2013 -
May
INHERITANCE TAX - 31.05.2013
Special IHT treatment for married couples
Usually there’s no Inheritance Tax to worry about when married couples transfer assets between each other. But that’s not the position where one of them has origins abroad. How do recent changes to the law affect this?
ENTERPRISE INVESTMENT SCHEMES - 31.05.2013
Tax efficient company financing
If you want to raise cash for your company, the Enterprise Investment Scheme offers tax incentives to draw in outside investors. But these tax breaks can be lost if you don’t use the money within a certain time. What do you need to know?
EXPENSES - 31.05.2013
End of the “renewals” tax deduction
Businesses are no longer entitled to claim the “renewals allowance” for the cost of replacing equipment. This won’t pose a problem for most, but some property rental businesses might be worse off. What’s the full story?
NATIONAL INSURANCE - 31.05.2013
New NI charge on business partners
HMRC has changed its mind on NI for “inactive business partners”. It says contributions have always been due; so will back payments apply?
VAT - 31.05.2013
What records do you need to reclaim VAT?
If you’re preparing for a VAT inspection you’ll want to be sure you have the right paperwork ready. This includes invoices to back up any VAT you’ve reclaimed, but can HMRC demand this back if you don’t have them?
PROFIT EXTRACTION - 31.05.2013
New rules on company loans to directors
New rules apply to most directors who borrow money from their company. Until now if they repaid this within nine months of the end of its accounting period, no tax charge would arise. What’s changed?
FINANCING - 28.05.2013
Accounting for factoring
As bank overdraft finance has become increasingly difficult to access, more companies are looking to factor their debts as an alternative source of funding. But it’s important to get the accounting right - how should it be done?
SPREADSHEETS - 28.05.2013
Calculating future loan payments
Your company is thinking of taking out a loan to fund a large machinery purchase. For forecasts, you need to calculate the future loan payments, breaking them down into interest and capital payments. How can Excel help?
PERSONNEL - 28.05.2013
When it’s not good to talk
Making personal calls at work is something that some employees regard as being their absolute right. Could a clear policy help cut this out and save you money?
PERSONNEL - 28.05.2013
Dealing with company affairs
Office affairs are commonplace, yet can present all sorts of HR challenges for any employer. So how do you ensure love can blossom without your profits wilting?
CREDIT CONTROL - 28.05.2013
New rules on late payment
New EU legislation has just been implemented in the UK to tackle the problem of late payers. How will the changes affect your credit control procedures?
MERGERS AND ACQUISTIONS - 28.05.2013
Assembling a “data room”
During your career as a financial controller you may find your company, or one of its subsidiaries, is put up for sale. If this happens, you may be asked to assemble a “data room”. So what is a data room and how do you go about creating one?
COMPANY LAW - 28.05.2013
Being the company secretary
The financial controller is often asked to take on the role of company secretary. But before you accept such an appointment, it’s important to understand the legal responsibilities that come with the role. What do you need to know?
CORPORATION TAX - 28.05.2013
Planning for future tax changes
A couple of tax changes have been announced over the last six months which could have a significant influence on the timing of capital purchases. What should you be doing now to ensure your company maximises its tax relief?
IT - 28.05.2013
Faster desktop speed
If you’re like us, you probably spend quite a bit of time in front of a PC. But could you and your staff be spending less time at the computer by doing things faster? And, if so, what might you save?
INTELLECTUAL PROPERTY - 28.05.2013
Who does your company logo belong to?
The directors want the company to have a distinctive logo and the right designer has been found for this job. Once they’ve been paid for their creation, will the logo automatically belong to the company or not?
COMPANY LAW - 28.05.2013
Can you issue shares at any price to a new investor?
You’ve found the right person to join your firm as a director and you’re happy to offer them shares as part of the deal. The sticking point is that they can’t pay what they’re worth. Can you simply give them the shares at a cut price?
PERSONNEL - 28.05.2013
Can you dismiss an “unsuitable” manager?
To enable the directors to focus on running the company, a manager has been brought in. However, there have been a number of complaints about their poor management style. Can you dismiss them because of this?
DIRECTORS’ LIABILITY - 28.05.2013
Outsourcing fire safety: what’s the (personal) risk?
At a recent board meeting, the directors agreed to outsource fire safety to an external consultant. Once the company signs on the dotted line, will your personal liability for these matters be transferred over to them too?
