safety laws.
Auto-enrolment threshold to be aligned with tax - April 2012
The government has announced that automatic pension enrolment rates are to be aligned with tax and national insurance thresholds, to streamline administration for businesses.
Be prepared for Diamond Jubilee, employers told - April 2012
Employers are being urged to plan ahead for the Queen's Diamond Jubilee holiday in June.
Self-employed plumber jailed for tax evasion - April 2012
A man has been jailed for 12 months for evading £91,000 of income tax and national insurance during ten years of trading as a self-employed plumber.
Stamp price rises to soar - April 2012
Royal Mail has announced steep rises in the prices of stamps from 30 April 2012.
Watson Buckle expertise helps Dutch firm’s UK success - March 2012
Watson Buckle has played a major part in a £6 million investment into the UK by a major international client.
The Budget 2012 - March 2012
Read our summary of the March Budget 2012.
Client Focus: Kate Storey, Leeds Trinity University College - March 2012
Leeds Trinity University College prides itself on the community feeling that comes from having around 3,000 students, one-fifth of the student population of the average UK university.
New taskforces planned to target tax cheats - March 2012
HM Revenue & Customs (HMRC) is to launch 30 new taskforces to crack down on tax dodgers in 2012-13.
‘Avoid early release pension offers’ warning - March 2012
Consumers have been urged to steer clear of offers that claim to be able to provide loans or release tax-free cash from people’s pension pots before they reach the age of 55.
Penalties on way for late tax returns - March 2012
Almost one million taxpayers will receive a penalty for filing their tax return late, but the figure has fallen substantially on last year.
£1bn boost for business growth - March 2012
An extra £1 billion has been set aside by the government to help businesses to grow and create new jobs.
New lenders join SME loan scheme - March 2012
Four new lenders have been accredited to offer loans to small businesses under the Enterprise Finance Guarantee (EFG) scheme, the government has announced.
IHT relief on businesses ‘safe’ - March 2012
Family business owners have been reassured that the government has no plans to remove a valuable inheritance tax relief.
HMRC to rethink business record checks - March 2012
HM Revenue & Customs (HMRC) has announced a fresh approach to its business records checks (BRC) programme in 2012, following a review of a pilot for the scheme.
Red tape cuts ‘saving businesses £4m’ - March 2012
A new government report says that British businesses will benefit from around £4 million in cuts in regulation between January and June 2012.
Client Focus: Sheila Fry, University of Bradford - February 2012
Sheila Fry is research grant manager at the University of Bradford Finance Department. As a forward-thinking, modern and student-orientated establishment, the University is committed to a future that continues to build on its foundations of academic excellence, providing all students with a world-class teaching and learning environment.
End of year tax planning - February 2012
In these tough times, it makes more sense than ever to keep as much of your money as possible in your own pocket.
So with the end of the 2011-12 tax year in April fast approaching, we’ve produced an end of year tax planning guide that highlights some useful opportunities for reducing your tax bill…before it’s too late.
Updated auto-enrolment timetable issued - February 2012
The government has published a revised timetable for when employers must start enrolling their staff in a workplace pension under the auto-enrolment initiative.
Company law in red tape spotlight - February 2012
Companies are being asked for their views on how to tackle unnecessary bureaucracy in company and commercial law in the latest phase of the government’s Red Tape Challenge to scrap unnecessary regulations.
PM backs small businesses in new campaign - February 2012
Empty and under-used government offices may become home to start-up and growing small businesses, under plans forming part of a new initiative announced by Prime Minister David Cameron.
‘Online only’ VAT returns weeks away - February 2012
HMRC has issued a reminder to VAT-registered businesses that all VAT returns must be submitted online from April.
SME manufacturers offered new support - February 2012
A new national programme has been launched to help small and medium manufacturing businesses to grow.
New tax dispute scheme put to test - February 2012
A pilot scheme has been launched for a new way to resolve disputes between SMEs and HM Revenue & Customs (HMRC).
Move set to boost co-ops - February 2012
New legislation will be introduced by 2015 that will help to make it as easy to set up a co-operative as any other form of business, the Prime Minister has announced.
Mediation pilot aims to resolve workplace disputes - February 2012
A new government pilot scheme could pave the way to earlier and more cost-effective resolution of workplace disputes.
Taxman to review record checks project - January 2012
HM Revenue & Customs (HMRC) is to carry out a review of its Business Record Checks project, designed to tackle poor record-keeping by small and medium-sized enterprises.
Employment tribunal fees plan unveiled - January 2012
The government has outlined its plans for charging fees to take cases to employment tribunals, designed to cut a multi-million pound bill for the taxpayer and ease pressure on businesses.
‘Excessive’ payment surcharges to be outlawed - January 2012
Businesses will be banned from levying “excessively high” surcharges on all forms of payment before the end of this year, under government plans.
Website owners ‘need to get to work’ on cookies law - January 2012
Website owners must try harder to comply with the new cookies law, according to the Information Commissioner’s Office (ICO).
Acas chief warns of social media challenge - January 2012
Social media is likely to be one of the biggest workplace issues in 2012, the head of employment relations service Acas has warned.
Time running out for tobacco displays - January 2012
Time is ticking away for the first retailers to be affected by a ban on tobacco displays to ensure their premises are compliant with the law.
E-trader jailed over VAT fraud - January 2012
An online trader has been jailed for attempting to evade more than £420,000 of VAT, ahead of the launch of an HM Revenue & Customs (HMRC) campaign targeting people who use e-marketplaces to buy and sell goods and who fail to pay tax owed.
Christmas Office Opening Hours - December 2011
Our offices will close for the festive period on 23 December 2011 at 12.30pm and will
re-open 3 January 2012 at 9.00am. We are also closed from 12.00pm on Friday 16 December for our office Christmas party.
We would like to take this opportunity to wish everybody a Merry Christmas and a Happy New Year!
The Autumn Statement - November 2011
A summary of the autumn statement 2011.
Watson Buckle agrees ratings partnership with Eddisons - December 2011
Watson Buckle has agreed an innovative ratings partnership with one of the country’s biggest chartered surveyors Eddisons.
Employment law set for major reform - December 2011
Business Secretary Vince Cable has set out plans for major reform of employment law.
Self-employed set to benefit in health and safety shake-up - December 2011
Government plans have been announced for a major reduction in health and safety rules, with the first changes taking effect from January.
‘Real time’ pilot on way for PAYE - December 2011
A major change to the way that employers submit information on tax and national insurance for their employees is to begin next year with a pilot programme.
£95m boost for small businesses - December 2011
Small and medium sized businesses in England are set to benefit from £95 million in government investment.
New taskforces to target tax cheats - December 2011
HM Revenue & Customs (HMRC) has launched five new taskforces around the country to tackle tax evasion in sectors including fast food, property rentals and scrap metal dealing.
Employers offered help on training - December 2011
A £250 million plan will be launched in the new year, designed to give businesses the power to design, develop and purchase vocational training.
Business asset freezing plan under fire - December 2011
Insolvency experts have warned that a proposed new European Commission measure to freeze the assets of British businesses could deal a serious blow to work to rescue firms in financial difficulties.
New service set to cut costs of IP court cases - December 2011
A new small claims service is to be introduced at the Patents County Court (PCC), helping small and medium-sized businesses to protect their copyright, trade marks and designs.
R v Steed opens up “hornets nest” regarding tax evasion and confiscation orders - November 2011
A worrying legal precedent set in February has opened the door for those who fail to notify HMRC to face more serious sanctions under the Proceeds of Crime Act 2002.
‘Millions’ may drop out of auto-enrolment, survey finds - November 2011
Pensions experts have warned that around three million people may drop out of a government scheme designed to encourage more workers to save for their older age.
A N Other fine mess on PAYE paperwork - November 2011
Employers are being urged to make sure their PAYE paperwork is correct after hundreds of returns incorrectly claimed to employ A N Other in 2009/10.
Use your data protection knowledge, businesses told - November 2011
Businesses are becoming more aware of their obligations under the Data Protection Act (DPA), according to new figures from the Information Commissioner’s Office (ICO).
SMEs slipping up on credit checks - November 2011
Almost three-quarters of small and medium-sized UK businesses are failing to check on their customers’ credit worthiness, according to new research.
Cost of business rate appeals backlog soars - November 2011
Delays in dealing with business rate appeals are costing businesses £300 million per year, according to new research.
Patent documents go online – and free - November 2011
Innovative UK businesses are set to benefit from a free system to access information on patents launched by the Intellectual Property Office (IPO).
Business asset freezing plan under fire - November 2011
Insolvency experts have warned that a proposed new European Commission measure to freeze the assets of British businesses could deal a serious blow to work to rescue firms in financial difficulties.
Watson Buckle agrees ratings partnership with Eddisons - October 2011
Watson Buckle has agreed an innovative ratings partnership with one of the country’s biggest chartered surveyors Eddisons.
HMRC criticised over tax amnesties - October 2011
HMRC has hit back at suggestions that tax amnesties, such as the deals reached recently with Switzerland and Luxembourg, could help criminals gain respectability.
Calls made for simpler SME financial reporting - October 2011
The Financial Reporting Council and the Department for Business, Innovation and Skills (BIS) have published a joint missive calling for annual accounts for the smallest businesses to be simplified in order to cut red-tape for micro-entities.
Three-fold increase in tax scam emails - October 2011
HM Revenue and Customs say the number of scam “phishing” emails has increased by more than 300% over the past year.
New Agency Worker Regulation (AWR) comes into affect - October 2011
The Government has introduced new Agency Worker Regulation (AWR) changing the way businesses introduce new staff on a short term basis.
Cable attacks banks over lending - October 2011
The Business Secretary Vince Cable has once again attacked banks over a lack of lending to SMEs.
2,250 tax inspectors in super rich crackdown - October 2011
A crack team of more 2,000 tax inspectors is to be set up by HM Revenue and Customs to target tax avoidance and evasion.
Small businesses fail to check credit scores - October 2011
A survey of nearly 700 small businesses has found that more than 71 per cent did not check their customers’ credit status.
