2011 -
July
PERSONNEL - 25.07.2011
Discrimination: (s)he’s got more shares than me!
A fellow director has heard about a recent Employment Appeal Tribunal ruling where a company “got away” with giving a male employee more share options than a comparable female member of staff. So can you safely do the same?
SCAMS - 25.07.2011
Unwanted texts: should you reply “STOP”?
Apparently, 95% of company mobile phones regularly receive unwanted text messages. To prevent them, some will invite you reply with “STOP” - but is this always a good idea? How can the directors know for sure?
BENEFITS - 25.07.2011
Who’s entitled to tax and NI-free benefits?
A subscriber’s company provides benefits-in-kind to his former spouse. While they were together he was taxed on these, but now they’re apart does he still have to pick up the tax bill?
DATA PROTECTION - 25.07.2011
£120,000 fine for e-mailing the wrong person!
Surrey County Council has just been fined £120,000 by the Information Commissioner’s Office after its staff mistakenly sent three e-mails containing personal data to the wrong recipients. Should the directors be worried?
DIRECTORS’ TAX - 25.07.2011
Do you need to correct your tax code?
The deadline for submitting your 2010/11 annual benefits and expenses return forms was July 6, which means the Taxman will soon be amending thousands of tax codes. Most of these will be wrong but should you bother putting him right?
DIRECTORS’ LIABILITY - 25.07.2011
Are you responsible for pension advice to employees?
It’s good practice to provide advice about your company’s pension scheme to your employees. But if they sign up for it and their investment goes bad, can you be held liable for their loss?
CONTRACTS - 25.07.2011
EC to tear up our contract rules?
It’s been reported that the EC wants to harmonise contract law across all member states. So will the directors have to learn a whole new regime?
VAT - 22.07.2011
Should you charge overseas customers VAT?
Last year the VAT rules for services supplied to overseas customers were changed, but certainly not simplified. One of our subscribers, who provides property services, wanted to know whether or not they should charge VAT?
NATIONAL INSURANCE - 22.07.2011
Are your employees paying too much NI?
Making irregular payments to your employees, such as bonuses, might result in some of these earnings escaping NI. Can this loophole be used to increase your workers’ take-home pay?
INHERITANCE TAX - 22.07.2011
Flexible pensions and tax planning
In April, the tax rates and rules changed in respect of money left in your pension fund when you die. This might leave your beneficiaries worse off. But could the new rules also offer a chance to save tax?
CARS - 22.07.2011
Avoiding a fuel scale charge
Recently, the tribunal considered whether a director owed tax on fuel paid for by his company. Given the facts, it seemed inevitable the case would go the Taxman’s way. What went wrong for the director and how can you avoid the same mistakes?
PROFIT EXTRACTION - 22.07.2011
Tax-efficient property improvements
Where your company pays for improvements to property which you own, this counts as a taxable benefit for you even if the business occupies and uses the building. How can you defer and possibly reduce the tax bill?
PAYE - 22.07.2011
RTI for every employer
Despite intense criticism, the Taxman is ploughing ahead with his Real Time Information (RTI) system. A firm timetable for its introduction has been announced. Should you be taking any action to prepare?
INVESTIGATIONS - 22.07.2011
The Taxman’s Internet spy
HMRC will use a “web robot” to search out traders who aren’t registered, and fine them. What steps should new businesses take to make sure they’re not penalised?
ENERGY - 05.07.2011
Unusual energy savings
You’ve been looking at cutting energy costs on equipment such as printers and monitors, but there are other electrical appliances in the office too. Are these also costing you unnecessary money?
DEBT RECOVERY - 05.07.2011
The last chance debtor
Customers will let you down and your own in-house collections team can only do so much chasing. Is there anything else you could be doing to increase the chances of seeing your money sooner rather than later?
FINANCIAL MANAGEMENT - 05.07.2011
What time is it?
As a financial controller, you’re used to the monthly cycle of reporting. However, it’s easy to forget that for many aspects of your business a monthly horizon is not relevant. How can you accommodate these different timescales?
RAISING FINANCE - 05.07.2011
Lease or buy?
Your company needs to buy some new equipment and your bank manager has mentioned asset-based financing. What should you be taking into account when deciding whether to purchase outright or lease?
