2006 - December
You’ve heard of a decision in a recent case that could be to your advantage. However, the Taxman says the facts don’t fit or it’s about the pre self-assessment regime. How might your advisor deal with this?
A colleague has told you that you should invest in shares via a fund and not directly. They reckon this will save you Capital Gains Tax (CGT) on any gains that you make. Is he right? What’s the full story here?
How do you reduce the value of an elderly taxpayer’s estate for Inheritance Tax (IHT) when the largest asset is their home? Converting it into an IHT-free asset without selling it is one solution. How does this work?
Losses versus Capital Allowances
With the abolition from April 2006 of the 0% rate for Corporation Tax (CT), what’s the latest advice on what you should do with any tax losses you might have brought forward in your company?
What if the VATman’s system fails?
Do you file your VAT returns online? Well if Lord Carter has his way we will all have to. OK, but what happens if the system lets you down?
If you haven’t filed your 2005/6 self-assessment tax return yet, you’ll soon be getting a reminder to submit it by January 31, 2007. Would providing additional information reduce the risk of an enquiry from the Taxman?
It seems that many company directors are being duped into changing electricity suppliers. How should you respond if the “regulator” approaches you?
You issue outdoor workers with fleece jackets and gloves. However, you’re finding that they don’t return them when they leave. As this is getting expensive, can you just deduct the cost from their final pay, and if not, what can you do?
Before your company started trading you incurred some expenditure, e.g. on office equipment. Can you now deduct these expenses and if so what sort of supporting evidence will the Taxman expect?
Pay less in full and final settlement?
If a customer sends a cheque for less than is owed, in “full and final settlement,” the advice has always been that you can claim the balance. But things have changed. How can you protect your company and take advantage?
You’d like to expand your company but to do so need a significant cash injection. If your bank is unwilling to lend a sufficient amount you’ve heard that the “EIS” may provide attractive tax breaks for investors. What’s involved?
Companies House is rejecting an increasing number of documents on “grounds of quality”. How can you make sure that the important form, set of accounts etc. that you need to file isn’t rejected?
What’s hiding under your workers’ desks?
Whilst completing a fire risk assessment one of our subscribers found electrical equipment they knew nothing about, e.g. mobile phone chargers, and aren’t sure what to do about it. What’s a sensible approach to the problem?
You’ve probably become familiar with the principles of risk assessment over the years but a colleague has told you about the “quantified approach”. What is it and is it something you should consider?
An exceptionally tall worker is suing Barclays Bank following a back injury. What’s going on and how can you avoid a similar situation?
A passenger lift in a shared occupancy building may well belong to the landlord but does the employer whose staff use it have any responsibilities? A recent personal injury case provided an answer that may surprise you!
It’s that time of the year when we often think about sharing a drink or two with work colleagues. Having a “swift half” in the local at lunchtime or an office party helps to foster team spirit. But does it lead to other problems?
Get your audiometrics in order
Since the introduction of new noise legislation, you’ve heard a lot about audiometric tests. What are they, who needs one and if you need to conduct them, how can you minimise the impact on your business?
A colleague has told you that if you report a serious accident to the HSE reporting centre you’ll be inspected. His advice is to avoid reporting at all costs. This doesn’t sound right. So what’s the situation?
Dealing with the office Lothario
Two employees, who were in a relationship at work, were once dismissed for “making an unauthorised use of a store cupboard”. But is it really necessary to dismiss people who form relationships at work?
Following the code religiously?
Recently, the press has been full of reports on the extent of an individual’s right to wear religious dress in the workplace. With the law still unclear, how should you approach this issue?
Refusing to work in dodgy countries
Increasingly, you may need staff to travel all over the world. But can you dismiss them if they refuse to work in a particular country due to perceived safety risks? What does recent case law say?
You’ve had problems getting an employee to attend a disciplinary hearing, but new evidence has now come to light. You don’t want to delay proceedings any further, so is it okay to give her half an hour to consider it and then proceed?
You need an employee to take over a new job. If it doesn’t work out and the job folds must they be offered their old position back?
Your budget for safety equipment is taking a hit as several staff keep losing gloves and face masks etc. You want to know if you can start charging them for this and if not, what you can do about it? What’s the best solution?
You might be surprised to learn that our inbox regularly receives queries on how to deal with unfortunate smelling employees. Not shy of a challenge, here’s our advice for a sweet-smelling workplace.