Banks to offer riot loans - October 2011
A major bank is set to offer interest and fee-free loans to businesses hit by the summer riots.
SMEs access to equity finance eased - September 2011
Small businesses are set to be able to access equity finance more cheaply and effectively with early changes to European regulatory measures.
Capital allowances loophole closed - September 2011
The government has bought forward the closure of a loophole that allowed businesses to accelerate capital allowances claims for plant and machinery and obtain advantageous early tax relief.
New guidance issued on distance selling - September 2011
The Office of Fair Trading (OFT) has launched a new online resource to help businesses comply with the law when selling goods and services at a distance, such as website or mail order sales.
Retailers warned over online security - September 2011
Businesses have been urged to do more to protect customers’ data after hackers were able to access the payment details of thousands of customers of cosmetics and toiletries retailer Lush.
Rule change on agency workers’ rights looms - September 2011
New rules affecting employers who take on agency and temporary workers will take effect from 1 October 2011.
NHS worker on sick leave for a year entitled to holiday pay - September 2011
The Employment Appeal Tribunal (EAT) has found in favour of an NHS employee, ruling that she was entitled to payment in lieu of holidays she had been unable to take while on sick pay for a year.
Research highlights cookie law non-compliance - September 2011
New research has highlighted the potential scale of organisations and businesses failing to comply with EU directives on downloading cookies.
Making the most of your family business - August 2011
While working with your family in business can have valuable benefits, the close relationships can also bring some unique challenges.
Taxpayers hit by HMRC hold-up - August 2011
Around 500,000 people who complete self assessment tax returns will have to wait longer than normal to find out how much tax they have to pay, HM Revenue & Customs (HMRC) has announced.
Businesses asked for views on tax and NI merger - August 2011
The government is asking businesses for their views on integrating the income tax and national insurance contributions (NIC) systems.
Tax specialists issue PAYE warning - August 2011
Tax experts say there could be “grave consequences” unless problems with the PAYE system are resolved before the introduction of a new system.
Retail rules to be relaxed in Red Tape Challenge victory - August 2011
Retailers’ lives are set to be made easier after the government said more than 160 regulations would be simplified or scrapped in the first changes to be introduced through its Red Tape Challenge.
UK leads on foreign investment - August 2011
A new report has shown that the UK is the top destination for foreign direct investment in Europe and the third worldwide.
Businesses offered advice on reducing risk abroad - August 2011
A new service has been launched to help UK companies learn about the security and business risks in 90 markets when working abroad.
Information chief ‘disappointed’ at data protection checks take-up - August 2011
Businesses should be more willing to undergo data protection audits, says the Information Commissioner.
Conciliation service helps to head off more tribunals - August 2011
If you are a director of your own company and pay for your own life cover, you could find getting your company to pay could save you a lot of money.
Students urged to save on summer job tax - August 2011
Students are being reminded that they may not have to pay any tax on the money they make from summer jobs.
End of National Insurance cards comes step closer - July 2011
HM Revenue & Customs (HMRC) has introduced the latest stage of its move to phase out National Insurance cards.
Businesses get extra help on competition law - July 2011
The Office of Fair Trading (OFT) has launched new guidance to help businesses comply with competition law.
Europe set to streamline patent rules - July 2011
UK businesses are set to save millions of pounds a year as a single European patent came a step closer following agreements by ministers at a meeting of the Competitiveness Council in Luxembourg.
New challenge on red tape - July 2011
Businesss owners, employees and the public are being urged to blow the whistle on inconsistent and over-zealous enforcement of rules and regulations.
‘E-traders’ included in new tax crackdown - July 2011
New campaigns targeting VAT defaulters, private tutors and e-marketplaces will be launched by HM Revenue & Customs (HMRC) over the next year.
China tax agreement set to boost trade - July 2011
A new double taxation agreement between the UK and the People’s Republic of China is set to encourage more cross-border trade between the two countries.
UK lobbies over European maternity leave proposals - July 2011
The UK has reinforced its opposition to proposals by MEPs to introduce 20 weeks of maternity leave on full pay.
Advice on offer as Rugby World Cup kicks off - July 2011
The Government has issued advice to employers on maintaining productivity and keeping staff engaged during the Rugby World Cup later this year.
VAT Rule Breakers Targeted - June 2011
HM Revenue & Customs (HMRC) has announced it is to target individuals and businesses who are trading above the VAT threshold but have not registered for VAT in a new drive against rule breakers.
Cheque Guarantee Card Scheme Closes - June 2011
The UK cheque guarantee scheme, for businesses and individuals using cheques to make or receive payments, will close on 30 June 2011.
TUPE Rules Included In Employment Law Review - June 2011
The government has announced new areas it will consider reforming as part of its ongoing review of employment red tape, including the rules protecting employees’ terms and conditions of employment when a business changes hands.
Bribery Act Takes Effect on 1 July - June 2011
Time is ticking away for businesses to make sure they have taken the steps appropriate to their operations to prepare for the Bribery Act, which comes into effect on 1 July 2011.
Flexible Working Consultation Launched - June 2011
The Government has launched a consultation on plans to introduce a new system of flexible parental leave from 2015.
Health and Safety Rules Blocking New Jobs, Says Report - June 2011
A new report from the British Chambers of Commerce (BCC) says nearly half of employers believe that health and safety rules are making their lives more difficult.
First Automatic Pension Enrolment Letters Go Out - June 2011
The Pensions Regulator has started writing to the first employers who will need to automatically enrol employees into a workplace pension scheme to remind them of their new responsibilities.
New Growth Fund Opens for Business - June 2011
A new Business Growth Fund (BGF) has been launched to help Britain’s smaller and medium sized businesses with an annual turnover of around £10 million to £100 million.
Thousands Rise To Red Tape Challenge - May 2011
Thousands of businesses are taking up the government’s challenge to comment on more than 21,000 rules and regulations that affect their lives.
US Offers Tax Disclosure Opportunity - May 2011
American citizens and green card holders living in the UK are required to file annual tax returns and other information to the Internal Revenue Service (IRS).
Government Says No To Early Access to Pension Savings - May 2011
The government has decided to rule out further consideration of early access to pension savings for the time being.
Regional Growth Fund Set To Boost Job Creation - May 2011
More than 100,000 new jobs are set to be created and safeguarded under government plans to invest £450 million in businesses across England.
New Minimum Wage Rates Set - May 2011
The government has accepted the independent Low Pay Commission’s (LPC) recommendations for this year’s National Minimum Wage (NMW) rates.
Don’t Forget To PAYE on Time, Says HMRC - May 2011
HM Revenue & Customs (HMRC) has issued a reminder on due dates for PAYE payments made electronically.
New Late Filing Penalties in Place - May 2011
Taxpayers could find themselves paying a high price for submitting late tax returns under a new penalty regime introduced in April.
Round-Up of Budget Reaction - April 2011
Chancellor George Osborne delivered the 2011 Budget on 23 March, saying he intended to “put fuel into the tank of the British economy”.
Online Filing Plans under Fire - April 2011
Government plans to impose online filing on all the main businesses taxes have been criticised by tax campaigners.
Cable Plans Shake-Up of Audit Rules - April 2011
Business Secretary Vince Cable says the government will remove audit requirements from thousands of smaller businesses.
HMRC Seeks Views on Website - April 2011
HM Revenue & Customs (HMRC) has launched an online survey of its website, www.hmrc.gov.uk
R&D Brings Tax Benefits - April 2011
Thousands of companies are benefiting from research and development (R&D) tax credits, according to new figures from HM Revenue & Customs (HMRC).
Businesses Offered Chance to Slash Red Tape - April 2011
Businesses are being urged to get involved in government moves to reduce the burden of red tape.
Employers Set To Say ‘You’re Hired’ To More Apprentices - April 2011
Business organisations have welcomed plans, announced in the March Budget, to increase the number of apprenticeships over the next four years.
HMRC Told ‘Go Back To Drawing Board’ On Record-Keeping Drive - April 2011
A proposal by HM Revenue and Customs (HMRC) to start making large-scale checks of business records before relevant tax returns are submitted is misguided, according to the Chartered Institute of Taxation (CIOT).
The Budget - 23 March 2011 - March 2011
Chancellor of the Exchequer George Osborne billed his second Budget as a “Budget for growth”, telling MPs that it was an “urgent call to action for Britain”. His main ambitions, he said, were to ease the economic burden on families and businesses while promoting Britain as the best place to do business in Europe.
Reminder on Tax Code Notice Change - March 2011
Taxpayers are reminded that copies of the notices informing them of their tax code for the year 2011-2012, sent out during January, February and March, will no longer go to their tax agent or advisor.
Record Numbers File Online - March 2011
Record numbers of people completed their self assessment tax returns online this year, HM Revenue & Customs (HMRC) has revealed.
Childcare Support Changes - March 2011
Businesses are reminded that the rules on employer-supported childcare will change for higher and additional rate taxpayers from 6 April 2011.
Time Running Out on Retirement at 65 - March 2011
Employers are reminded that they only have a limited time remaining to set in motion procedures to retire staff at the age of 65.
Time to Pay Rejection Rate Rises - March 2011
The percentage of Time to Pay requests refused by HM Revenue & Customs (HMRC) in 2010 was more than double the rate in 2009, according to new statistics.
Right to Request Flexible Working Extended - March 2011
Workers’ right to request flexible working is to be extended under a change to be introduced from 6 April, businesses are reminded.
Whitehall Rapped on Quality of Case for New Business Regulations - March 2011
An independent watchdog that reviews government proposals for new regulations affecting businesses says a “worryingly high proportion” fail to make a strong enough case.
‘Game Up’ Warning on Offshore Non-Compliance - March 2011
New penalties of up to 200 per cent could be imposed on anyone hiding money offshore, HM Revenue & Customs (HMRC) has warned.
Deliberate Defaulters Told ‘Taxman Will Be Watching You’ - March 2011
Tax cheats have been warned they face up to five years of detailed scrutiny by HM Revenue & Customs (HMRC).
Company Car Changes Go Electronic - March 2011
An important change to the way employers notify HM Revenue & Customs (HMRC) about replacement company cars will take effect from April 2011.
