2010 - May
Accounting procedures for joint ventures
Increasingly, companies are using joint ventures to tackle larger, more complex projects. But before your company enters into a joint venture, you need to ensure that both parties agree on how to account for it. What’s involved?
You prepare monthly management reports, but in fast moving times how can you deliver key financial indicators quickly so that your board can make critical decisions in a flash?
Take a look at digital transfer systems?
You’ve recently been told that digital transfer systems are not only fast, efficient methods of dealing with traditional paper forms but could save your business a significant amount of money too. Is this really the case?
Electric vehicles are still some way off from being commercially viable. The next best “green” option at the moment are eco versions of standard vehicles. But do they really save you money on fuel?
How long does it take a bank to add a signatory?
You’ve decided that it would make your life easier if your accounts assistant could also deal with the bank, i.e. sign cheques, make online payments etc. Exactly how easy is it to set all this up?
As an FC, you often have to compare two lists to find data that appears on one but not on the other. It’s a tedious task if there are many entries and/or several months to compare. Could Excel help you perform this type of task faster?
We are facing a very uncertain economic future. What can you do to minimise your company’s exposure to the continuing impact of the financial crisis?
Bonuses, are they rewards or incentives?
You’ve been asked to look at setting up a company bonus scheme. How do you structure such a scheme to ensure that the company gets best value for money and the desired employee behaviours it is expecting?
Chances are you’ve cut back on overnight stays and a jolly or two abroad. However, with the summer season upon us you might take the opportunity to go to that conference after all. How could the Taxman convince you?
What are we spending our cash on?
You are going on a well-earned holiday later this month. However, the board is worried that the company might run out of cash in your absence or fail to pay suppliers. How can you set their minds at ease?
Have you always dreamed of learning to play a musical instrument? Or would you like to make your children ready for music school? Here are some websites that can help you.
Are you the webmaster for a website? Why not place a forum or bulletin board on your site. This keeps visitors, customers and/or members on your site for longer. How do you go about setting one up?
Free multimedia material for your website
Images or even videos can give your site or blog that extra touch. However, you can’t just pluck multimedia files from other sites and use them. Fortunately, there are sites offering copyright-free material free of charge.
Could you lend me your computer?
Desktop or laptop computers are basically for personal use. However, at times it can be useful to use your friend’s or colleague’s computer, for example for printing or for making backups.
Better surfing on your smartphone
Smartphones are equipped with a standard Web browser. However, in most cases you can also install other mobile browsers. What do these have to offer, and where do you find them?
What to expect from Office 2010
Microsoft traditionally releases a new version of its popular Office suite every three to four years, so right on cue Office 2010 will be available soon. What can we expect?
CRM tools for good customer management
Where would you be without your customers? It’s therefore crucial to maintain good relations with them. How can you achieve this, and which “customer relationship management” tools can help you?
Well organised e-mail conversations thanks to Shareflow
E-mail discussions involving several people tend to become hard to follow: important messages disappear in the crowd, and you’ll be quickly wondering who said what. Zenbe Shareflow offers a solution.
Social networks have become part and parcel of modern life, and online office services are also becoming commonplace. The new Docs.com claims that it combines the best of both worlds. Does it?
Sharing large files efficiently
At times you may have to share huge files with others, maybe up to hundreds of megabytes if they’re photos or videos. Here are some online services which allow you to do this.
Rising from the ashes of Borders, Books etc. offers another way of buying (and selling) books online. We check if good alternatives to Amazon really do exist?
The economic crisis has caused a spate of Venture Capital Trust (VCT) mergers. One of our subscribers was caught up in one of these and is worried that it will lead to the claw back of tax relief. Where does he stand with the Taxman?
Sell your assets before it’s too late!
In his recent speech, the new Chancellor has hinted at what’s to come in his emergency Budget. An increase in Capital Gains Tax is certain, but can you escape the rise by selling now, or is it already too late?
What can an EFURBS do for you and your company?
The ever changing and increasingly restrictive tax rules on pension contributions has meant many are turning to EFURBS as an alternative. They don’t offer the same tax advantages as approved pension funds, so are they worth considering?
The Taxman has just published his tax “toolkit” on capital allowances. It’s intended to help you avoid mistakes when preparing your accounts and tax return. How should you use it and does it actually include any useful tips?
Choosing not to pay tax on a benefit
You’re completing Forms P11D for 2009/10 and realise that the car you bought your son using the company bank account is going to cost you a fortune in tax and NI. Is it too late to dodge these?
The EU Advocate General recently gave his decision on whether employers are liable to account for VAT on supplies they make to their employees. It could cost UK employers an estimated £100 million a year. What’s the full story?
