2007 - December
ISAs and other tax-free savings accounts are set for a shake up with effect from April 6 2008. What do you need to remember? And is there anything you should be doing with your existing investments?
You have been attracted by the interest rate on an offshore bank account. Can you invest and still remain invisible to the UK Taxman?
Switch to tax efficient letting
You have a holiday home, which you wish to keep in the family rather than sell. However, it will still take seven years before this gift is ignored for Inheritance Tax purposes. Is there a quicker way of doing this?
In certain circumstances you might end up paying for staff/directors to eat whilst at work. The problem is that the Taxman considers this to be a taxable benefit. However, there is a way to beat him. What’s involved?
January 31 2008 is the deadline for submitting 2006/7 tax returns. But don’t be surprised if, in January, you also get a letter asking you questions about your tax affairs for the previous year (2005/6). How should you respond?
If you buy an industrial or commercial building - whether to trade from yourself or let out - you should be able to claim Capital Allowances on plant and fixtures that are contained in it. How can you make sure you don’t lose out?
Resolving disputes with the VATman can be time consuming. One of the ways to focus his mind has been to lodge an appeal before a tribunal. However, things are about to change. What do you need to know?
One of the directors has suggested that a competition or some sort of prize draw could be a good way to increase sales and raise your company’s profile. Is this legal and, if so, what do you need to be aware of?
Like many directors, the company pays you a dividend from time to time, whenever the bank balance looks healthy. But in light of a recent case, is this enough? Is there anything you should be doing differently now?
You’ve heard that you could be liable if mobile staff access the Internet via someone else’s network. What’s the reality?
You’ve recently lost a member of staff. You’ve heard that by filling the vacancy with two part-timers you stand to make tax savings. Is this something your company could really take advantage of?
Your company is successful. However, to be able to expand it further you need additional cash, which you intend to raise by selling some shares. So how can you retain control?
Top five tips for your 2006/7 tax return
If you haven’t already filed your 2006/7 personal tax return there’s still plenty of time before the January 31 deadline. However, to avoid rejection what are the top five things you should be checking before you submit it?
Like most directors, you use your home phone to conduct business. The company meets all or part of the associated costs. What tax pitfalls need you be aware of in such a situation?
Managing chemicals in the office
It’s come to your attention that there are quite a few chemicals - albeit apparently low risk ones - appearing in your office. What, if anything, do you need to do to control these substances?
Was a dodgy ladder really to blame?
A recent case has highlighted that the enforcement bodies still haven’t lost interest in work at height, and in particular, the use of ladders. What prompted the HSE to take action in this case and how can you avoid a similar experience?
During the last few months, there’s been a succession of high profile fires, including one at the Olympic stadium site. What could this mean for your business?
What are you intending to do on our site?
If you’ve been asked to prepare a method statement for some forthcoming works, but you’re not 100% sure what should be included, why not use our pro forma to get you started and keep your document concise and useful?
‘Flu, colds, sickness bugs etc. are rife at this time of year, and if you’re not careful, you may have someone distributing germs to their colleagues. How should you deal with staff who may be under the weather?
Loading and unloading vehicles safely
In our final look at the HSE’s Moving Goods Safely (MGS) campaign, we’re focusing on the manual handling issues faced by delivery drivers. What are they and how should you go about addressing them?
Is Six Sigma something you should follow?
A colleague has informed you that they are following the principles of Six Sigma to improve health and safety standards. What does this involve and is it something that you might want to consider?
If you’d like your friends to be able to listen to your favourite music without engaging in the potentially illegal exchange of music files, you should consider creating an online playlist.
Everyone would welcome online applications that improved the efficiency of their business. Well, here’s a new selection of productive services.
Regular backups of your important files are a must. How do you make the back-up procedure more efficient and what is the best software to use?
Suppose you want to watch a video which you stream from the Internet or which you’ve downloaded, but your media player refuses to play the clip correctly, if at all. What can you do?
Gmail has been offering an IMAP option for a while now. What are the advantages? And how do you configure your e-mail program?
With 2008 drawing rapidly near, you may be looking for a new desk or wall calendar. Here are some services for designing personal, tailor-made calendars.
If you’re planning on sending lots of greetings cards during the Christmas period, you might want to consider using an online program. The only thing you need is a browser: it’s fast, cheap and efficient.
At times, it may be difficult for your website visitors to find their way to the page they’re looking for, even if your site has a clear structure. A search field enables visitors to explore your entire site. How do you create such a function?
Christmas is a stressful time of year, but the Web can maker it easier. We look at some handy sites that’ll help you with fun, food ‘n drink and pressies.
Start the new year with a new qualification
It’s close to the start of a new year and maybe you’re thinking about getting some more qualifications. But you can’t afford to go back to college or take a lot of time off work. Why not consider online courses?
You know that an employee must set out the basis of any grievance before you deal with it, but what does this mean in practice? What further details must the employee provide to comply with the statutory grievance procedure?
You suspect that confidential information is being leaked to the local press. Although you’ve a good idea who is responsible, you have no definite proof. How can you lawfully find out who is the culprit and what’s being leaked?
