Is Your Self Assessment Too Taxing |
The Christmas rush may be over but for many that means the start of the self assessment rush. The January 31st self-assessment deadline is often approached with dread, however, completing your tax return form within the given time constraints can be achieved with the right amount of preparation and some simple, solid, professional advice, advises based Stevenage based accountants and business advisers Wilder Coe LLP. |
How Will Gordon's Final PBR Affect You and Your Business? |
The last pre-budget report (PBR) from Chancellor Gordon Brown was surprising brief, yet contained many key points, according to London based accountancy firm Wilder Coe LLP. While green issues dominated, underlying these were major financial and tax implications for local businesses and individuals to address. |
Pre-Budget Report 6 December 2006 |
This year’s Pre-Budget Report is almost certainly Gordon Brown’s last as Chancellor. On this occasion, his March 2006 Budget predictions for growth and borrowing have proved reasonably accurate, even if overall borrowing is still at an uncomfortably high level. While Mr Brown’s speech itself contained very few surprises, the supporting material issued by the Treasury and HM Revenue & Customs (HMRC) revealed a wide variety of important tax measures. |
Tackle Debt To Tackle Money Worries |
As the Conservatives launch a new campaign which cites debt as one of the major causes of poverty in this country, a leading local insolvency expert is inviting local people to attend a free consultation to discuss their debt worries. |
Pension Aspects Of Age Legislation Delayed |
We have previously reported that the Employment Equality (Age) Regulations 2006 took effect from 1 October 2006. These regulations introduce significant changes to recruitment, appraisal, promotion, redundancy and retirement procedures. |
Stamps Available Online |
We reported a couple of months ago on the changes to the postal charging system which introduced pricing by size and weight. |
Payroll Online Filing Incentive Available |
HMRC have advised small employers who successfully filed their 2005/06 payroll end of year returns, P35 and P14s, online that they can now reduce their next PAYE payment by the £250 incentive payment. |
Are You Or Your Employees Late For Work? |
A study carried out by Manchester University has found that the average worker is late for work once a month which is a problem for many businesses. |
Women Go It Alone |
An increasing number of women are setting up their own businesses after becoming mothers, according the report produced by the London School of Economics and Yellow Pages. |
VAT Fuel Charge Set To Rise |
The EC has finally agreed the UK’s proposal to align the output VAT charge with the benefit in kind charge on the provision of private fuel assessable on the individual. |
Benefits In Kind On Private Use Of Computer Equipment |
The Finance Act 2006 abolished the £500 tax exemption for the private use of computer equipment provided by an employer to an employee. This removed a tax-free incentive by which employers had been able to offer their employees tax-free home use of computer and related equipment such as scanners and printers. |
Pensions Warning |
Tony Hobman, chief executive of the Pensions Regulator, has warned companies not to sell or abandon their final salary pension funds without proper provision for meeting their deficits, which are estimated to be more than £100bn. |
National minimum wage changes |
Many legislative changes are confined to April and October each year. 1 October 2006 sees the introduction of a number of changes not least of which are the increases to the national minimum wage (NMW) rates. |
HMRC won't give opinions on trading status of companies |
For a number of years taxpayers or their agents have been able to approach HMRC for their views as to whether a company was a trading company for business taper relief purposes. |
UK facing skills crisis |
Over the last few months it has been reported that employers are finding it difficult to find employees with the relevant skills. According to the TUC the only way to solve the skills crisis in the UK is for businesses to provide more training to their employees. |
Recruitment and age discrimination |
The Employment Equality (Age) Regulations 2006 take effect from 1 October 2006. ACAS has published a free guide for business owners to help them deal with the regulations. |
Age discrimination and PAYE |
The Employment Equality (Age) Regulations 2006 become law from 1 October 2006 and this has far reaching implications. HMRC have published some guidance which looks at the implication of the legislation on payment of some statutory payments which employers make. |
Guidance issued on maternity pay changes |
As part of the Work and Families Act there will be some significant changes to maternity pay entitlement for women whose babies are due from 1 April 2007 onwards. |
Change for VAT treatment of mobile phones |