DIRECTORS’ TAX - 28.05.2013
NI danger for multiple directorships
HMRC has recently updated its National Insurance (NI) toolkit. This includes a warning that earnings from two or more directorships can be lumped together for NI purposes resulting in higher payments. When might this rule apply?
MONEY LAUNDERING - 28.05.2013
Money laundering checks on the way
HMRC has begun a campaign of money laundering checks. It will start with a simple phone call, but might follow this up with a visit. What’s the full story?
COMPANY TAX - 28.05.2013
Tax deductions and your first accountant’s bill
You’ve just received a hefty bill from your accountant for advice on setting up your company and dealing with associated tax matters for the directors. Can the company claim a tax deduction for the whole amount or are there restrictions?
BUSINESS - WEB SERVICES - 28.05.2013
Crowdfunding, UK style
Crowdfunding - which some people claim dates back to the 17th century - is making headlines in the UK these days. We look at the scene.
SOFTWARE - BROWSER - 28.05.2013
Your browser in top gear
Now that all modern browsers achieve more or less the same speeds, the choice of browser no longer has a major impact on your surfing speed. Still, there are a couple of simple things that can increase this.
SEARCHING - INTERNET - 28.05.2013
Browser plug-ins for Google
As a fervent user of the Google search engine and other Google services, you can make your searches even more efficient using plug-ins for Google Chrome or Mozilla Firefox. Which ones do you need and what do they have to offer?
HEALTH - ERGONOMIC - 28.05.2013
Ergonomics for mobile devices
As is the case with PCs, intensive use of mobile devices can lead to unhealthy working postures. What tools can improve your ergonomics? Here are some suggestions.
SECURITY - BACKUP - 28.05.2013
Double backup = safe!
Making backups remains the best way of preventing data loss. It’s a chore, but fortunately you can automate it to a large extent. Here are three tools that can assist you.
E-MAIL - WEBMAIL - 28.05.2013
Business webmail: Google Apps or…?
Google Apps, the Gmail variant bundled with business-related applications, is no longer free. Are there any good alternatives?
BUSINESS - JOBS - 28.05.2013
Recruitment tools
Do you often employ new workers? Workable is a cloud tool that aims to streamline the job application route within your business. We put this web service to the test for you.
TELEPHONY - MOBILE PHONES & SMARTPHONES - 28.05.2013
Spring-cleaning for your iPhone
Is your iPhone slower than it used to be or is it full of apps you no longer use? Here are some tips for giving your iPhone a thorough spring-clean.
SECURITY - ANTI-MALWARE - 28.05.2013
Securing your USB sticks
In spite of the existence of cloud services such as Dropbox, USB sticks remain indispensable for transferring large files among computers or for sharing files with others. However, it’s important to secure these USB sticks properly.
BUSINESS - WEB SERVICES - 28.05.2013
Online polls among your colleagues
As a dedicated employer, you will want to take account of the wishes of your employees, while as a team leader you will listen to your colleagues’ suggestions. We looked for some handy tools that can help.
CONSUMERS - CONSUMER INFORMATION - 28.05.2013
Buying a laptop
Buying a new laptop isn’t straightforward these days, with so much information available online where do you begin? The new Swogo website promises to help you. But there are other online tools as well.
WEB SERVICES - ONLINE STORAGE - 24.05.2013
Your own “private cloud”
Cloud services such as Dropbox have been around a long time now, but you’re never 100% sure that your files are safe and private. OwnCloud lets you create your own cloud service on your server or via a hosting account. Is this safer?
WEB SERVICES - AUDIO - 24.05.2013
Audio at its best
Do you need to make a good audio recording to enhance a presentation, website or commercial? Here are some webtools that can help you.
BUSINESS - WEB SERVICES - 24.05.2013
Enable your customers to book online
Are you, as a service provider, looking for an easy tool that allows your customers to book your service online? We put the cloud tool YouCanBookMe, which connects directly to your Google Calendar, to the test.
CONSUMER - CLASSIFIED - 24.05.2013
Selling on the Web
Seeing a new site - Loubilou - that lets you sell children’s clothes and toys, we decided it was time to check out the Internet marketplace scene.
SECURITY - PARENTAL CONTROL - 24.05.2013
Digital parental control
Does your child use a digital device? Then you may want to exercise some parental control. What are the basic options on various types of device?
TELEPHONY - SMARTPHONE - 24.05.2013
Facebook on your Android smartphone
Facebook has decided not to release its own smartphone after all, but introduce Facebook Home: a “social skin” which installs itself on top of the existing apps on your Android smartphone. How useful is it?