When it comes to employment contracts, you naturally want flexibility so that if business reasons require contract terms to be varied, you can do this without facing a constructive dismissal claim. What’s the best way to achieve this?
In terms of discrimination on the grounds of religious belief, there has been much uncertainty over how far your right to set rules on appearance and the wearing of religious symbols etc. can go. What’s the latest legal thinking on this?
Until recently, all age discrimination cases had been won by older workers, but this has now changed. What’s the latest to be aware of?
You recently offered a management position to a good candidate, but he failed to respond to it. You’ve now offered it to someone else; so what’s your position, especially if your original candidate still wants the job?
Whatever tinkering the Chancellor feels compelled to make to his Capital Gains Tax plans, a flat tax rate of 18% looks set to come in next year. How can you use current and future rules to your advantage?
Pay a pension, get tax credits
A colleague says their advisor has told them to make lump sum pension contributions in 2007/8, to maximise their tax credit claims for the next two years. Is this something you could be taking advantage of?
If, as part of an enquiry into your business, the Taxman asks for a copy of your data files, what should your answer be?
Business is booming and you need to take on extra staff to cope with demand. Do you need to put your seasonal helpers through your payroll if you pay them less than £100 a week?
With the Christmas break coming up, what action should you be taking now to help with any January 31 income tax payment that’s due? Here are our tips to help deal with your New Year’s gift to the Taxman.
Your local team is doing well so your company is thinking about hiring a box at a football club to entertain customers. What are the main tax issues surrounding the cost of doing this?
You’ve made an entry on your VAT return in good faith. However, it now turns out that you were charged VAT by a supplier who had, in fact, already been de-registered. Could this be a problem for you?
You’ll know that in recent years, pregnant workers have seen their rights beefed up. But are directors toeing the line?
You own an income-generating property. Is it possible to divert some of the income to your spouse as they pay tax at a lower rate, even though they’re not a joint owner? What’s the most effective way to beat the Taxman?
You strongly suspect that an employee drives a minicab at night to earn extra cash. He looks tired and you’re worried about your potential liability for an accident caused by fatigue. What should you do?
The Taxman has just launched an investigation into your affairs. You don’t have the stomach for a fight and are tempted to give in immediately (exactly what he wants!). Why not stand your ground and refer it to the Commissioners?
The worth of an offshore account
Every successful director likes to think that an offshore account is a glamorous way to beat the Taxman. But is there really any truth in this? Is there still money to be made by going offshore?
A health and safety inspector paid your premises a visit and started asking you all sorts of questions, which you couldn’t answer. Just how much knowledge of health and safety matters should directors really have?
As part of the forthcoming Moving Goods Safely campaign, inspectors will be looking at working at height on vehicles. What’s prompted this, and what, if anything, should you be doing to protect your staff?
Cutting budgets = saving money?
You’ve been looking at your budget for 2008 and have decided to reduce the amount of money you’re spending on maintenance and health and safety issues. Is this really a wise choice?
Your home isn’t safe - back to the office
One of your senior regional managers is now home based, so they can minimise travel between sites. However, when you stated that you needed to risk assess their house, your offer was politely declined. Should you insist?
The HSC has just published its guide showing how health and safety issues should figure at board level. What does it cover and is it worth following?
Two companies have recently been fined a total of £200,000 following the death of a nine-year-old girl. How did the accident happen and what steps, if any, should you be taking to avoid something similar taking place on your site?
One year on from the introduction of the Regulatory Reform (Fire Safety) Order 2005, there is still much confusion surrounding the role of the responsible person. Who, or even what, should fulfil this role in your business?
A new job requires a small amount of welding. In the past you’ve contracted this out, but now you want to do it in-house. However, you’ve heard that you need a full forced extraction system for the fumes. Is this really the case?
You’ve been contacted by a number of suppliers offering a mains-fed filtered water system, which - according to them - is the greenest and cheapest option for water in your workplace. Is this strictly true?
Are you going to cause problems?
You already assess how competent your contractors are with regards to health and safety compliance, and now you’re considering adding some questions about environmental matters. Is this a worthwhile exercise?
How responsible is your business?
Amongst the many requests you receive from clients for information about your business, the latest is for a corporate social responsibility policy. What’s this all about and do you really need one?
Many organisations have fallen foul of the advertising standards watchdog, following dodgy “green” claims. How can you avoid a similar fate?
Are all EA inspectors the same?
You’ve been under the impression that all inspectors from the Environment Agency (EA) have the same skills and knowledge, so that they can tackle all aspects of environmental management. But is this really the case?
Don’t be wasteful this Christmas
Should you ditch the normal Christmas gifts you give your staff and offset a tonne of carbon on their behalf instead? Surely they’d be delighted? Or are there better ways of ensuring you’re doing your bit for the environment this Christmas?
You may think that the new Waste Electrical and Electronic Equipment (WEEE) Regulations will have little impact on your bottom line. But if you don’t keep track of your equipment it could to cost you. What are the implications?