The Taxman’s NI and PAYE Service (NPS) has just been upgraded. As a result, you might receive an automated tax bill, but can you trust it?
When is a director’s salary taxable?
A subscriber devised a scheme to delay paying tax and NI on his salary, but as you would expect, it came under attack from the Taxman. Unfortunately, our subscriber lost the battle, but is there a way he can still come out on top?
Should your company have a Facebook page?
Love it or loath it, the social networking site Facebook certainly gets people talking. As a result, many corporates host their own “fan page” or profile. But are there any legal issues to consider if the directors want to do this too?
Is there a tax incentive to train?
The government’s incentive scheme for companies to employ apprentices ended a few weeks ago. But hidden in the tax system is something that might fill the gap. Is it something your company can take advantage of?
New directors’ duties for fire safety compliance?
A colleague has heard that there are some new fire safety regulations which impose additional duties on the directors. They’ve asked you to look into this and report back to the board urgently. So what should you tell them?
HMRC and Companies House combine
In another step towards joined-up government, the Taxman has teamed up with Companies House to introduce joint filing procedures for company accounts. When and how will this affect you and your company?
The countdown has begun to the coalition government’s first Budget which is set for June 22. There could be some radical changes; how might it affect directors?
Preparing for an in-house mediation session
Many workplace disputes are ideally suited to in-house mediation. With careful preparation, problems can easily be resolved, thus avoiding the need for a costly consultant. But what key points can help in the run-up to the session itself?
Flexible working requests made during interviews
During an interview a woman asks about a flexible working arrangement from day one as she has a young child. Her statutory right only kicks in at 26 weeks so you can refuse. But why should you avoid making a note of her query?
Employee found sleeping on the job
One of our subscribers recently found an employee asleep in the toilets when he should have been working. They want to bring disciplinary action, but the member of staff says he was feeling unwell. How should they play it?
When religion conflicts with working hours
Employers must not discriminate against employees on the grounds of their religion or belief. But, as with a recent incident that involved a Muslim bus driver, what happens if faith gets in the way of running your business?
Can you get a poor performer out more quickly?
Due to poor performance in the polls, it was soon suggested that Gordon Brown “step down” as Prime Minister. You can’t demand a resignation, but can you put anything in your contracts that might help you end things more quickly?
IVF treatment and excessive time off
A pregnant woman can never be disciplined for taking time off to attend her ante-natal appointments. But if she’s undergoing IVF treatment, does she have the same level of protection? What’s the latest in this area?
You know that a lot of sickness absence isn’t genuine. But did you also know that the fit note an employee provides could be a fake? What’s to know?
Reported to the HSE by their insurer
A disgruntled subscriber has informed us that their insurer reported them to the HSE which resulted in an inspector being sent to their site. Why did this happen, and how can you prevent a similar situation?
Artificial optical radiation regulations
The new Control of Artificial Optical Radiation at Work Regulations 2010 came into force on April 27 2010. Do they include anything that you should be worried about, and, if so, what might you need to do to comply?
HSE expectations for machinery maintenance
Our mole at the HSE has given us the low-down on what an inspector will want to see with regard to machinery maintenance arrangements. What did he tell us and what steps should you take following his advice?
What does the “tracking back” process involve?
You’ve heard that following an accident, or even during a general inspection, an inspector can go through the “tracking back” procedure. Why are they doing this, what does it involve and how might it affect you?
An attempt was recently made to introduce additional health and safety legislation to impose strict liability on directors. However, as we predicted, it failed. So what does this mean for directors - are they off the hook?
New mobile crane guidance produced
The Construction Plant-hire Association has produced new guidance material which covers operating a mobile crane in windy conditions. What’s the legal status of this material and what impact will it have on crane use?
GPs are now issuing “fit notes” to get sick staff back into the workplace. Will these create any safety issues, and if so, how should you deal with them?
Tax legislation contains some complex rules intended to stop you avoiding tax by shifting income or assets to your family. But there’s one area in which this is positively encouraged. What is it?
Watch out when deregistering for VAT
The difficult trading conditions over the last couple of years have hit small businesses particularly hard. Some have fallen below the VAT deregistration threshold. What do you need to consider before deregistering?
Are you safe from a P11D penalty?
One of our subscribers was threatened with an £18,000 penalty for including the wrong figures for expenses payments on Forms P11D. What was the problem, and how exactly did he escape the wrath of the Taxman?
Is sharing profit with your company liable to PAYE?
This recent case considered whether a director can enter into a deal with their own company and walk away with a share of the profits without it being taxed as employment income. What was the outcome?
Reducing the tax cost of selling a company
Where your company sells its investment in another, the Taxman will often treat any profit made on the deal as tax-exempt. But if this doesn’t apply, there may still be a way to dodge a tax bill; what is it?
