2008 - December
Your mother gifted you £250K six years ago. She died recently and the Taxman is demanding the full amount of IHT on the gift. You were told that IHT was reduced on gifts made three years before death, so what’s going on?
The Chancellor has announced some changes to boost the economy. The most significant was a reduction in the VAT rate. How does this affect you?
You have substantial funds tied up in your company as share capital. Is there an easy way you can release some of this and make use of the cash in a tax effective way?
If your business goes under owing VAT and you want to start up a new venture, the Taxman may demand a security deposit before he will let you trade. But is he right to do so?
If you need some extra cash to survive the current downturn, you may be considering selling some antiques or jewellery. But will the Taxman take a big bite out of the sale proceeds?
Will the PBR make you a winner or loser?
What Mr Darling gave away in the Pre-Budget Report (PBR) will have to be paid for later. A VAT cut and accelerated increases in benefits were the headlines but what’s going on behind the scenes. Find out the full story!
When can a business expense be claimed?
It is usual practice when completing your tax return to claim business expenses on exactly the same figures as appear on your benefits and expenses return. Is this correct or could you be losing out?
In today’s economic climate you might get a better deal if you offer cash, rather than a credit card. But in doing so, you could be missing out on the protection of the Consumer Credit Act. How can this piece of legislation help you?
Look out for foreign bank charges
As the number of overseas transactions grows so does the scope for expensive payment errors. What should you look out for and how can you avoid these pitfalls in international trade?
As a successful director you’re looking for a safe haven for your cash.You’ve repeatedly been told to invest in gold. It sounds attractive but what are the options? What’s the safest and easiest way to make the investment?
How much will the PBR cost you?
Everyone knows that higher rates of tax are going up to pay for lower VAT. But what else was lurking in the small print that will cost you and your company?
You want to take a loan from your company to help ease cashflow problems. However, you’ve heard that things have changed since the introduction of the Companies Act. So what do you need to know to get your hands on the cash?
With electricity prices seemingly rising inexorably, their effect on your company’s bottom line can be dramatic. What can commercial users do to reduce the shock of such high prices?
If your health and safety policy doesn’t spell out what duties directors, managers and staff have regarding health and safety, you should revise it. To help, why not use our new organisational chart and role definition document?
Are photo-luminescent signs acceptable?
Your fire risk assessment indicates that your emergency signage and lighting needs improving. An option you’re considering is photo-luminescent signs, as it appears to be a cheap and effective solution. Is this really the case?
More sites than ever are now enforcing mandatory eye protection rules, believing that doing so will prevent eye injuries completely. Does this policy work and if so, is it one that you should consider adopting?
Are health and safety rules really responsible for Christmas festivities being cancelled? According to some reports they are. What’s going on?
Hearing protection in the office
One of your office staff has just demanded a pair of ear defenders. They said that they’ve tested the noise levels using their mobile phone and identified that they’re too high. How should you deal with this one?
Although a local authority had an asbestos survey carried out before starting refurbishment, asbestos was still exposed during the work. The authority had met its liabilities, but what about the surveying company?
Don’t pay more than you need to
A colleague has suggested that you’re paying well over the odds for the services of your health and safety consultant. They stated that, especially in the current economic climate, there are better deals out there. What should you do?
Have a cheaper Christmas online
‘Tis the season to be thrifty. Get the best deals on presents, food, drink and outings by researching and shopping on the Web.
Lateness and deductions from pay
An employee, who is far from being a good timekeeper, is 30 minutes late for the third time in a week. You tell them you’ve had enough of their poor timekeeping and that they will be docked half an hour’s pay. Can you do this?
iTunes has rapidly become the most popular music software for managing and playing music and for buying songs online. Here are three extras which make the program even more useful.
Compliance with the modified procedure
An employee who’s already left wants to claim constructive dismissal. They’ve sent a grievance letter under the modified procedure, but it doesn’t say what the basis of their complaint is. Can a recent case help you?
Unfair dismissal - don’t get it wrong
You’ve probably had to deal with a whole host of personnel-related problems over the years, and almost certainly play it by the book. However, even experienced employers can get it wrong. Here’s how it can happen.
Your employees receive a car users’ allowance, but there’s a clause that entitles you to vary the rates, without notice. When you reduce the rate, some staff claim breach of contract. What’s the likelihood of you winning the case?
Improper use of social networking sites by staff can harm your business, as Virgin Atlantic recently discovered. So what lessons can you learn?
Lose less time with your e-mail
Processing e-mail probably constitutes a major part of your daily job. Here are some practical tips that help you to do more in less time.
Google tools for improving your website
Google Analytics and Google Site Search - two services destined for the (professional) webmaster - have been equipped with several new possibilities. Let’s check them out.
If you operate a blog, some subscribers will probably keep track of your new posts via an RSS news feed. However, not everyone is familiar with RSS. Instead, you can offer them a subscription to your blog by e-mail. How does it work?
On your marks, get set, trolley...
Online grocery sales have overtaken sales of electronic items for the first time in Web history. With Xmas on the way, let’s visit the e-supermarkets.
When discussing an issue with colleagues or business partners via the telephone or by e-mail, it’s sometimes better to be able to visualise things, for instance using images or a sketch. Which online tools can help you?
