2006 - May
You know that there is more input VAT to claim for this VAT return but you haven’t got all the paperwork in yet. Do you have to wait until your next VAT return to claim this, or is there a way to get the VAT back now?
As a landlord, you’re able to offset property-related expenditure against the gross rents you receive. However, does this include the cost of any bills incurred when the property is vacant?
Whilst getting your mountain bike out of the shed for the first time this year you thought about a top of the range bike rack system for your company car. What’s the best way of doing this?
Could one of your legitimate business transactions be classed as solely for tax avoidance purposes and so penalised by the VATman?
In recent TV commercials the Taxman has stepped up his campaign to encourage individuals to report their suspicions of tax evasion. Does this mean he will now be taking more notice of informants?
How to avoid IHT and preserve your wealth
It’s a classic dilemma. How can you give away your capital to avoid Inheritance Tax, but ensure that it isn’t frittered away? Here’s one way to do this without the use of a trust.
One of our informants tells us that the Taxman is withdrawing his own staff suggestion scheme. However, is there still an opportunity here for you? And if so, how can you take full advantage?
Choosing tax-efficient marketing
It’s not difficult to spend thousands of pounds on marketing to potential customers. But did you know that the type of mailshot you choose could affect the amount of VAT you pay for printing? What do you need to know?
Pay my bill? Try me again in three months!
According to recent figures, large companies now take an average of 80.6 days to pay their bills - even longer than before the late payment legislation was introduced. What can you do to make sure you get paid promptly?
One of your fellow shareholder directors has decided to leave the company and they want you to buy them out. If you can’t put up the money yourself, what are your options?
You’re in the process of buying another company to expand your business. However, you’re concerned that the seller might have made their business look better than it really is. How can you buy yourself some protection?
Reduce costs with free software
Buying the correct number of software licences represents a major expense for many companies. However, you’ve heard that you can reduce your company’s costs by using free software instead. But can it be any good if it’s free?
In spite of your best efforts, a customer succeeded in his small claims court action against you. You know you did nothing wrong so should you appeal the decision and if so, what’s involved?
Some of your workforce have asked if they can use barrier creams instead of wearing gloves. Do protective creams offer sufficient protection levels without compromising safety and incurring extra costs?
Keeping cool, calm & collected!
It’s getting to that time of year again. The first sign of the sun, and your staff change their complaints from “it’s cold in here”, to “I’m too hot to work”. If you’re getting the “I can’t win” feeling, what can you do to appease your staff?
A serious scaffold collapse has prompted a major investigation by the HSE. Will it stop with this case, or is it likely to have a greater impact?
The Colonel’s recipe for disaster
KFC’s failure to manage slips and trips in one of their restaurants resulted in two of their staff suffering extremely nasty burns and the chain being prosecuted. What’s different about this case, and what can you learn from it?
Your fire equipment supplier has told you that you’re likely to need more extinguishers to comply with the impending fire legislation. Is this actually the case, or are they just trying to sell more extinguishers?
As the Noise at Work Regulations 2005 came into force in April 2006, you should ensure that any policy you have is updated to reflect the changes. If you need some help with this, why not use our sample noise at work policy?
One of your members of staff has just told you that they’ve taken a second job in the evenings. They said it’s only bar work and won’t interfere with their day job. Should you be concerned? If so, can you do anything about it?
You’ll know that under the statutory grievance procedures you have to set up a meeting once you’ve received a grievance letter. But should you treat other communications, such as a request for flexible working, as a grievance too?
The reluctant advocate - part 2
In issue 5 we looked at how to prepare yourself for a tribunal hearing. Here we consider the questioning skills needed to get your case across and put your opponent under pressure. What’s the winning secret?
The World Cup kicks off on June 9 and runs for a month. What should you do about employees who phone in sick or fail to turn up on match days?
Whilst your procedures include the right to dismiss for gross misconduct, you’d like to have the option of demoting an employee instead. Following case law is this possible and if so, how do you provide for it?
As the key player in the company, you’re the principal income generator. Although you enjoy good health, you’re concerned about how you’d pay the bills if you suffered an illness or injury. What are the options?
Price increases - are they legal?