If you’re planning to sell your company, entrepreneurs’ relief can cut your Capital Gains Tax rate to 10%. But if you’re holding a great deal of cash in the company, you could lose this valuable relief. What preventive steps can you take?
The Taxman has recently issued a warning to employers to be vigilant over NI deductions for female employees; why?
Personal liability over intellectual property rights
Following a recent case, the board is concerned that the directors could be personally liable if the company is ever accused of infringing a third party’s copyright. How can you reassure them?
The right way to get struck off
If you’re a director of a company that no longer trades, you can keep it ticking over as a dormant company, but that involves paperwork and expense. So should you liquidate the company or just strike it off?
Will the Equality Act 2010 be fair on directors?
It’s taken nearly three years to become law, but from October 1 2010 companies will have to follow the new Equality Act. It’s supposed to make life easier for employees, but what about directors?
Where you invest in your own company and the worst happens, making your shares worthless, you would expect your claim for loss relief to be given without question. But as a recent case shows, the Taxman has other ideas. What’s the story?
Sold their souls in the terms and conditions
New research has discovered that 100% of customers never read terms and conditions (T&Cs) after 7,500 all agreed to “forfeit their souls” in one day! So does this mean that the directors are obliged to make the company’s terms much clearer?
Pension premiums - who should pay them?
Tax planning doesn’t have to be complex to be worthwhile. In fact, the simpler the scheme, the less there is to go wrong. So why are thousands of directors not taking advantage of company pension contributions?
Any rights for a cancelled flight?
The way insurers refused to pay out following the volcanic ash problem has left you worried about your next business trips. So what are your rights?
Are your staff challenging visitors?
Every employer is concerned about security and will want to ensure that “uninvited visitors” don’t walk around unchallenged. So why should you get staff on-board with this process and how do they go about it?
The true cost of online gambling
It’s estimated that the online gambling industry rakes in £10 billion per year and that 75% of employees regularly have a flutter during working hours. But it’s a safe bet that those who do are also wasting your time. So what can you do?
Solving the first fit note problem
One of our subscribers has just encountered their first fit note. But they can’t implement the GP’s recommendations. So they’ve asked us to explain what happens in this situation and if there is anything else they could do.
Must an employer help with childcare?
A single mother recently took the Army to tribunal claiming that it had failed to assist with necessary childcare arrangements. She won her case. So does this mean you must provide them, or did this employer make a very big mistake?
I can’t come in today.... a volcano has erupted!
It’s usual for adverse weather conditions to cause employees to cry off work. But it’s estimated that 500,000+ were stranded when our airspace was shut following a volcanic eruption. An original “excuse”, but do they get paid?
Fairly sacked for contacting the paper
An employee took a dislike to some of your decisions, so they complained about you to the local paper and it printed their letter! They’re now saying that this is a “protected disclosure” and you can’t sack them. Are they on solid ground?
Say “hello” to the Equality Act 2010
After much debate, the Equality Act 2010 will start coming into force from October 1. So what does this legislation do and is it good news for employers?
The HSE is currently having a big push on Liquified Petroleum Gas (LPG) safety. Its main focus is on fixed installations, but inspectors will be looking at portable cylinder storage too. So how should you be storing them on your site?
Don’t use the wrong attachment
The HSE has recently issued a safety alert concerning the safe use of certain grounds maintenance equipment. Why has it been published and what can be learned from it?
Set out your policy on risk assessment
Having a simple risk assessment policy will not only help you to keep on top of the process, but it will tick some legal boxes too. To make things easier, why not use our free sample document?
£30,000 fine for not having proper toilet facilities
A businessman has recently been fined £30,000 because he failed to ensure that his premises were equipped with clean and functioning toilet and welfare facilities. How did the case pan out?
According to recent research, many businesses have failed to complete a fire drill and train staff in their emergency arrangements. Why is this so important, and how should you organise it?
No safe system for unloading vehicles
Failure to ensure that safe systems of work were in place to accept deliveries resulted in the death of a worker and a prosecution. How did the accident happen and how might it have been prevented?
A recent project, known as WorkWell Dorset, has provided further evidence that the enforcement bodies are working together. How might this affect you?
Apple iPad: something to interest you?
The iPad, Apple’s tablet-like PC, recently hit the world news headlines. It will be launched over here in the near future. What exactly does the iPad have to offer and are there any alternatives?
What can Twitter mean for your business?
Do you think Twitter is just... twitter? Well, it can also be an efficient tool for improving contact with your customers. So how can it be used in a commercial environment as well?
Bringing your pictures to life
Watching dozens of pictures of your latest trip may not be as fascinating to others as it is to you. So why not turn your snapshots into a dynamic film and post the result online? Here are some tools which make this child’s play.