SMES Urged To Keep Business Records in Shape - March 2011
HM Revenue & Customs (HMRC) has launched new tools to help small businesses, sole traders and the self-employed keep their records in shape.
Businesses Share Common Concerns on Tax - February 2011
A series of roadshows organised by the Office of Tax Simplification (OTS) has highlighted key areas of small business taxation that those affected say need to be reviewed or simplified.
SMEs Count Fraud Toll- February 2011
Fraud costs small and medium-sized enterprises an average of £2,800 a year each, according to new statistics from the National Fraud Authority (NFA).
Tax Appeals May Be Worth Pursuing - February 2011
Taxpayers appealing against HMRC decisions or penalties on technical issues or for late or inaccurate filing of VAT returns have a better than 50:50 chance of success, according to recent statistics.
HMRC Denies National Insurance Problem - February 2011
HM Revenue & Customs (HMRC) has hit back at suggestions that more than £1.3 billion in national insurance contributions (NICs) has been lost.
Tax Experts Offer Help on Underpayment Letters - February 2011
The Low Incomes Tax Reform Group (LITRG) has issued guidance on what action to take if someone receives a tax calculation letter for the 2007-08 tax year from HM Revenue and Customs (HMRC).
Employers Offered Guidance on Pension Changes - February 2011
Employers are being offered extra help to get to grips with new responsibilities under workplace pensions reform.
Consultation Begins In Bid to Cut Employment Tribunals - February 2011
The government has launched a new consultation on plans improve the way in which workplace disputes are resolved.
New Parental Leave Plan Unveiled - February 2011
The government has announced more details of shared parental leave arrangements designed to help families balance work and life commitments.
Consultation under Way on PAYE Reform - January 2011
HM Revenue and Customs (HMRC) is inviting employers to respond to a second phase of consultation on improving PAYE through the use of Real Time Information (RTI).
Corporation Tax ‘Vodcast’ Offers Expert Advice- January 2011
HM Revenue & Customs (HMRC) has teamed up with accountancy experts to provide online advice on changes to corporation tax due in April 2011.
HMRC Joins Twitter - January 2011
HMRC has begun trialling the use of Twitter, operating under the username @hmrcgovuk
Employment Rights Payments Change- January 2011
Annual changes to the payments for unfair dismissal and redundancies will take effect from 1 February 2011.
Business Records Checks Consultation Focuses on SMEs - January 2011
HM Revenue & Customs (HMRC) is seeking views on how best to implement a programme of Business Records Checks, designed to improve record keeping in small and medium-sized enterprises (SMEs).
European Patent Fees Reduced - January 2011
Thousands of innovative UK businesses will reduce the cost of protecting their bright ideas in Europe under new arrangements.
Tax Avoidance Study Group Launched - January 2011
The government has made its first appointment to a group of experts who will explore the potential for a General Anti-Avoidance Rule (GAAR) as part of the UK tax regime.
Tax Reliefs in the Spotlight - January 2011
The Office of Tax Simplification (OTS) has completed a key stage in its major review of tax reliefs.
Concern as Time to Pay Arrangements Fall - December 2010
New figures show that fewer businesses are deferring tax payments through the HM Revenue & Customs’ (HMRC) Time to Pay scheme, designed to help businesses during the economic downturn.
HMRC Reports on R&D Support - December 2010
HM Revenue & Customs (HMRC) has issued a new report on research and development (R&D) decision-making processes in British businesses.
VAT Rules on Entertaining Overseas Customers Changed - December 2010
HM Revenue & Customs (HMRC) has shifted its position on the VAT treatment of business entertainment provided to overseas customers.
Changes to National Insurance payment dates - December 2010
From April 2011, Class 2 National Insurance contributions will need to be paid on the same dates as self-assessment tax bills – 31st January and 31st July.
Smaller Charities Win Online Filing Concession - December 2010
From 1 April 2011 onwards, all companies and organisations will have to file company tax returns online for any accounting period ending after 31 March 2010.
Reminder on Filing Online - December 2010
HM Revenue & Customs (HMRC) has reminded anyone missing the 31 October deadline for filing paper self assessment tax return for 2009-2010 that they have until the end of January to file online.
Alert to Employers on CD-ROM - December 2010
Businesses using HM Revenue & Customs’ (HMRC) Employer CD-ROM have been urged to make sure it is up to date.
Businesses Urged to Prepare for Pensions Shake-Up - December 2010
The government has set out plans for automatic enrolment into workplace pensions.
Spending Review Offers Help to Business - November 2010
Chancellor George Osborne unveiled his Spending Review on 20 October, setting out £81 billion in cuts over the next four years.
New Enterprise Allowance Boost for Start-Up Firms - November 2010
People who have been unemployed for six months and want to start their own business will be offered access to business mentoring and financial support of up to £2,000.
State Pension Age to Rise to 66 by 2020 - November 2010
Chancellor George Osborne has announced a faster than expected rise in the state pension age as part of his October Spending Review.
Business Quangos Bite Dust - November 2010
Regional Development Agencies are among the business-related quangos that face the axe or other changes in a government shake-up.
All Change on National Insurance Cards - November 2010
HM Revenue & Customs (HMRC) has announced a change on replacement national insurance cards, ahead of a phasing out of the traditional plastic card.
Comments Sought on Competition Law Compliance Guidance - November 2010
The Office of Fair Trading (OFT) is consulting on two guidance documents designed to help businesses and company directors comply with competition law.
Track Down Your Missing Pension, Says Minister - November 2010
People who have lost touch with workplace pension schemes from previous employers, as well as personal schemes, are being urged to track them down to ensure they receive all of their entitlements in retirement.
HMRC Shakes Up Contact Centre Opening Hours - November 2010
From 29 November 2010, HM Revenue & Customs (HMRC) contact centres will reorganise their opening times to allow more staff to answer calls during the busy periods.
HMRC issues guidance on tax underpayments - October 2010
HM Revenue & Customs (HMRC) has issued guidance for up to 1.4 million taxpayers who have underpaid PAYE due to incorrect tax codes.
£900M to fight tax non-compliance - October 2010
Large businesses will be among those targeted in a £900 million government plan to tackle non-compliance in the tax system.
New businesses benefit from NI holiday - October 2010
A new regional national insurance (NI) holiday for start-up businesses has come into effect.
CD-ROM alert for employers- October 2010
HM Revenue & Customs (HMRC) has issued an alert to employers who use its Employer CD-ROM to help run their payroll systems.
Businesses get helping hand on awards - October 2010
Businesses looking for opportunities to raise their profile are being given a helping hand by Business Link.
Online guidance to sale of goods act launched - October 2010
The Office of Fair Trading (OFT) launched a new online resource to help businesses comply with the law when customers buy or return goods.
Comments invited on bribery act guidance - October 2010
Businesses are being invited to have their say on guidance designed to help them implement legal measures designed to strengthen the UK's stance against bribery.
Tax specialists criticise paperwork cuts - October 2010
Tax experts have hit out at HM Revenue and Customs' (HMRC) plans to stop issuing copies to tax agents of some mail sent to their clients to help cut costs.
National minimum wage rates rise from 1 October - September 2010
Employers are reminded that new national minimum wage rates (NMW) will come into force from 1 October.
Three-quarters of taxpayers opt for online returns - September 2010
As the 31 October deadline looms for paper tax returns, new figures from HM Revenue & Customs (HMRC) reveal that growing numbers of individual taxpayers are opting for online filing.
Helping hand on VAT errors - September 2010
HM Revenue & Customs (HMRC) has issued new guidance on correcting VAT errors.
Furnished holiday lettings rules under review - September 2010
The government has launched a consultation on the tax rules for furnished holiday lettings.
IHT in the spotlight - September 2010
HM Revenue & Customs (HMRC) has launched a consultation into tackling inheritance tax avoidance associated with trusts.
Tool aids businesses to build age-friendly workplaces - September 2010
UK employers now have access to a free tool that allows them to assess current and future workforce needs.
Taxpayers warned of phone con - September 2010
HM Revenue & Customs (HMRC) is warning taxpayers to be vigilant following reports that thieves are making phone calls pretending to be the taxman.
HMRC brings in debt collectors in 2010-11 - August 2010
Debt collection agencies will be used by HM Revenue & Customs (HMRC) during 2010-11 to collect an additional £140m of tax debt.
Greener cars drive up savings - September 2010
Private and fleet buyers in the UK are to be offered up to £5,000 as an incentive to buy greener cars in a government scheme launching at the start of next year.
HMRC steps up online employer information - September 2010
Employers will be able to access more HM Revenue & Customs (HMRC) advice and guidance online and via downloads as HMRC works to reduce the amount of information it posts out.
PAYE in the spotlight - August 2010
PAYE could be on course for significant change following the launch of a major consultation.
HMRC under fire over income tax cases backlog - August 2010
The head of the National Audit Office has criticised HM Revenue & Customs (HMRC) for failing to make enough progress in reducing a backlog of 18.2 million cases where there is potentially overpaid or underpaid income tax.
Online VAT deadline looming - August 2010
Businesses need to act now if they have not already registered for online filing of VAT returns.
Tax set to be made simpler - August 2010
Chancellor George Osborne has launched a new Office for Tax Simplification (OTS), with the task of identifying areas where complexities in the tax system for businesses and individuals can be reduced.
Get ready for new equality act - August 2010
Time is ticking away for businesses to review their policies and practices to make sure they are in line with the new Equality Act.
Late returns grace period to end - August 2010
Businesses are reminded that a seven-day grace period for late employers’ and contractors’ returns will cease from 31 March 2011.
Guide aims to make managing employee performance easier - August 2010
New guidance is now available for businesses to help them manage the performance of their workforce more effectively.
Revised guidance on 'fit and proper' persons - August 2010
New guidance on the fit and proper persons test for managers of charities has been issued.
HMRC issues new security alerts - August 2010
HM Revenue & Customs has issued a new security warning over an email currently in circulation.
Capital Gains Tax Changes - July 2010
A new rate of Capital Gains Tax (CGT) of 28% will be introduced. For individuals, the rate of CGT remains at 18% where total taxable gains and income, after taking into account all allowable deductions including losses, personal allowances and the CGT annual exemption, are less than the basic rate limit.