PERSONAL WEBSITE - WEBSITE ANALYSIS - 24.05.2013
Website statistics
Visual.ly turns online data into informative infographics. This web service also allows you to create a visual representation of information provided by Google Analytics. Is this useful?
SECURITY - ANTI-MALWARE - 24.05.2013
Which virus scanner is best for malware?
Malware, such as Trojan horses, enters your system stealthily via e-mail or websites. Which virus scanners are smart enough to stop even the most recent viruses? A leading German magazine did a thorough test.
WEB SERVICES - ONLINE OFFICE - 24.05.2013
Google Docs = Google Drive
As a regular Google Docs user, you will probably have noticed that this handy web service has been integrated into Google Drive. What consequences does this integration actually have for you?
E-MAIL - E-MAIL SOFTWARE - 24.05.2013
Handy e-mail tools
However good your e-mail application may be, there’s always room for improvement. We collected a couple of tools and services which can help you to resolve specific problems.
SOFTWARE - FONTS - 24.05.2013
From handwriting to font
There are lots of paid for services that convert your handwriting into a font. Is there a service that offers such a function free of charge? And can you subsequently use your “handwriting” on your website?
DISCIPLINARY PROCEEDINGS - 17.05.2013
Should you re-interview the accused?
During any disciplinary investigation, you’ll need to interview “the accused”. But suppose that some new evidence comes to light after this takes place. Should you re-interview them or can you stick with the outcome of the original meeting?
CONTINUITY - 17.05.2013
Attendance before their official start date
Sometimes, a new employee will come into your workplace prior to their official start date, perhaps for training or to meet other members of staff. Would such an event start their period of continuous employment or not?
EMPLOYMENT STATUS - 17.05.2013
Employee-shareholder contracts
After some negotiation, the government has finally added “employee-shareholder contracts” to the statute books. They will come into force on September 1 2013, but why should you avoid them?
REFERENCES - 17.05.2013
References and post-employment victimisation
The Employment Appeal Tribunal (EAT) has ruled that an ex-employee couldn’t claim post-employment victimisation under the Equality Act 2010 when he was given a bad reference. So does that mean it’s now safe to say what you like?
CONFIDENTIALITY - 17.05.2013
How to protect your confidential information
Employers are repeatedly urged to take all necessary steps to protect their “confidential information”, otherwise known as “business secrets”. But what can fall into this category and how can you protect it?
NEW LEGISLATION - 17.05.2013
The Employment and Regulatory Reform Act 2013
After much Parliamentary to-ing and fro-ing, the Employment and Regulatory Reform Bill finally received Royal Assent on April 25. What are its key changes and when will they come into force?
FIT NOTES - 17.05.2013
Can you reject the advice in a fit note?
When the government recently issued updated guidance on fit notes, parts of the media said that it “had granted employers permission to reject the advice contained in a GP’s fit note for the first time”. Is that right?
ASBESTOS - 16.05.2013
Must you tell the emergency services about asbestos?
You’ve heard that if you have asbestos in your property, you must provide the emergency services with details of what’s there and its condition. Is this really the case and, if so, how should you do it?
INSURANCE - 16.05.2013
No win, no fee, no more?
Changes have recently come into force which affect the way in which the cost of court action is recovered by claimants. What’s happened and why is it good news?
ELECTRICITY - 16.05.2013
Thermal imaging of distribution boards
You’ve heard that you should have your electrical distribution boards checked for hot spots using special thermography equipment. Is it necessary and, if so, what’s involved?
OCCUPATIONAL HEALTH - 16.05.2013
Support on return to work
When staff are on long-term sick leave, there’s a risk that they’ll never return to work. What can employers do to avoid this and what new options are in the pipeline?
H&S MANAGEMENT - 16.05.2013
Changes for the self-employed
It was announced in the Queen’s Speech that some self-employed workers will become exempt from health and safety law. What could be the effect?
YOUNG WORKERS - 16.05.2013
Are you looking after your young workers?
The law protecting young workers is pretty strict, and as a flurry of recent cases shows, there are serious consequences for those who get it wrong. What do you need to know?
FIRE ALARM - 16.05.2013
Can you service your own fire alarm?
Budgets are tight and you’re wondering whether it’s really necessary to have your fire alarm serviced by a specialist contractor. Is it a legal requirement and if not, what are the options?