Add-ons remain the major asset of the popular Firefox browser: they allow you to customise virtually all of its functions. Here’s another batch of useful add-ons.
Zoho Mail: a competitor for Gmail?
You will probably be familiar with Zoho as a free online office suite. A new addition is Zoho Mail, a possible alternative for Gmail or Hotmail. We check out how useful this new option is.
Suppose you wish to open a file, a video for example, on your smartphone but the “format” isn’t recognised. Fortunately, there are various tools and online services which can convert all kinds of files.
PAYE credit for personal tax paid by employees
If you made a mistake and didn’t take enough PAYE tax and NI from your employee, the Taxman was allowed to claim the shortfall from you. But now this could be a thing of the past. So what’s changed?
Making good IHT use of your income
You know that to save your beneficiaries from paying IHT it’s important to plan ahead. You can give away £3,000 every year without it creating a tax problem. But is there a way to give more and still get one over the Taxman?
Refund of tax on holiday homes
If your company owns a property abroad, this could lead to a tax bill. But the Taxman recently relaxed the rules, so can you take advantage of his largesse?
The last thing on your mind when you are going through a divorce will be the tax consequences. But let the salutary tale of one of our subscribers be a lesson that you ignore the Taxman at your own risk. So what’s the story?
VAT saving on property development
Until recently, property development was seen as a good investment. But now many developers have houses they can’t sell and have resorted to renting them out. But this can lead to a VAT trap. What is it, and how can it be avoided?
Is the provision of clothing taxable?
A number of our subscribers have asked what the tax consequences are if they provide clothing to their company directors and employees. If there are benefit- in-kind tax and NI charges, how can these be reduced or avoided?
Taxed for using your own money
You lent your company money to help when it first started trading. Recently you needed some of it back and the Taxman is now claiming that you and the company owe tax as a consequence. How should you respond to this?
Simple ways to improve cash flow
In these difficult times, it’s often said that cash is king. Yet how can you keep the cash flowing when customers use a variety of excuses not to pay? Following these simple steps should help.
Since the introduction of the Regulatory Reform (Fire Safety) Order 2005 in April 2006, the role of the fire service has changed. So what does this mean for you and your company?
You signed up to have your waste removed. But now the waste disposal company say they won’t collect any more skips on health and safety grounds. They’ll only resume the service if you pay more! What can you do?
Several of the traditional ways of avoiding Inheritance Tax (IHT) are coming under the Taxman’s scrutiny. If you’ve used gifts or loans etc. to help save tax in the past, what does the future hold?
Due to the credit crunch, you want to cut costs; a colleague mentioned reviewing your sickness absence policy as a way of doing this. What are the key non-contractual areas that you could tighten up on?
On October 1 three new directors’ duties took effect. What do you need to know to ensure you and your company are compliant with them?
Is it worth having a full survey?
The company’s buying new commercial premises on which its commissioned a full structural survey. Can you really rely on its contents - how much protection will it actually buy you?
Changes to groundwater regulations
The Groundwater Regulations 1998 have been amended so that the UK complies with the EU Water Framework Directive. What’s changed and which business sectors in particular will be affected?
The government has announced plans to create six zero waste zones across the country. What’s the idea behind them and is taking part obligatory?
Is now the time for an environmental professional?
According to the Institute of Environmental Management and Assessment (IEMA), now is the time to invest in an environmental professional, apparently to survive impending recession and keep up with the law. Is this necessary?
Early lessons from corporate manslaughter cases
If you were under the impression that the police wouldn’t use their full powers to secure a conviction under corporate manslaughter legislation, think again. What have we uncovered?
A colleague has suggested that Environment Agency (EA) inspectors can offer good advice on compliance with environment-related legal issues. So should you get on the phone, or are things a bit more complicated than that?
New standard for carbon labelling launched
The government, the Carbon Trust and the British Standards Institution have come up with a new standard for assessing the carbon footprint of products and services. What is it, and should you consider getting involved?
The HSE and local authorities are really going to town with the latest asbestos campaign. What can you expect this time round?
According to a TUC report, safety concerns about working at a computer and the physical strains associated with DSE use are two of the three most worried about elements of working life. But just how a big an issue is this?
Some businesses are being informed that they need to get a Display Energy Certificate, not an Energy Performance Certificate. What’s the difference between the two and which one do you really need?
Although a scaffolding firm had a waste transfer licence in place which allowed it to handle waste, failure to abide by its terms and conditions landed the firm in court. What can you learn from this particular case?
An electrician lost his life when a cable he assumed to be isolated and safe was in fact carrying a current. What made him think that the cable posed no risk and how can you prevent a similar incident?
Are CSCS cards required by law?
Your staff have been turned away from a construction site because they don’t have Construction Skills Certification Scheme (CSCS) cards. Apparently, having them is now a legal requirement. Is this really the case?
Don’t fall over the coat stand
Surely a coat stand doesn’t present a significant health and safety hazard? According to one of your colleagues it does: apparently, it could block an escape route or cause potential slips and trips. Is this really the case?
Fire risk assessing empty premises
Due to a slowdown in orders you’ve decided to mothball one of your sites. However, you’ve heard that before you close the doors, you must carry out a new fire risk assessment. Is this really the case, and if so, why?