Budget Date Announced - June 2010
The new coalition government is settling into office and a date has been announced for the emergency Budget. Chancellor of the Exchequer George Osborne will present the emergency Budget on Tuesday 22 June 2010.
Standard Rate of VAT to Increase - July 2010
It is proposed to increase the standard rate of VAT from 17.5% to 20% with effect for any supply made on or after 4 January 2011.
HMRC Amend PAYE Penalties Guidance - July 2010
At the start of the tax year new late payment penalties were introduced for PAYE and other payments due from employers.
Keep Proper Records! - July 2010
HMRC have recently issued a reminder about the various 'toolkits' that they have developed to assist agents when preparing returns.
HMRC Launch Tax Credit Video - July 2010
Every year, tax credit claimants must renew their tax credit awards by 31 July or their payments may stop.
Business Link Guidance For Farmers - July 2010
Business Link has set up a dedicated new online service for farmers and growers.
Maternity Rights for the Self Employed - July 2010
It appears as though the self employed will become entitled to maternity leave for the first time under new laws introduced by the European Union (EU).
Flexible Working – The World Cup - June 2010
Acas (the Advisory, Conciliation and Arbitration Service) is advising employers to be ready for the World Cup.
State Pension Age And National Insurance Contributions - June 2010
HMRC are reminding employers to take care when deciding whether or not their employees need to pay national insurance contributions (NICs).
Budget Date Announced - June 2010
The new coalition government is settling into office and a date has been announced for the emergency Budget. Chancellor of the Exchequer George Osborne will present the emergency Budget on Tuesday 22 June 2010.
Changes to The Advisory Fuel Rates From 1 June 2010 - June 2010
To reflect the increase in fuel prices, HMRC have issued new advisory fuel rates for employees driving employer provided cars.
Child Trust Fund to be Cut - June 2010
The government has outlined plans to make changes to the Child Trust Fund as part of plans to cut £6 billion in expenditure.
Are There VAT Increases Ahead? - June 2010
The British Chamber of Commerce are predicting that we should expect an increase in VAT to help deal with the country’s budget deficit.
P11D Deadline Looming - June 2010
The forms P11D, and where appropriate P9D, which report employees’ and directors’ benefits and expenses for the year ended 5 April 2010, are due for submission to HMRC by 6 July 2010.
HMRC Warn of Email Rebate Scam - June 2010
HMRC are warning that taxpayers are being emailed stating that they are entitled to a tax rebate.
HMRC Takes Hard Line on Time to Pay Applications - June 2010
The number of companies being refused more time to pay tax bills has doubled, new figures have revealed.
Penalty Guidance on Late Payment of PAYE - May 2010
HMRC have been warning employers for some time that they may have to pay a penalty if they do not pay their PAYE deductions on time.
National Minimum Wage Rates - May 2010
From October 2010, National Minimum Wage rates will increase.
Furnished Holiday Letting Reprieve - May 2010
Getting the Finance Bill 2010 passed between when it was published on 1 April 2010 and the dissolution of Parliament on 12 April was always set to be a heavy load in spite of the fact that there were only 73 clauses and supporting schedules.
HMRC Offer Advice on Fraud Emails - May 2010
HMRC are reminding taxpayers to be vigilant as there have been several reports of scam emails.
P11D Deadline Looming - May 2010
The forms P11D, and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2010, are due for submission to HMRC by 6 July 2010.
VAT And Royal Mail Postage - May 2010
Some types of postal services offered by the Royal Mail will be subject to VAT from 31 January 2011.
Online Submission Of Employers Forms - May 2010
The employer’s annual returns P35 and P14 (P60) are due for submission to HMRC by 19 May 2010. Broadly all employers must submit their forms online this year. Previously those employers with less than 50 employees could file paper forms.
Budget 2010 - April 2010
Alistair Darling presented his third Budget on Wednesday 24 March 2010.
Annual Investment Allowance Increased - April 2010
Most businesses are able to claim an Annual Investment Allowance (AIA) on the first £50,000 spent on plant and machinery. This provides immediate 100% tax relief on qualifying expenditure.
Entrepreneurs’ Relief - April 2010
The amount of an individual’s capital gains that can qualify for Entrepreneurs’ Relief are currently subject to a lifetime limit of £1 million. Gains qualifying for the relief are charged at an effective tax rate of 10% rather than the usual rate of 18%.
Inheritance Tax Nil Rate Band Frozen - April 2010
As previously announced, the nil rate band for 2010/11 will be frozen at the current level of £325,000. This will now be extended to cover the tax years 2011/12 to 2014/15.
Stamp Duty Land Tax And First Time Home Buyerss - April 2010
At present the Stamp Duty Land Tax rate is 1% for residential property purchases where the consideration is more than £125,000 but does not exceed £250,000.
Payment of VAT - April 2010
HMRC are advising businesses that from 1 April 2010 all cheque payments by post will be treated as being received by HMRC on the date when cleared funds reach HMRC's bank account. This change does not affect any cheque payments made by Bank Giro.
Employer Supported Childcare - April 2010
In 2009 the government announced changes to employer supported childcare and HMRC have now issued further guidance on the changes.
National Insurance - New EU Rules - April 2010
HMRC have released new guidance for employers about forthcoming changes to EU rules regarding national insurance for people moving around Europe for work. The rules apply from 1 May 2010. To read the guidance in full, please use the link below.
HMRC Will Publish Details Of ‘Deliberate’ Offenders - April 2010
HMRC have the necessary power under existing tax law to publish the details of taxpayers where it is established that they have committed ‘deliberate’ tax offences. HMRC have confirmed that they will apply this provision for tax periods starting on or after 1 April 2010 and for offences which are committed on or after this date.
Official Rate Of Interest - April 2010
From 6 April 2010 the official rate of interest applying to interest-free or low interest loans made to employees will be 4%. The current rate is 4.75%. Employees are generally liable to tax on a benefit equal to the amount of interest, calculated at the official rate, where the balance of the loan exceeds £5,000 at any point in the tax year.
Employment Rate Falls To 72.2% - April 2010
The government has announced the latest employment statistics which show the number of people in employment has dropped by 54,000.
Fit Notes - April 2010
Fit notes will be brought into effect from April 2010 and are a replacement for sick notes.
Close Company Loan Write Offs - April 2010
Close companies, generally meaning family and owner managed companies, are subject to special rules in relation to loans or advances made to participators and their associates.
Budget date set for 24 March - March 2010
The Chancellor, Alistair Darling, will present his budget speech on Wednesday, 24 March, the government has announced.
New record for filing online tax returns - March 2010
According to HMRC statistics a record number of taxpayers filed their Self Assessment tax returns online this year.
HMRC offer advice on fraud emails - March 2010
HMRC are warning taxpayers to be vigilant as there have been several reports of scam emails offering a tax repayment. Taxpayers should not respond to any email promising a tax repayment.
Managed payment plans - March 2010
HMRC has announced that they will launch a new method of paying tax liabilities, known as Managed Payment Plans, in April 2011.
Student loan repayments - March 2010
HMRC have announced a new initiative to reduce student loan over repayments for those ex students who repay their loan through PAYE deductions.
Tax codes being issued - March 2010
HMRC have updated their guidance on the issue of multiple or incorrect PAYE tax codes to some employees following the introduction of their new National Insurance and PAYE computer system.
Vehicle scrappage - March 2010
The Vehicle Scrappage Scheme is a voluntary scheme for motor dealers under which participating dealers give buyers a £2,000 discount off the purchase price of a new car (or certain types of small van) in exchange for scrapping their old qualifying vehicle.
Inflation - March 2010
Government figures released show that the inflation rate increased to 3.5% in January 2010 from the previous month’s figure of 2.9%.
The Tax Health Plan (THP) - February 2010
HMRC have obtained information from various sources, including NHS trusts, private hospitals and medical insurers and are introducing the THP as an opportunity for medical professionals with tax to pay to get their affairs up to date with the benefit of a fixed penalty.
HMRC new scam emails - February 2010
HMRC have issued a warning about a new scam email which is being sent from ‘HMRC Online Services – test@test.com’ stating that the recipient has one new ALERT message and should log onto their Online Account to read the message.
Employment rights - statutory limits - February 2010
The limit on the amount of the compensatory award for unfair dismissal is set to decrease from 1 February 2010.
Dispensations - new online application form - February 2010
HMRC have introduced the facility to apply for dispensations online.
Tax codes being issued - February 2010
HMRC are advising employees that between January and March 2010 they will be issuing new PAYE coding for 2010/11. The tax codes should reflect the individual’s personal circumstances and include the tax allowances and reliefs that individuals are entitled to.
Scrappage scheme - February 2010
The Vehicle Scrappage Scheme is a voluntary scheme for motor dealers under which participating dealers give buyers a £2,000 discount off the purchase price of a new car (or certain types of small van) in exchange for scrapping their old qualifying vehicle.
Statutory payments - February 2010
The new Statutory Payment Rates for 2010/11 have been announced.
Using your own car for work - February 2010
HMRC issued some important guidance regarding the changes in the place of supply of services rules which take effect from 1 January 2010.
Tax payments - February 2010
For those making tax and national insurance payments, HMRC are reminding that their bank details changed last year.
Extra national insurance burden ahead - January 2010
One of the significant announcements in the Pre-Budget Report is a further increase in national insurance contributions (NIC) which is to take effect from 6 April 2011.
Special annual allowance charge – new limits for 2009/10 - January 2010
In the Pre-Budget Report, changes were announced to the complex rules for the Special Annual Allowance (SAA) charge which affects those with substantial income who make significant pension contributions.
Bank payroll tax- January 2010
In a move designed to tackle certain remuneration practices that are considered to have contributed to ‘excessive risk taking’ in the banking industry, a temporary bank payroll tax of 50% is to apply to certain bonuses regardless of how they are paid.
Offshore disclosure extension - January 2010
HMRC is giving taxpayers with offshore investments more time to come forward under the New Disclosure Opportunity (NDO). The registration deadline, which was due to expire on 30 November 2009 has been moved to 4 January 2010 as some banks need more time to contact their offshore customers.