HMRC have published guidance for businesses which buy and sell mobile phones, computer chips and certain other goods which will change the way in which VAT is dealt with on these items by making the purchaser responsible for paying the VAT using a system known as ‘reverse charge’. |
Red tape is holding business back |
The Federation of Small Businesses (FSB) has joined forces with the Foreign Policy Centre (FPC) to campaign against regulations that they believe limit small business growth. |
Changes in trust legislation |
The Finance Act 2006 has introduced far reaching changes to the taxation treatment of trusts. |
Recent Changes to British Trust Legislation |
Recent months have seen dramatic changes to trusts and inheritance tax law, and the ongoing amendments and U-turns since the first announcements have not helped clarify the situation. |
Stevenage Expert Witness Gains Unique Accreditation |
A leading Stevenage based licensed insolvency practitioner has received accreditation from a prestigious scheme for expert witnesses.. |
Tax Return Deadline |
Lord Carter has revised his recommendations on bringing forward the personal tax return submission deadline. After consultation with the professional bodies, the proposed deadlines from 2008 will be 31 October for paper returns and will remain at 31 January for returns filed online. |
Advisory Fuel Rates for Company Cars |
HMRC have announced new rates for journeys on or after 1 July 2006. These rates apply to company car drivers who are reimbursed for business miles driven. |
Age Discrimination and Retirement |
HMRC have published some guidance on age discrimination. HMRC’s 10 key points about age legislation and retirement are reproduced in this article. |
Money worries continue across the region, even for the wealthy |
With recently published figures suggesting that a million people in Britain could be on the verge of bankruptcy, Norman Cowan licensed insolvency practitioner at Wilder Coe LLP Business Recovery, has reported a 30 per cent increase in enquiries regarding debt problems. |
HM Revenue & Customs are to review Employee Car Ownership Schemes (ECO Schemes) |
At the time of the budget the Government announced that it was to carry out a review of ECO Schemes. The nature of this review was not outlined but in an evaluation report on company cars there was mention of the reduction in the number of company cars by 400,000 since the change in the taxation rules in 2002. |
Retirement Planner Magazine Outline topic list – Tax/Trust Planning for expats. |
International Accounting Standards (IAS) are likely to have a more immediate effect on the hotel industry than many realise, comments Chris Gent of London based accountants, Wilder Coe LLP. |
The regulations can affect all areas of the industry, including hotels and their suppliers, whether owned by an international company, have links to overseas companies, or even if you think your company has nothing to do with any of the above. |
As HM Revenue and Customs announces amendments to National Insurance rules on the taxation of tips distributed through a tronc, Chris Gent from London based Wilder Coe LLP Chartered Accountants, looks at the current situation for hotels. |
In December’s issue of Hotel and Business, I explained the rules regarding the tips distribution scheme know as a tronc. Now just a few months later the rules are set to be revised and hotels need to ensure they are prepared for the changes which relate to contracts and mandatory tips. |
London based Wilder Coe LLP Chartered Accountants, look at the current issues surrounding probate and argue the case for reform and regulation. |
With the Institute of Legacy Management estimating recently that fraud in the area of estate management could amount to as much as £150 million, clearly there are issues which need addressing. Much of these can be attributed to the unsatisfactory training and regulation of those practitioners involved in Wills and estate planning which lead to poor service for consumers and support for professionals |
Wilder Coe LLP Partner Goes Global |
A London based chartered accountant is delighted to have been appointed to the global board of a worldwide accounting organisation. Mark Saunders partner at Wilder Coe LLP is now a global board member of Integra International, the worldwide network of independent accounting and consulting firms. |
Ian Saunders of Artaius Company Services comments on the news that Companies House will accept on-line filing of accounts. |
The announcement this week that Companies House will now accept on-line filing for certain accounts, is excellent news for Company Secretaries, accounting firms and their clients. |
How will the news that Companies House can now accept on-line filing of accounts affect small businesses? Ian Saunders of Artaius Company Services comments on development. |
The announcement earlier this month that Companies House will now accept on-line filing for certain accounts, is excellent news for small and medium sized businesses across the UK. |
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