What’s the likelihood these days of receiving a visit from the VATman? Is it true that he can just turn up and demand what he wants? What exactly are your rights when it comes to his behaviour?
It’s the season of goodwill for 2006 so why not extend this to yourself, by taking an extra bonus or dividend? But which is best - is it always the case that one method is more tax-effective than the other?
A recent decision of the Special Commissioners showed how hard it can be to obtain tax relief for expenses connected with training courses. How can you increase your chances of getting a tax deduction?
The tax advantage of investment bonds is one of the tips for change in next spring’s Budget. Are there tax savings still to be had from this type of investment? If so, what, if anything, should you be doing about it?
Did your spouse receive a dividend from your company during the tax year 2005/6? If so, do you need to refer to it on your tax return?
Are the changes to the rate at which company vans are taxed from April 6, 2007, a problem or an opportunity? In particular, will it still be worth going for a pick-up rather than a 4x4?
A letter from the Taxman says you are under “full investigation” and asks for all business records to be handed over to him. Your first reaction might be to comply, but is there another way that better serves your interests?
You’re always interested in improving your bottom line but don’t want to reduce head count. Are there any other key areas you can identify immediately, and after that, how do you go on to consistently cut costs?
Need a little elf at Christmas?
You need some temporary staff to help you out during a busy time. If they happen to be members of your family how much can you pay them, tax-free?
You know that if any of your staff (or visitors) have an accident at work, it’s your neck that the authorities will attempt to place on the block. One way to help avoid liability is through documentation and notices. What do you need to know?
Paying for university tuition fees
A colleague has told you that he’s getting his company to pay his daughter’s university tuition fees this year and saving NI into the bargain. Is it really this simple? Surely there must be a catch?
Are you soft on software licensing?
One third of all software installed in this country isn’t legal. If your company falls into this category, as a director, you could have to carry the can personally. How can you tell if your PCs are legal what can you do to protect yourself?
A director has just resigned and you’re not about to replace him. Trouble is, there are still two years left to run on the lease on his Jag. What are your options? If you can’t get out of the lease, is there a way to write off the payments?
Employees with company vans are likely to come whingeing in January. Why? Once again the Taxman is stirring things up and leaving you to sort out the mess. What can you do now to avoid this hassle?
The TUC has recently published a report aimed at dispelling some popular safety myths. What did it identify and should you change your approach to safety management as a result?
A colleague has suggested that you need to make sure you’ve taken precautions to manage “human factors”. What are they, how should you deal with them and in what scenarios are the risks of something going wrong, the greatest?
A colleague has told you about a financial incentive scheme they set up to improve safety. You’re not convinced about the idea, as you can’t see the benefits. But is rewarding safety performance actually a good idea?
Although we’ve only had a few very cold days so far, a few subscribers have contacted us following staff complaints about workplace temperatures. What’s the legal position and how should you prepare for cold weather?
You’ve done a risk assessment which focuses on the significant safety risks in your workplace. However, it’s been suggested that it doesn’t address health issues. Does it need to, and if so what should it cover?
According to HSE statistics there have been fewer falls from height in the last year. But what else did the statistics highlight that could affect you?
One of our subscribers contacted us with a question regarding the use of a permit-to-work and whether there’s a standard format. So what are they, when should you use one and what should it look like?
Exploiting green marketing potential
You’ve decided to promote your products on their environmentally-friendly merits. However, a colleague has warned that what you say could have legal implications. If he’s right, how do you avoid any problems?
By having a green celebration this Christmas you can generate some good PR amongst staff and suppliers and save money. What’s involved?
You’ve had a visit from the Environment Agency. The inspector kept referring to “Source Protection Zones” or SPZs, but you didn’t have a clue what he meant. What are they and how might an SPZ affect your business?
Create your own energy - the green way
You’ve recently heard that there are alternative, environmentally-friendly methods of generating electricity called “microgeneration technologies”. What are they and how can they benefit both the environment and your business?
Fly tipping in the PM’s back yard?
You’ve heard about a crack-down by the Environment Agency and local authorities on fly tipping. Why are they doing this and what happened when a company was caught red-handed?
Environmentally-friendly shopping
A colleague has told you that his business has adopted a policy of buying green products wherever they can. He says there are real benefits in doing so. You’re not convinced. But is it actually worthwhile?
You’ve heard there’s a new government-funded van driver training scheme that claims to reduce accidents and improve fuel efficiency. What is it and how can your company benefit from it?