Changes to the advisory fuel rates from 1 December 2009 - January 2010
To reflect the increase in fuel prices, HMRC have issued new advisory fuel rates for employees driving employer provided cars. These take effect for all journeys undertaken from 1 December, so employers using the advisory rates should advise affected employees and update any expense forms as soon as possible.
HMRC warn of more scam emails - January 2010
As the new year gets underway HMRC are reminding taxpayers to be vigilant as scam emails have been reported.
Tax relief on nursery vouchers - January 2010
Gordon Brown has revised his proposal to withdraw the income tax and NI exemption on employer provided childcare vouchers.
Cross-border VAT changes 2010 - January 2010
HMRC issued some important guidance regarding the changes in the place of supply of services rules which take effect from 1 January 2010.
Bad weather advice - January 2010
The Institution of Occupational Safety and Health (IOSH) are warning people to be prepared for poor weather conditions when travelling. They have produced a few tips to help ensure that travel, whether it is for work or pleasure, remains safe despite the weather.
Intrastat thresholds - December 2009
HMRC have announced significant changes to the Intrastat thresholds. Intrastat is used to report the movement of goods within the EU over certain thresholds.
VAT and new year’s eve traders - December 2009
If you are going to be out celebrating on New Year’s Eve or indeed if your business will be operating over midnight, you will be glad to hear that the government has announced a relaxation of the VAT rules.
Parties for employees - December 2009
Are you planning a party for your employees? The good news is that, unlike entertaining customers, the costs of entertaining employees are generally allowable against the profits of the business.
Swine flu and SSP - December 2009
Under existing rules for Statutory Sick Pay (SSP) employees can self-certify for the first seven days of their illness and employers cannot ask for medical evidence during this period. There has been no change to this requirement.
Online filing of VAT returns - December 2009
HMRC are reminding businesses that new rules on how VAT returns are submitted and payments are made will come into force next year. Paper VAT returns will be phased out from 1 April 2010.
First aid at work - December 2009
The Health and Safety Executive are reminding businesses that the guidance for first aid at work changed from 1 October 2009.
Business rates bills - December 2009
HMRC are reminding employers with 50 or more employees that they should now be filing online their starter and leaver information online.
Accountant's Warning on Tax Enquiries - November 2009
Bradford accountancy firm Watson Buckle is warning businesses and individuals to be aware of the increasing number of investigations by HM Revenue and Customs (HMRC), as the department attempts to crack down on tax avoidance.
Directors’ service addresses - November 2009
Changes introduced on 1 October mean that every director must provide Companies House with both their usual residential address, and a ‘service address’ for each directorship they hold.
Tips don’t count towards the NMW - November 2009
As you may be aware the National Minimum Wage (NMW) rates increased from 1 October 2009.
Tax relief on nursery vouchers to be withdrawn - November 2009
In his speech to the Labour Party Conference, the Prime Minister, Gordon Brown announced an extension of free nursery places, to be financed by the withdrawal of the tax and National Insurance (NIC) exemptions for childcare vouchers.
Scrappage scheme - November 2009
The Vehicle Scrappage Scheme is a voluntary scheme for motor dealers under which participating dealers give buyers a £2,000 discount off the purchase price of a new car (or certain types of small van) in exchange for scrapping their old qualifying vehicle.
Paying PAYE on time - November 2009
HMRC are warning employers that from May 2010 they may have to pay a penalty if they do not pay their PAYE on time. These are generally due each month, on time and in full.
31 October self assessment deadline - November 2009
HMRC are warning taxpayers who wish to file a paper (non electronic) tax return for the 2008/09 tax year, should generally reach them by midnight on Saturday 31 October 2009 (or be hand delivered by Monday 2 November).
Online payroll starter and leaver forms - November 2009
HMRC are reminding employers with 50 or more employees that they should now be filing online their starter and leaver information online.
Royal mail postal strike - November 2009
For the latest information on postal strike action please visit the link below.
The power of one - making your pension work harder for you - October 2009
Have you built up a number of different pension plans throughout your working life? Do you find it difficult to keep track of the true value of your retirement benefits? If the answer to these questions is ‘yes’ then there is a solution!
Additional paternity leave and pay - October 2009
The government has announced its intention to introduce Additional Paternity Leave and Pay for fathers of children due on or after 3 April 2011.
National minimum wage increases -October 2009
The adult rate of the National Minimum Wage (NMW) increases to £5.80 (£5.73) an hour from 1 October 2009. This is payable to those age 22 and over.
Pay for apprentices - October 2009
From 1 August 2009 the minimum wage for apprentices increased from £80 to £95 per week.
Online filing of corporation tax returns - October 2009
HMRC have written to half a million companies and their tax agents, to advise them of important changes to Corporation Tax (CT) return filing. The mail-shot contained a new HMRC leaflet on the changes, which will require all company tax returns delivered after 31 March 2011 to be filed online, for accounting periods ending after 31 March 2010.
Online filing of VAT returns - October 2009
HMRC are advising businesses that new rules on how VAT returns are submitted and payments are made will come into force next year. Paper VAT returns will be phased out from 1 April 2010.
Liechtenstein disclosure facility - October 2009
HMRC have announced details of the Liechtenstein Disclosure Facility (LDF) which has been introduced to support the reviews to be carried out by the Financial Intermediaries in Liechtenstein to identify those who may have liability to UK tax.
New UK border agency controls - October 2009
The government has announced new measures which should enable resident workers to have every opportunity to fill vacancies before they are offered to workers abroad.
HMRC warn of more scam emails - October 2009
HMRC have updated their guidance on scam emails as they are aware that a large number of individuals are receiving emails offering tax rebates.
New disclosure opportunity - September 2009
HMRC have provided more details of the New Disclosure Opportunity (NDO) which is due to take place from 1 September 2009 to 12 March 2010.
Increase in pay for apprentices - September 2009
From 1 August 2009 the national minimum wage (NMW) for apprentices increased from £80 to £95 per week.
'False self-employment' in the construction industry - September 2009
The government has been looking at the best way to address the issue of what they believe is ‘false self-employment’ in the construction industry.
HMRC warn of more scam emails - September 2009
HMRC have updated their guidance on scam emails as they are aware that a large number of individuals are receiving emails offering tax rebates.
'Paper' tax return deadline looming - September 2009
For those wishing to complete paper self assessment tax returns, the filing deadline of 31 October 2009 is fast approaching.
VAT increase to 17.5% - Septembert 2009
HMRC have issued guidance for businesses dealing with the increase in the standard rate of VAT from 15% to 17.5%.
Pension changes ahead - September 2009
Under provisions contained in the Pensions Act 2008 employee pension enrolment and employer contributions are to be made compulsory.
Redundancy pay- September 2009
The weekly maximum pay which can be taken into account when calculating statutory redundancy pay is set to increase from 1 October 2009.
Cross-border vat changes 2010 - September 2009
HMRC have issued important updates in advance of the changes in the place of supply of services rules which take effect from 1 January 2010.
HMRC New Powers and Penalties - August 2009
The new HMRC inspection powers are very much an unknown area for taxpayers, advisors and HMRC and inevitably there are going to be many difficult situations where your clients will feel that HMRC are taking advantage of the law, their over whelming powers, and overstepping the mark. They will probably be right.
Rise in prosecutions for employing illegal workers - August 2009
Businesses are being warned to undertake more rigorous checks into applicants’ backgrounds as the number of prosecutions for employing illegal workers increased over 500%, according to Giant Precision a business process outsourcer.
Are you complying with the national minimum wage rules? - August 2009
HMRC are reminding employers that since the beginning of the current tax year automatic penalties have been introduced for those who do not comply with the National Minimum Wage (NMW) Regulations.
Business payment support services - August 2009
According to government figures, as at the end of April 2009, over 116,000 businesses have agreed time to pay tax arrangements with HMRC to the value of two billion pounds.
Redundancy alternative - August 2009
The Confederation of British Industry (CBI) has made a proposal for an 'Alternative to Redundancy' (ATR) scheme which could be introduced as part of a package of measures to reduce job losses.
Starting a new business - August 2009
HMRC have amended the form CWF1 which is completed by those individuals who have set up a new business either as a sole trader or as a partner in a partnership. The form is used to notify liability to Class 2 National Insurance Contributions (currently £2.40 a week) amongst other things.
HSE warning not to be misled over new law poster - August 2009
The Health and Safety Executive (HSE) is warning businesses not to be misled into buying unnecessary and expensive copies of the health and safety law poster. Employers have a duty to display the poster prominently in the workplace or provide employees with a copy of the pocket card version. Both poster and card set out the employer’s and employees’ responsibilities.
Swine flu advice for businesses- August 2009
The UK has moved from the 'containment' to the 'treatment' phase of swine flu (H1N1) as the number of people catching swine flu continues to rise.
Scrappage incentive scheme successful - August 2009
According to the Society of Motor Manufacturers and Traders (SMMT) 29,796 vehicles have been registered under the scrappage scheme since it started on 18 May 2009. This accounted for 9.7% of June’s new car registrations a total of 17,014 units. In addition to cars 323 vans were also registered in June under the scheme (1.9% of van registrations).
Pension payments - August 2009
Pension contributions made by an individual are usually paid net of basic rate tax. Where the individual is a higher rate taxpayer further relief is due which significantly reduces the net cost of the contribution.
HMRC New Powers and Penalties - July 2009
The new HMRC inspection powers are very much an unknown area for taxpayers, advisors and HMRC and inevitably there are going to be many difficult situations where your clients will feel that HMRC are taking advantage of the law, their over whelming powers, and overstepping the mark. They will probably be right.
Advisory fuel rates - July 2009
To reflect the changes in fuel prices, HMRC have issued new advisory fuel rates for employees driving employer provided cars.
HMRC new disclosure opportunity - July 2009
HMRC have announced some details of the New Disclosure Opportunity (NDO) which is due to take place this autumn.
HMRC PAYE services interruption - July 2009
HMRC are advising taxpayers and employers that, as part of its ongoing plans “to improve customer service and efficiency”, they are in the process of changing the way they process PAYE records.