MARKETING - 05.07.2011
Get online for free?
Registering a domain name and having a bespoke website built can cost hundreds if not thousands of pounds. However, a recent scheme could see your new site created in 20 minutes for free. What’s to know?
OFFICE COSTS - 05.07.2011
The paper chase
Paper can be costly, both financially and environmentally. Yet in spite of the increased use of technology, you’re still using loads of the stuff. Are the greenest options more expensive?
TRAVEL - 05.07.2011
Cut costs with video conferencing
Travelling to and from face-to-face meetings is increasingly being seen as a chore rather than a perk. So how can your staff continue to attend meetings and cut costs at the same time? Could video conferencing be the answer?
CREDIT CONTROL - 05.07.2011
Reverse factoring alternative?
With your larger customers trying to extend their payment terms to 60 or even 90 days, your cash flow is suffering. You’ve thought about factoring, but this is very expensive - is there a cheaper fast track to your cash?
SOFTWARE - 05.07.2011
The document inspector
Before you issue a document, you review its contents to ensure that it’s correct and doesn’t contain anything you don’t want to share. However, electronic copies can hold hidden or personal information. Do you know where to look?
CASH FLOW - 05.07.2011
Managing cash in a crisis
Your phone is ringing off the hook with irate suppliers, payroll is coming up and the managing director is pulling his hair out because your cash flow can’t take any more pressure. What do you do next?
CREDIT CONTROL - 05.07.2011
“Do you take cheques?”
The cheque guarantee scheme closed last month. If you currently take cheques as payment, is it now time to be looking for an alternative?
HMRC - 01.07.2011
The worth of a ruling
Many businesses are uncertain about their VAT affairs and need assistance, usually in the form of a written ruling from the VATman. What sort of service does he provide and is it worth the paper it’s written on?
FRAUD - 01.07.2011
Staff fraud. Who pays?
It’s bad enough finding out that a trusted member of staff or co-director has been stealing from the business. However, if VAT is involved the VATman will be after you for not only the missing tax but interest and penalties. What can you do?
PARTIAL EXEMPTION - 01.07.2011
Time for the PE exercise
If your business makes exempt supplies, you’ll have to make a partial exemption calculation each time you complete a VAT return. Once a year you have to do an annual adjustment as well - what’s involved?
REGISTRATION - 01.07.2011
The registration amnesty
The VATman’s crack team that considers potential risk areas is now honing in on unregistered businesses. What’s the deal?
DATA PROTECTION - 01.07.2011
Two employees fined £73,700 for breaching the DPA
Staff with access to your customers’ data may be tempted to use it for their own personal gain. So why not tell them about the two former T-Mobile employees who have just been prosecuted for doing this? What happened?
RECRUITMENT - 01.07.2011
Probation periods: don’t live to regret a new hire
Apparently, 88% of employers regret at least one recruitment decision they’ve made in the past twelve months. That means probation is more important than ever. How can these all-important trial periods help you?
DISCIPLINARY PROCEEDINGS - 01.07.2011
Dismissing on the evidence of one witness
There’s been an incident of serious misconduct which justifies dismissal. However, your case rests entirely on the evidence of one witness. So before proceeding what steps must you take to protect your position?
RELIGIOUS DISCRIMINATION - 01.07.2011
Workplace conflict: their faith, your business
It’s unlawful to discriminate against an employee on grounds of religion or belief. But what if the prayer requirements of their faith conflict with your own business needs? Are you always expected to accommodate them?
REDUNDANCY PAY - 01.07.2011
Fixed-term contract(or)s getting redundancy payments
Recently, it was reported that employees hired by the organisers of the Olympic Games will be entitled to redundancy pay, even though they are on fixed-term contracts. Surely the media has got this wrong?
HEALTH & SAFETY - 01.07.2011
What exactly is a “medical suspension”?
A subscriber has asked us to explain, in layman’s terms, the legal difference between “sending a sick employee home from work” and “medical suspension”. What’s the answer?
MATERNITY PAY - 01.07.2011
New plans to extend maternity pay?
We previously advised that EC plans to extend Statutory Maternity Pay had been shelved. But they’ve raised their ugly head again! Should you be worried?