Out of the blue, a longstanding and regular supplier has just informed the company that they’re increasing their prices by 20%. Can they get away with this or is it just a try-on which you can safely ignore?
Premium credit cards - are they worth it?
You want your plastic to reflect your status as a successful company director. But with gold and platinum cards now so commonplace and no longer exclusive, what are your options?
The 2005/6 P11D season is upon us and for most the biggest number on the form relates to the company car. What lessons can be learned from recent Taxman visits which have targeted company car benefits?
Wholly and exclusively, of course
You’ve incurred some expenses partly for business and partly for personal reasons. Exactly how much will be allowed for tax? The Taxman’s view is contained in his “duality of purpose” doctrine. What do you need to know?
Higher tax credits for directors!
Following adverse publicity caused by tax credit overpayments, new measures have been brought into force for the 2006/7 tax year. These give some serious tax planning opportunities to directors - what do you need to know?
It’s time to sign your company’s Corporation Tax return for submission to the Taxman. Unfortunately, you could end up paying a penalty if his computer rejects it. So what simple steps can you take to avoid this?
You must submit your 2005/6 P35 and P14s by May 19. What final advice is there for those just about to complete them?
The 2005/6 tax year ended on April 5, 2006, which means that personal tax return season has already started. Is there any advantage in submitting a return before the statutory deadlines?
Even the VATman recognises that bad debts are an inescapable part of business life. But at what stage does he allow you to get the VAT back you’ve already paid on the debt?
If you have young children a large portion of your family income may disappear in childcare fees. You’ve probably heard of childcare vouchers but how much profit can you extract from your company this way?
Closed down sale on computers?
Since April 6, 2006, the tax benefits of providing directors and employees with a computer have changed. What do you need to know?
Don’t take protection for granted
According to the Patent Office, 70% of UK directors are putting their company’s intellectual property at risk when entering into deals with other businesses. What are those risks and how should they be managed?
You’re concerned that some of your staff fail to take the health risks associated with lubricant oils seriously. How can you get the message across and who’s liable in the event of them suffering from a skin complaint, or worse?
I’m not using that it isn’t safe!
One of your employees had an accident whilst using a machine and his colleagues are now refusing to use it. How can you persuade them the machine is safe and get your production back on-line with minimal impact?
As you know, a workplace smoking ban is planned for England and Northern Ireland in 2007. Whilst this is good news for employee health, is it good news for fire safety?
HM Revenue & Customs have had to pay up following one of their workforce suffering such severe stress and depression that it ended his career. How can you spot the signs of stress and prevent this happening in your business?
One of your forklift drivers has expressed an interest in becoming a trainer. He claims that if you pay for his training you’ll save a fortune in external trainer fees. Is this such a good deal for you and are there really any savings to be made?
You’ve employed a contractor to dig some footings for a new chemical store. You’ve heard about the dangers of underground services but your contractor doesn’t seem bothered. Should he be, if so what are the implications for you?
Your cleaners and maintenance staff are supposed to use signs to indicate areas where their work may present a temporary hazard. They often forget, and even when they are used, they’re ignored. So what can you do about it?
As you may be aware, there’s been much debate in the UK courts as to whether it’s legal to pay employees rolled-up holiday pay. The European Court of Justice has just decided on the issue once and for all. What’s the final decision?
The limits of job descriptions…
When reorganising employees’ work, you’re entitled to change job their descriptions. But how far can you really go? What happens when employees challenge your right to require flexibility from them?
The best from informal warnings
As the formal disciplinary process can be fraught with danger, making the most of informal warnings makes good sense. How can you take full advantage?
Recruiting staff can be a hazardous and expensive business at the best of times. There is, however, another risk which, for the unwary employer can be a real nightmare. How do you deal with bogus applications?
You’re in the process of making a position redundant. You’ve heard that you’re supposed to offer the affected employee “suitable alternative employment.” But what does this really mean?
Genuine grievance, or a whinge?
You’re going to introduce a new grievance procedure. How can you distinguish between genuine (legally recognised) grievances and petty grumbles, and how should they be dealt with?
On April 6, the Commission for Racial Equality (CRE) published a new code of practice on equality in employment. How might following it help you defend a discrimination claim?