Extra paternity leave put on hold - July 2009
Proposals to introduce six months’ paid paternity leave for new fathers have been put on hold by the government in the light of the current economic climate.
Employees accrue holiday pay while on sick leave - July 2009
The House of Lords has ruled in the case of Stringer v HMRC that workers who are refused holiday pay while on sick leave can make a claim to an employment tribunal for an unauthorised deduction from wages (under the Employment Rights Act 1996)..
TAX credits renewal deadline - July 2009
Tax credits are state benefits which are generally available to lower income families. However, entitlement to the credits is significantly increased where individuals pay for childcare or suffer a drop in normal levels of income perhaps due to incurring trading losses or redundancy.
HMRC warn of fraudulent email - July 2009
HMRC are warning that an email is currently being sent to some taxpayers advising them that HMRC have “approved them to receive monies”. Apparently the email states that this is as a result of an HMRC program on 15 June 2009.
HMRC are advising that this is not a genuine email and taxpayers should not act on it.
Digital Britain - July 2009
The government has published its report Digital Britain which sets out the government’s plans for the UK to be at the forefront of the global digital economy.
One in five businesses admit data protection breaches- July 2009
A survey of over 500 SMEs carried out by the British Standards Institution (BSI) has found that nearly one in five businesses has unwittingly breached the Data Protection Act (DPA) at least once.
HMRC warning over online fraud risks - June 2009
Electronic communication and transactions are becoming increasingly important in many lines of business – including dealing with HM Revenue and Customs (HMRC), where submitting many forms and payments online is already encouraged and will soon be compulsory.
The New Pension Regime - June 2009
In his Budget, the Chancellor announced two changes to tax relief on pension contributions for individuals with income above a certain level.
New funding hope for businesses - June 2009
Small and medium-sized businesses who have struggled to get access to finance during the credit crunch are being offered help through a new government scheme to encourage the banks to start lending again.
National Minimum Wage increases - June 2009
The adult rate of the National Minimum Wage (NMW) will rise to £5.80 (£5.73) an hour in October 2009. This is payable to those age 22 and over.
Tips and the national minimum wage - June 2009
HMRC have won their case in the Court of Appeal as to the treatment of tips and service charges for bar and restaurant workers.
UK opt out on 48 hour working week - June 2009
The ability of UK employers to allow employees to opt out from the European Working Time Directive is set to continue. This means that, where employees wish, they will still be able to work more than 48 hours a week.
Financial services compensation scheme - June 2009
The Financial Services Authority (FSA) have provided a table listing the largest UK deposit takers.
P11D deadline looming - June 2009
The forms P11D and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2009, are due for submission to HMRC by 6 July 2009.
Landlords and gas safety- June 2009
Landlords letting property equipped with gas appliances need to ensure that they comply with the law relating to gas safety.
Furnished holiday lettings- June 2009
The Budget 2009 contained announcements about significant changes to the rules for furnished holiday lettings (FHL) but those who are affected may have to act fast.
HMRC warn of email scam - June 2009
HMRC are warning that they have become aware that a large number of individuals are receiving emails offering tax rebates.
Vehicle scrappage scheme- June 2009
Alistair Darling made a late change to the impact of business rate rises which were due to take effect in England from 1 April 2009.
Personal tax changes - May 2009
The Chancellor has not only brought forward proposals which were to take place in 2011, he has also made changes to his original announcements.
Restricted tax relief on pension contributions - May 2009
Pension contributions made by an individual are usually paid net of basic rate tax. Where the individual is a higher rate taxpayer further relief is due which significantly reduces the net cost of the contribution.
Enhanced relief for trading losses - May 2009
Under current rules businesses already have a number of mechanisms to relieve trading losses against other income including past trading profits.
Capital allowances on plant and machinery - May 2009
Additional capital allowances are to be available for expenditure incurred by a business in the 12 month period (starting 1 April 2009 for companies and 6 April 2009 for individuals and partnerships).
Standard rate VAT - May 2009
The standard rate of VAT was reduced from 17.5% to 15% for the 13 month period 1 December 2008 to 31 December 2009. HMRC have confirmed that the standard rate of VAT will revert to 17.5% from 1 January 2010.
VAT system for cross-border trading - May 2009
A package of measures is being introduced to simplify and modernise the VAT system for cross-border trading and to counter fraud across the EU.
Bradford & Bingley position of former shareholders - May 2009
As you are no doubt aware, shares in Bradford & Bingley plc were taken into public ownership last year. HMRC have issued guidance relevant to former shareholders and employees who were members of employee share schemes.
Change of HMRC bank account details - May 2009
HMRC bank account details for paying self employed Class 2 and voluntary Class 3 National Insurance Contributions have changed. HMRC have advised that individuals will need to use the new account details when making a payment.
Businesses given more time to pay business rates - May 2009
Alistair Darling made a late change to the impact of business rate rises which were due to take effect in England from 1 April 2009.
Companies review their audit contracts in an effort to cut costs - April 2009
Life’s not always about labels, especially when it comes to getting value for money says Bradford based accountancy firm, Watson Buckle.
Budget April 2009 - Pensions and ISA's - April 2009
Higher earners, pension funding and saving for the future - does it affect you?
Budget Report - April 2009
Chancellor of the Exchequer Alistair Darling has delivered a Budget Report against a background of recession and with little in the way of good news for UK business in the short to medium term. He did dangle the odd carrot in the medium to long term in an attempt to keep the UK taxpayer motivated. Sadly some of the suggestions of increases in taxation to fill the gap in the economy did get announced and in addition we saw some new initiatives to close down tax avoidance schemes and some new compliance initiatives. These initiatives are clearly introduced with a view to raising revenue.
National insurance contributions from April 2009 - April 2009
From 6 April 2009, changes have been made to how employers will have to record National Insurance Contributions (NICs) due to changes to the State Second Pension.
New statutory payment rates for 2009/10 - April 2009
The new Statutory Payment Rates for 2009/10 have been announced (subject to Parliamentary approval).
Changes to SSP for agency workers - April 2009
Following the Court decision in the case of Thorn Baker Limited, the Department for Work and Pensions (DWP) have amended the legislation.
Statutory maternity leave, salary sacrifice and non-cash benefits - April 2009
Salary sacrifice is a change to an employee’s contractual pay entitlement. It often involves the giving up of some entitlement to pay in return for some other form of benefit, such as employer pension contributions or childcare vouchers.
'How to pay' changes - April 2009
During 2009, HMRC will be changing the bank accounts into which businesses and individuals make payments. These changes will be phased in throughout the year but HMRC will keep businesses and taxpayers informed of any changes.
Avoiding and resolving workplace problems - April 2009
The legislation governing how businesses deal with disputes with their employees is changing from April 2009. The new simpler and more flexible system is intended to save businesses time and money.
PAYE changes - April 2009
HMRC have issued a reminder to employers with 50 or more employees that they must send their employee starter and leaver information - P45s, P46s and P46(Pen) for pensions - online from 6 April 2009.
HMRC warn of latest fraud attempt - April 2009
HMRC are warning taxpayers of the latest fraud attempt to be reported to them.
Rise in late payments to SMES - April 2009
According to Bacs Payments Schemes Limited (Bacs) small and medium size enterprises (SMEs) are now owed £25.9 billion. This is apparently due to a 40% increase in overdue payments over the last year.
Budget day confirmed- March 2009
Chancellor Alistair Darling will present his Budget speech at 12.30pm on Wednesday 22 April 2009.
We will keep you informed of any further developments.
Internet link: HMRC announcement
HMRC announce self assessment filing record - March 2009
According to HMRC, a record number of taxpayers filed their 2007/08 self assessment tax returns online. 5.75 million returns were filed online by the 31 January 2009 deadline, beating last year’s by over 50%.
CBI predict deeper UK recession - March 2009
The latest CBI forecast predicts things are going to get worse for the economy before they get better.
Marks & Spencer VAT win - March 2009
Marks and Spencer (M&S) won a landmark victory last year in the European Court of Justice (ECJ). The case concerned whether or not HMRC were correct to limit the amount of VAT they repaid to the company after their chocolate teacakes were reclassified as a cake rather than a chocolate biscuit.
Beneficial loan rate - March 2009
HMRC have announced a reduction in the beneficial loan rate of interest from 6.25% to 4.75% from 1 March 2009. This is the rate of interest which is used to calculate the value of the benefit provided to employees where they receive a cheap or interest free loan from their employer.
Employment rights - statutory limits- March 2009
The limits on payments and awards made to workers in certain situations increased from 1 February 2009, where the event giving rise to the entitlement to the payment arose on or after this date.
Business payment support services - March 2009
According to Government figures, over 60,000 businesses have agreed time to pay tax arrangements with HMRC which total more than one billion pounds.
Employment law guidance programme- March 2009
The Department for Business, Enterprise and Regulatory Reform Employment Law Guidance Programme is designed to help employers save time and money when complying with their employment law obligations.
Changes to the national minimum wage from 6 April 2009 - March 2009
The National Minimum Wage (NMW) rules have been with us for some years and require minimum rates of pay for certain workers. The government is now getting tough with those who do not pay the NMW.
Don’t miss out on reclaiming VAT - February 2009
Businesses involved in overseas trade could be in line for a VAT refund windfall on entertaining foreign clients, but time is running out to make backdated claims.
HM Revenue & Customs (HMRC) has traditionally blocked businesses from reclaiming VAT incurred when entertaining overseas contacts, but a recent European Court of Justice ruling has opened the door to claims for repayment of VAT.
Higher late filing of accounts penalties – watch out! - February 2009
If you run your own company you will no doubt be aware that company law requires all companies to file a copy of their annual accounts at Companies House by their ‘due date’. Penalties become payable if these accounts are filed late.
PAYE tax codes about to be issued - February 2009
HMRC have advised that they are about to issue PAYE tax codes to employees for the 2009/10 tax year.
