2008 - July
With the summer break looming, what action should you be taking now to help with any July 31 income tax payments that are due? Here are our tips to help deal with your sunny gift to the Taxman.
You’ll have to write to head office
The VAT receipt you have just been handed does not seem to contain much information. When challenged, the cashier says that a full invoice can only be provided by head office. Is it a problem if it never arrives?
Do you have to pay 40p a mile?
You pay a mileage rate to employees who use their own car for business journeys. Although the maximum official tax-free rate for doing this is 40p per mile, do you have to pay them this much?
Paying your 2008 Corporation Tax bill
The accounts for your company’s last financial year show a healthy profit. However, there might not be enough money in the bank to pay the Taxman his cut of things when that time comes. What can you do about this?
The desk fans in the office won’t do the job of keeping you cool this summer. What can your company do to make your life more comfortable?
Claiming more expenses reduces your company’s tax bill. However, this also deflates the profit figure you might want to show to third parties. Is it possible for expenses to be treated differently for accounting and tax purposes?
What rate of interest can he charge?
In closing down an enquiry into your accounts/tax return you or your advisor might need to agree a settlement figure with the Taxman. As part of this, can he use any rate of interest that pleases him?
Your company wants to send some promotional gifts to potential customers. Trouble is, you’re not interested in the usual pens and calendars. You’d like to give iPods instead. Will the Taxman let you?
Where’s the rest of the money?
With the credit crunch starting to bite, you’re concerned that customers might struggle to settle your invoices in full. So what’s your position if they try and offer less, “in full and final settlement”?
Giving the Taxman the runaround
Your accountant has just told you how much extra car benefit you’re paying. However, it’s actually your spouse that uses it for private purposes. Can you save tax by making the car a benefit-in-kind for her (or him)?
A major insurance company has recently gone public saying that almost half of all property owners under-insure their buildings. Is this simply scare mongering to get you to pay more, or something to be worried about?
You know that keeping documents secure for commercial and legal reasons extends to their eventual destruction. So what are the options and practical considerations you need to be aware of?
Music while you work is less than a big hit with employers as licence enforcement action shows no sign of abating. So do you need a licence or not?
Your company is fed up with the service (or lack of it) from one of its major suppliers. You’ve now lined up another supplier who seems to fit the bill. Can you simply walk away from the existing contract?
We’re back; have you improved?
HSE inspectors recently blitzed a number of construction and refurbishment sites. What prompted them to do this, and what did they find?
Risk assessment for clearing drains
In the past, you’ve employed a contractor to unblock drains, however, you now use a handyman for this type of work. So to ensure everything is completed safely and legally, why not use our sample risk assessment document?
Can we take our high-vis vests off please?
You recently carried out a personal protective equipment (PPE) compliance spot check. During your inspection it became apparent that many staff were ignoring the rule about high-visibility vests. How should you deal with this?
It’s been suggested that you should keep a diary of all the health and safety- related work you do. If this is going to be a worthwhile exercise what sort of information should be recorded, and in what format?
Coming to the wrong conclusions
When a member of staff cut their hand badly enough to prevent them from working for a few weeks, you decided that all open-bladed knives should be replaced with safety ones. Is this the right way to stop further accidents?
The dangers of using broken machinery
Medway Council has just been fined £75,000 following an accident in which a member of staff lost two fingers. How did it happen and what can you learn from this case?
You’ve employed a contractor to do some refurbishment works. One of their tasks is to cut into a concrete wall, however, this will cause lots of dust which could lead to health problems. How should the work be managed?
As legislation to combat Repetitive Strain Injury (RSI) has been in force for 15 years, it’s easy to assume that it’s no longer an issue. Yet according to research, it’s actually an increasingly costly problem. So what’s the latest news?
No work, no pay - the court says it’s fair
You’ve fully investigated an employee’s complaint of bullying and come up with an action plan to enable her to return to work in a temporary post. However, she refuses to accept this solution. Can you stop paying her?
The government recently announced plans to give workers the right to request time off for training. What’s the latest?
A subscriber currently offers occupational sick pay and is looking to cut costs. Is it possible to make its payment discretionary and if so, what type of issues must they consider in order to avoid any difficulties?
Care with grievance procedures
We’ve previously advised you of the need to follow grievance procedures closely. However, a recent Employment Appeal Tribunal case shows that there are times when you need to exercise some discretion. What’s the latest news?
It’s pretty much inevitable that at some stage you’ll need to vary an employee’s job duties. This will mean altering their contract of employment. What’s the best (and safest) way to do this?
Illegal working and unfair dismissal
You’ve employed a foreign worker whose work permit is about to expire. As you’re understandably worried about employing her illegally, you’re planning on letting her go. But is this as safe as it sounds?
Following recent reports of various UK companies becoming “non resident” by moving offshore, a colleague has said that they are going to do something similar to reduce their company’s tax bills. Are you missing out?
The new entrepreneurs’ relief can apply when you sell shares in your own company after April 5 2008. However, there is a trap concerning employees that could disqualify you. What is it and how can you avoid it?
Self-employed workers can be a PAYE time bomb if the Taxman later decides they should have been employees. How does the Taxman distinguish between the two and can you use this to your advantage?
The FT is recommending you should act now to protect your pension pot from high tax charges. Does this apply to you, and if it does, what should you do?
As you know, the Taxman is always keen to “disallow” your expenditure by saying the work is a replacement not a repair. New legislation has just moved the goalposts. What do you now need to do?
If you’ve made a company car available to an employee at “weekends only”, would this significantly reduce the taxable benefit-in-kind on that car? And would it help if the employee made a contribution to the cost of the car too?
Even the VATman recognises that bad debts are an inescapable part of business life. But at what stage in this current credit crunch will he allow you to get the VAT back on your bad debt customers?
Now the summer has arrived a few areas have become overgrown with weeds, so you’ve decided to get the weedkiller out and blast them. However, if you use chemicals, are there any precautions you need to take?
The Environment Agency (EA) is undertaking a complete review of the way it grants and regulates the various licences and permits it issues. Which ones in particular are changing and how might they affect your business?
The government frequently uses the environment as its justification for increasing taxes. What effect could this have on your business?
Fuel theft - the environmental implications
Recently, there’s been an increase in the number of oil and fuel thefts. What are the potential environmental impacts of this happening on your site and what, if anything, can you do to minimise the threat?
Are many businesses offsetting carbon?
Carbon offsetting is becoming increasingly popular. You’ve heard that any business that doesn’t do it is at risk of being left behind or, even worse, losing customers. Is this really the case?
Do you need to use the Carbon Trust?
You’re aware that you might qualify for a free energy saving survey from the Carbon Trust. Should you take them up even though you’ve heard that there’s little point and you might as well do it yourself?
Pre-treatment of waste, six months on
Although there’s been a duty to treat non-hazardous waste since October 2007, so far the Environment Agency (EA) has left businesses alone. However, now it’s decided to start checking up. What should you be doing?