POLICIES & RECORDS - PODIUM STEPLADDER CHECKLIST - 16.05.2013
Checking podium steps for defects
As with an ordinary set of stepladders, podium steps should be checked over before climbing up them. Why not use our new checklist as a training aid and formal record sheet?
LEGISLATION - 16.05.2013
New sharps regulations
For those working in the healthcare sector, new legislation in the form of the Health and Safety (Sharp Instruments in Healthcare) Regulations 2013 came into force this month. Will you need to change how you work and, if so, how?
WORK AT HEIGHT - 16.05.2013
Crushing accidents with mobile platforms
A recent research report has found that the design of many mobile elevating work platforms puts operators at risk of becoming trapped against fixed objects. What action can you take to reduce the risks?
LEGISLATION - 16.05.2013
Legal changes start in earnest
The HSE has finally started to scrap pieces of health and safety legislation. What’s the story so far and how might you be affected?
H&S MANAGEMENT - 16.05.2013
Say it and mean it
A barrister who specialises in health and safety has informed us that many businesses are leaving themselves open to problems. This is because they’re not following their own systems. What’s to know?
ELECTRICITY - 16.05.2013
Wires badly crossed - with fatal results
A property development firm has been ordered to pay fines and costs of £175,000 after its electrical work and follow up testing was done so badly that a worker died. What happened?
FIRE SAFETY - 16.05.2013
Letting to multiple tenants
You’re considering letting out some residential property to a group of people, but you’ve heard that the authorities will regard it as a house in multiple occupation (HMO). What does this mean and are there any safety implications?
BENEFITS - 10.05.2013
Tax breaks for company-owned holiday homes
Holiday homes aren’t cheap to buy or run, especially where you meet the cost out of your taxed income. You could instead get your company to pay, but what are the pros and cons of doing this?
PROFIT EXTRACTION - 10.05.2013
Are dividends still safe?
The high profile case over whether HMRC can apply tax and NI to dividends in the same way as salary, has collapsed after the company involved conceded defeat. What does this mean for you and your company?
PENSIONS - 10.05.2013
Get a little extra tax relief on pension contributions
A colleague tells you that tax relief on pension contributions is only allowed against salary and not dividends. And, because you only take a small salary from your company on which you don’t pay tax, you’re losing out. Is he right?
INHERITANCE TAX - 10.05.2013
Tax compensation for falling property values
Selling a property in a falling market is never good. But if it’s one you inherited, a special tax break can reduce your losses. How does this work and how might your company help you take advantage of it?
PAYE - 10.05.2013
End of year returns - urgent warning
RTI continues to cause trouble as unexpected penalties emerge. Employers have just days in which to take steps to avoid these. What’s the full story?
COMPANY CARS - 10.05.2013
Don’t overpay tax on your company car
It will soon be time to complete those pesky Forms P11D for 2012/13. But as your company car was off the road for a spell, should you be reducing the amount of benefit in kind you declare?
DISMISSAL - 10.05.2013
Third party pressure to remove an employee
Let’s suppose that, due to a clash of personalities, one of your clients is refusing to have a particular employee back on their premises. Does this objection mean that the directors can move straight to dismissal?
COMPANY LAW - 10.05.2013
Avoiding a conflict of interest with your company
Making your company successful is your main concern, but if you don’t look out for potential conflicts of interest you might be in trouble with your fellow directors or worse still, face costly penalties. What steps can you take to avoid both?
FINANCE - 10.05.2013
New rules on credit card surcharges
The government has now banned companies from imposing “excessive” surcharges on all credit payments. So what can they charge and where can directors find guidance on the new rules?
EMPLOYMENT STATUS - 10.05.2013
IR35 - company officers caught under new rule
A colleague has told you that a new, wider-reaching IR35 rule might mean PAYE tax and NI is payable on income received by your company. When does this new rule apply?
CONTRACTS - 10.05.2013
Contracts: the registered name or trading name?
Although a company will have been incorporated with a particular name that’s registered at Companies House, it may opt to trade under an entirely different one. But which should the directors use when it enters into a contract?
PROFIT EXTRACTION - 10.05.2013
Tax relief for a director’s personal assistant
You could really do with some help with the business admin, but your company can’t afford to take on another worker. Can you instead pay your spouse or partner from your own pocket and get a tax deduction for this?
INTELLECTUAL PROPERTY - 10.05.2013
The dangers of that perfect website picture
Having carried out an online search, a fellow director has spotted a picture which will look great on the company’s new website. It doesn’t appear to belong to anyone, so is it safe to save the image and then use it as your own?