Holidays - February 2009
On returning to work in the New Year, many will be reaching for the travel brochures to plan their next holiday getaway. Now would be a good time to ensure that your employees’ (or your own) holiday entitlement has been correctly calculated, especially as many employees’ entitlement may need to be increased due to a change in the minimum holiday entitlement, which takes effect later this year.
Pay HMRC by Direct Debit - February 2009
HMRC have announced that they are now able to offer more customers the option of paying by Direct Debit. If taxpayers are registered to use Self Assessment Online, PAYE Online for employers or Corporation Tax Online they can now set up Direct Debit payments online.
Government help for businesses- February 2009
Richard Lambert, CBI Director-General, has given his analysis of the Government’s announcement on lending in the economy.
Reduction in the standard rate of VAT - February 2009
The standard rate of VAT was reduced from 1 December 2008 from 17.5% to 15%. HMRC have published some further frequently asked questions which clarify the correct treatment in several situations.
Health in Pregnancy grant- February 2009
Pregnant women are being urged to apply for the new Health in Pregnancy grant of £190.
In order to qualify the baby must be due on or after 6 April 2009.
New HMRC penalties - February 2009
There is a significant change in the approach which HMRC will be taking in dealing with tax returns relating to periods starting on or after 1 April 2008, where the return is due to be submitted on or after 1 April 2009.
HMRC warn about email fraud - February 2009
HMRC are warning taxpayers that recently they have been made aware of the email scams.
Business Payment Support Service - January 2009
The Business Payment Support Service, announced in the Pre-Budget Report 2008, is designed to meet the needs of businesses affected by the current economic conditions.
Changes to the advisory fuel rates from 1 January 2009 - January 2009
To reflect the reduction in fuel prices, HMRC have issued new advisory fuel rates for employees driving employer provided cars. These take effect for all journeys undertaken from 1 January 2009, so employers using the advisory rates should advise affected employees and update any expense forms as soon as possible.
Demand for advice on redundancy and lay-offs - January 2009
Acas, the Advisory, Conciliation and Arbitration Service, have reported a sharp increase in the number of businesses and employees seeking advice on redundancy, lay-offs and business transfers.
Bank rate cut makes history - January 2009
In an unprecedented move, the Bank of England has today cut interest rates to 1.5 per cent, the lowest level since its inception in 1694.
VAT - Extension of 14 day limit - January 2009
HMRC have issued further guidance to businesses on the reduction in the standard rate of VAT from 1 December 2008. The guidance clarifies certain issues regarding the ‘tax point’ rules for the date of supply.
Double up on your duty free - January 2009
Travellers can now bring back more than double the amount of gifts and souvenirs from outside the EU without paying UK duty. The changes are as a result of a proposal that Gordon Brown made to the European Commission in 2004.
Capital allowances on cars- January 2009
HMRC have issued some draft legislation and guidance on how the tax relief on business cars, known as capital allowances, will be calculated from April 2009.
Tax bands in disguise - January 2009
The Pre-Budget Report saw the launch of a new super income tax that could see some of the UK’s wealthiest individuals forfeit up to 60p in the pound. The return of the 60p tax is the Government’s latest attempt at appeasing disquiet among basic-rate payers, but is it all a little confused?
Bank rate cut makes history - January 2009
In an unprecedented move, the Bank of England has today cut interest rates to 1.5 per cent, the lowest level since its inception in 1694.
Standard rate VAT - December 2008
The standard rate of VAT will be reduced from 17.5% to 15% for the period 1 December 2008 to 31 December 2009. The rate will then revert to 17.5%. No changes have been made to the 5% reduced rate or the 0% rate.
Proposed personal Tax changes - December 2008
The government has announced significant changes to the system of personal allowances and tax rates for the next few years. These mainly impact on those with higher levels of income.
Corporation tax changes - December 2008
The main rate of corporation tax which applies to companies with profits of more than £1.5 million fell to 28% from 30% from 1 April 2008.
Taxation of business travel - December 2008
Further details have been provided on the changes to the capital allowance treatment of cars. The changes will have effect from 1 April 2009 for corporation tax purposes and 6 April 2009 for income tax.
Discipline and grievance code of practice - December 2008
Acas (Advisory, Conciliation and Arbitration Service) has made available a revised Code of Practice dealing with discipline and grievance procedures. The Code has been approved by the Secretary of State for Business, Enterprise and Regulatory Reform
Pension forecast - December 2008
Do you know how much your state pension could be when you retire? The Pensions Service will provide a forecast of this information either by letter or an online email service.
Tougher penalties for health and safety offences - December 2008
New legislation under the Health and Safety Offences Act 2008 will increase penalties and provide courts with greater sentencing powers for those who flout health and safety legislation.
Child trust fund - December 2008
According to HMRC data the success of the Child Trust Fund (CTF), the tax exempt long-term savings and investment account for children born on or after 1 September 2002, continues to grow.
Parties for employees - December 2008
Are you planning a party for your staff? Make sure you are clear on the tax implications.
Pre Budget Report 2008 - November 2008
Chancellor of the Exchequer Alistair Darling has delivered a much-anticipated Pre-Budget Report against a backdrop of economic slowdown and turbulence in the global economy, which has steadily deteriorated since the 2008 Budget on 14 March.
Improvements announced to State Pension Scheme - November 2008
The DWP announced last week that the Government is proposing an amendment to the Pensions Bill which will allow some people to make up to six additional years of voluntary (Class 3) NI contributions in addition to those permitted under existing time limits.
Intestacy rules - November 2008
The Ministry of Justice has announced an increase in the amount of the statutory legacy on intestacy. The statutory legacy is the amount which an individual is entitled to receive from the estate of their husband, wife or civil partner where the individual has not made a Will.
Temporary Exemption On Stamp Duty Land Tax - November 2008
In a move to help the property market and first time buyers, Alistair Darling has introduced a Stamp Duty Land Tax (SDLT) exemption or holiday for purchases of residential property from 3 September 2008 to 2 September 2009 (inclusive).
Shopping on the Internet - November 2008
HMRC have updated their guidance on buying goods on the internet explaining when duty and / or VAT will need to be paid.
Changes to rights during maternity leave - November 2008
Following changes made to the Sex Discrimination Act and to the Maternity and Parental Leave Regulations, the law on contractual terms of employment during Additional Maternity Leave (AML) changed in respect of women whose babies were due on or after 5 October 2008. The date the baby is due, as shown on the MATB1 certificate (provided by the midwife or doctor at around 20 weeks into the pregnancy) is the relevant date and not the date the baby is actually born.
Gift aid form amended - November 2008
HMRC have updated their model Gift Aid declaration form for charities and community amateur sports clubs to reflect the reduction in the basic rate of tax from 22% to 20% from the beginning of this tax year.
Entrepreneurs’ relief - November 2008
The system of capital gains tax (CGT) for individuals and trustees changed radically from 6 April 2008. The changes included the abolition of taper relief and indexation allowance and the introduction of a single rate of CGT of 18%.
Tougher Penalties for Persistent Late Filing of Company Accounts and Returns with Companies House - November 2008
Late filing penalties are now doubled if accounts and returns for financial years beginning on or after 6 April 2008 are filed late in two successive years.
Mandatory Company Trading Disclosures - November 2008
From 1 October 2008, new rules are in place to unify and replace the various regulations setting out the trading disclosures that incorporated companies must make to show their legal identity. This is now being monitored by Trading Standards and can result in a £5000 fine.
Extra Take Home Pay - October 2008
For many employed individuals who are checking their payslip this month it should include a welcome bonus of a £60 reduction in their income tax deduction.
CBI Forecast - October 2008
A CBI forecast has predicted a ‘shallow recession’ during the final part of 2008 and that growth in the economy in 2009 will be the lowest since 1992.
Temporary Exemption On Stamp Duty Land Tax - October 2008
In a move to help the property market and first time buyers, Alistair Darling has introduced a Stamp Duty Land Tax (SDLT) exemption or holiday for purchases of residential property from 3 September 2008 to 2 September 2009 (inclusive).
Fake HMRC Emails - October 2008
HMRC are warning taxpayers that they are aware of a high number of emails being sent out offering a tax rebate.
Change To Benefits System - October 2008
From 27 October 2008, in a change to the benefits system, Employment and Support Allowance (ESA) will replace the current state benefits (Incapacity Benefit and Income Support) which are paid to individuals on incapacity grounds.
NMW Rates To Rise - October 2008
National Minimum Wage (NMW) rates are set to rise from 1 October 2008.
HSE Don’t Ban This, That And The Other - October 2008
The Health and Safety Executive (HSE) are keen to dispel the myth that they are responsible for banning ‘this, that and the other’.
Proposed Strict New Jobs List - October 2008
The UK Border Agency is proposing to introduce a new list of shortage jobs in order to better target migration at the needs of British businesses.
Tax Relief Boost For Small Businesses - September 2008
Bradford based chartered accountants and business advisors, Watson Buckle, are encouraging entrepreneurs to take advantage of a boost to a tax credit system.
Gift Aid Transitional Relief - September 2008
Charities are entitled to claim a tax repayment in respect of gift aid donations made by individuals.
Reducing Employers’ Administration - September 2008
The Department for Business, Enterprise & Regulatory Reform (BERR), has launched a campaign advising employers on how they can reduce the amount of administration involved in dealing with their employment law obligations.
NMW Changes - September 2008
HMRC have announced that some changes to penalties and calculation of arrears of National Minimum Wage (NMW) payments have been delayed to April 2009.
Salary Sacrifice Arrangements - September 2008
Salary sacrifice is a complex area which should not be overlooked.
Penalties - September 2008
HMRC have published a leaflet on the new HMRC penalties warning tax payers to make sure that their records are sufficient to comply with the new penalty regime.
‘Paper’ Tax Return Deadline Looming - September 2008
HMRC are reminding taxpayers who wish to complete paper self assessment tax returns that the new 31 October 2008 deadline is ‘only weeks away’.
Licence To Bring In Migrant Workers - September 2008
The UK Border Agency has started a television campaign aimed at employers to help prepare them for the introduction of the government's new rules for skilled migrant workers which become effective from November 2008.
VAT Treatment Of Charity Challenge Events - September 2008
HMRC have issued revised guidance on Charity Challenge Events, including those that qualify for the VAT Charity Fundraising Exemption.
Careless Drivers - September 2008
Under the new careless driving laws, which came into effect from 18 August 2008, motorists who kill whilst avoidably distracted at the wheel will face prison.
Give Yourself A Tax Break By Cycling To Work - August 2008
Fuel prices may be starting to fall, but more and more of us are still thinking about cutting down on our mileage, not just to cut our motoring costs but to reduce our carbon footprints too.
Termination Payments - August 2008
When a business and a member of staff go their separate ways, the tax status of any termination payment can be a significant issue for both parties. In the current economic climate, where more businesses are considering redundancies, employers need to be clear where they stand.
Extra Personal Allowances - August 2008
HMRC have now issued further guidance on the increase in the personal tax allowance which is due to take effect from 7 September 2008.
Report On HMRC’s Lost Discs - August 2008
Alistair Darling has made a statement to Parliament following the Poynter Review, which was commissioned following the loss of the child benefit data discs.
Professional Subscriptions - August 2008
Do you pay any professional subscriptions? If so then tax relief may be due on the subscription as long as the professional body appears on the latest HMRC list.
HMRC Penalties For Errors - August 2008
HMRC have issued revised guidance on the system of penalties which they will be able to apply to taxpayers.
£10,000 VAT Errors - August 2008
Businesses have long been allowed to correct net errors not exceeding £2,000 in their VAT returns.
HMRC Powers - August 2008
HMRC has been busy aligning its own rights and powers following the merger, several years ago, between the two old organisations of the Inland Revenue and HM Customs.
Newcomers Must Earn The Right To Stay In The UK - August 2008
The government has announced that foreign nationals who wish to become British citizens will have to earn the right to stay here.
Accountants Highlight New Audit Thresholds - July 2008
A reminder has gone out to small businesses from Bradford chartered accountants Watson Buckle to be clear on whether they need to continue with an annual independent audit, following changes to the thresholds above which this is compulsory.
Advisory Fuel Rates - July 2008
To reflect the increases in fuel prices, HMRC have issued new advisory fuel rates for employees driving employer provided cars. These take effect for all journeys undertaken from 1 July 2008 so employers wishing to use the new rates should advise affected employees and update any expense forms as soon as possible.
HMRC Warning On Scams - July 2008
HMRC have updated their guidance on scams. HMRC have become aware of a new ruse to persuade unsuspecting taxpayers to complete a form detailing their bank or credit card details.
Illegal Working - July 2008
For many years, there have been requirements for employers to verify the identity of their workers in order to prevent illegal working.
Employees’ Mileage Payments - July 2008
As you may be aware there is a statutory system of tax and NIC free mileage rates for business journeys in an employee’s own vehicle. These mileage payments are known as ‘Authorised Mileage Allowance Payments’ (AMAP).
Tax Freedom Day - July 2008
This year ‘Tax Freedom Day’ fell on June 2. The statistics make interesting reading in that the average UK taxpayer spends more than five months of the year working for the government as opposed to working for themselves.
National Minimum Wage And Tips - July 2008
An Employment Appeal Tribunal has ruled in HMRC’s favour in the case of Annabel’s Restaurant and Nightclub. The case concerned the payment of tips through a ‘tronc’, which is an arrangement which sometimes operates in the restaurant industry.
Surfing At Work - July 2008
According to the CBI the average UK office worker spends 95 minutes of their working week surfing the web for personal use. This they estimate costs the economy £10.6 billion a year.
Tax Credits Renewal - July 2008
Tax credits are state benefits which are generally available to lower income families. However, entitlement to the credits is significantly increased where individuals pay for childcare or have a dip in normal levels of income perhaps due to incurring trading losses.
Payroll Changes And Personal Allowances - July 2008
Tucked away in a recent issue of ‘Notes for payroll software developers’ is a bit more information on the timescale for the increase in the current year’s personal allowance from £5,435 to £6,035 and the reduction in the higher rate point from £36,000 to £34,800.
New Penalties For Tax Return Mistakes - June 2008
The government has announced new legislation with a view, they say, to making the tax penalty regime simpler and more effective
Calculating Company Car Tax for Directors - June 2008
April also sees the introduction of a new relief against Capital Gains Tax (CGT) – Entrepreneur’s relief. This relief was announced in January 2008 after widespread outrage at the chancellor’s plans to overhaul the Capital Gains Tax regime.
10% Tax Rate Climb Down - June 2008
We live in quite amazing times in the world of tax. Over a year ago, in Gordon Brown’s last Budget speech as Chancellor, the so-called ‘abolition’ of the 10% starting rate was announced. The government’s reason for this was, and still remains, the simplification of the tax system.
Take Care What Information You Post On The Internet - June 2008
It has been reported in the Daily Express that tax inspectors are searching social networking sites for potential tax evaders, who may be ‘advertising’ their wealth or assets which may lead HMRC to believe they have ‘hidden’ remuneration.
Health And Safety Risks Caused By Hangovers - June 2008
According to a new survey conducted by Norwich Union Healthcare, 77% of employers believe alcohol is the main threat to employee wellbeing and a big contributor to employee absence.
Flexible Working Extension - June 2008
The government has announced plans to extend the right to request flexible working to parents with children up to the age of 16.
SMP And Salary Sacrifice Arrangements - June 2008
HMRC have published some guidance on the complex area of salary sacrifice and entitlements to both statutory maternity pay and continuing non cash benefits during maternity leave.
Update Your Will - June 2008
The Law Society has warned that thousands of Wills could need updating as a result of rising care and nursing fees which force the elderly to sell their assets, in many instances their homes, to pay for care. The home is generally the largest asset left to loved ones.
Payroll Changes And Personal Allowances - June 2008
Chancellor Alistair Darling has announced an increase in the personal allowance of £600 and an adjustment to the higher rate threshold (the total of the personal allowance and basic rate limit) as reported in the earlier article, ‘10% tax rate climb down’.
Drive To Help Women Boost Their State Pension - June 2008
Women pensioners could boost their state pension or even be in line for a windfall payment under special terms.
Take Extra Care With Your Tax Returns, Say Accountants - May 2008
West Yorkshire chartered accountants Watson Buckle have warned taxpayers and businesses that new penalties are on the way for incorrect tax returns.
Credit Squeeze - May 2008
It appears that many businesses are suffering a cash “squeeze” from delayed payment of their invoices as the credit crunch begins to impact on the economy.
Homeworking Costs Increase - May 2008
From 6 April 2008, HMRC has increased the tax and NIC free guideline rate that employers can pay home working employees without keeping records from £2 to £3 per week.
P11D Deadline Looming - May 2008
The forms P11D, which report employees and directors benefits in kind and expenses, are due for submission by 6 July 2008 for the year ended 5 April 2008.
Employment Support Allowance - May 2008
Incapacity Benefit and Income Support are to be replaced by Employment Support Allowance (ESA). The change takes effect from 27 October 2008.
Skills Gap - May 2008
With school and college students preparing to start the summer term and sit final examinations, the CBI has published the results of a new annual audit of the nation’s skills.
Employees Entitled To Know More - May 2008
The Information and Consultation of Employees Regulations 2004 have been extended to cover undertakings with 50 or more employees from 6 April 2008.
Entrepreneurs’ Relief - May 2008
After business leaders voiced their objections to the abolition of taper relief, the Chancellor introduced a new Entrepreneurs’ Relief (ER). ER may be available for disposals, reorganisations and relevant transactions taking place on or after 6 April 2008.
10% Rate Of Income Tax - May 2008
HMRC have issued some additional guidance on filing in year forms online. The guidance concerns online submission of forms P45 and P46.
Marks & Spencer VAT Win - May 2008
M&S have won a landmark victory in the European Court of Justice. The case concerned whether or not HMRC were correct to limit the amount of VAT they repaid to the company after their chocolate teacakes were reclassified as a cake rather than a chocolate biscuit.
Changes to Residence and Domicile Tax Rules - By John Kinsella - April 2008
As a result of the confirmation in Alistair Darling’s budget, April 6th 2008 is the date that they new legislation on taxation for non-domiciled individuals comes into force.
Entrepreneurs’ Relief - By John Kinsella - April 2008
April also sees the introduction of a new relief against Capital Gains Tax (CGT) – Entrepreneur’s relief. This relief was announced in January 2008 after widespread outrage at the chancellor’s plans to overhaul the Capital Gains Tax regime.
National Minimum Wage Increases - April 2008
The National Minimum Wage will rise to £5.73 (£5.52) an hour in October 2008.
Entrepreneurs' Relief Draft Legislation - April 2008
In the Pre-Budget Report last October Chancellor Alistair Darling announced a series of changes to the capital gains tax (CGT) regime for individuals and trustees.
Update On Residence And Domicile - April 2008
The government will implement a package of reforms announced in the 2007 Pre-Budget Report subject to certain changes. The measures will take effect from 6 April 2008.
‘Income Shifting’ Legislation Delayed - April 2008
The introduction of the proposed legislation on ‘income shifting’ has been delayed until April 2009.
Online Submission Of Employers Forms - April 2008
The employers annual returns P35 and P14 (P60) are due for submission to HMRC by 19 May 2008.
Reduced Rate For Smoking Cessation Products - April 2008
A reduced 5% VAT rate for ‘over the counter’ sales of smoking cessation products was introduced from 1 July 2007 for a period of one year only.
Implementation Date Change For Rights During Maternity Leave - April 2008
Following changes being made to the Sex Discrimination Act and, later this year, to the Maternity and Parental Leave Regulations, the law on contractual terms of employment during Additional Maternity Leave (AML) is due to change in respect of women whose babies are due on or after 5 October 2008.
In Year Online Filing Of Employer Returns - April 2008
HMRC have issued some additional guidance on filing in year forms online. The guidance concerns online submission of forms P45 and P46.
The Budget 2008 - March 2008
Alistair Darling has delivered his first Budget as Chancellor of the Exchequer. His focus was very much on stability against a backdrop of economic slowdown and turbulence in the global financial budgets.
Nigel Thornton, E & L (Erhardt & Leimer) Ltd
