2020 -
October
PERSONNEL COSTS - 29.10.2020
Homeworking pay cut?
With the government now saying people should work from home “if they can”, you’re expecting more requests for permanent homeworking arrangements. Can these be agreed alongside a reduction in salary, and if so what might you save?
INVOICING - 29.10.2020
Creating better bills
Late payments are a headache but sometimes the issues begin with the company’s invoicing procedures. What are the common problems and what could some improvements save you?
KPIs - 29.10.2020
Is DSO the best measure?
As the economic impacts of coronavirus unfold, you need to consider what your business needs to do to ensure ongoing liquidity. Days sales outstanding (DSO) is a key performance indicator for liquidity but are there better alternatives?
GRANTS - 29.10.2020
Free grant for accountancy services
SMEs in England can apply for a grant to cover the cost of specialist professional advice such as accountancy. Can your company take advantage?
MANAGEMENT ACCOUNTING - 29.10.2020
How to avoid overreacting to metrics
A key part of a financial controller’s role is overseeing financial metrics. However, you have to be careful not to overreact to a decrease in a particular measure. How do you decide if a decrease indicates a meaningful trend?
BREXIT - 29.10.2020
Are you ready for customs?
The UK withdrawal agreement expires at 11.00pm on 31 December 2020. After that date, the UK will become a separate customs territory from the EU. What will this mean for your company if it imports from or exports to the EU?
CORPORATION TAX - 29.10.2020
Should you fear HMRC’s accountants?
HMRC’s own accountants inform an inspector whether a particular accounting treatment is in accordance with accounting standards. What are the key “hot spots” they have found to be most problematic?
TAX - 29.10.2020
Effective use of dividend waivers
The company is about to declare a dividend for the last financial year. Some shareholders need the money more than others so a few of the directors plan to waive their entitlement. What do they need to consider?
VAT - 29.10.2020
Private miles - the VAT implications
During lockdown sales fell leaving the firm’s delivery drivers with less work. However, they’ve continued to have use of their company vans, including for personal journeys. What does this mean for your next VAT return?
FINANCIAL MANAGEMENT - 29.10.2020
When you’ve got to cut costs now
Your latest forecasts indicate that the pandemic is continuing to affect sales. Your business has already been through one round of cost cutting at the start of lockdown, but you’ve been asked to suggest further cuts. Where do you start?
SPREADSHEETS - 29.10.2020
User-friendly pivot table filters
Pivot tables in Excel are a great way to organise and analyse data but they can still contain a lot of information. How can you and other users filter the table to focus on specific data?
EMPLOYER BULLETIN - 29.10.2020
Homeworking allowance eased
HMRC’s October “Employer Bulletin” was a bumper edition, covering homeworking, NI numbers and student loans. What are the key points?
PAYROLL CONTROLS - 29.10.2020
Ensuring payroll data accuracy
The payroll team arguably has responsibility for the largest controllable cost in most businesses - its salary bill. What controls do you need to have in place to protect the company’s bank balance and reputation?
CORONAVIRUS - VAT PAYMENTS - 29.10.2020
Interest-free loan for deferred VAT
The 5% VAT rate for the hospitality sector will be extended to 31 March 2021 and an eleven-month payment window is available for VAT deferred earlier this year. What do these measures mean for your business?
VANS - 29.10.2020
Claim 100% input tax on a van if you don’t have a car?
To help cut overhead costs you’ve sold your car and van, purchasing a single replacement van. You will use this for both business and private purposes. Do you need to apportion the input tax and, if so, in what proportion?
BREXIT - CALL-OFF STOCK - 29.10.2020
Register abroad after 31 December 2020?
One of our subscribers trades as an ice cream manufacturer and holds a stock of ice cream in Ireland, which is called off by a known VAT-registered customer when needed. What will he need to do after 31 December 2020?
INSPECTIONS - 29.10.2020
Can you refuse an unannounced VAT inspector?
You have read that HMRC is stepping up compliance visits in your area, including turning up unannounced at businesses and demanding to see till and cash records. What should you do if you are targeted in this way?
SUPPLIES - 29.10.2020
Are you supplying services or just your staff?
A key member of your staff is being seconded to a customer for three months. The customer will pay you for all of the employee’s salary and NI costs plus a 25% profit for your business. Do you need to charge VAT for a supply here?
BREXIT - INPUT TAX RECOVERY - 29.10.2020
VAT on EU purchases: what’s happening next year?
You make a lot of business visits to an EU country and have purchased some equipment that will be used there. The supplier charges 23% domestic VAT. Can it be reclaimed after the end of the transitional period in December 2020?
VAT - 27.10.2020
VAT holiday for PPE ends this week
Despite increased lockdown measures being announced on a daily basis, there’s bad news for anyone needing to buy personal protective equipment (PPE). What’s changing on 1 November?
emissions - 27.10.2020
Should your business go net zero?
During September’s Climate Week, many companies set “net zero” goals. What does this mean and how might it affect your business?
WATER - 27.10.2020
Preventing water pollution
The Chief Executives of 15 water companies have come under direct pressure from the Environment Minister to do more to prevent environmental harm. What’s being asked of them and how might this affect you?
PACKAGING - 27.10.2020
Dealing with single-use plastics
New legislation to tackle plastic waste has arrived in England. What does it demand of businesses that use packaging, how might you be affected, and what should you do now to prepare?
WASTE - 27.10.2020
Landfill site accepted the wrong waste
Two former waste company directors have been fined after admitting that they had ignored various rules governing the control of waste at their landfill site. What happened?
PESTICIDES - 27.10.2020
Slug pellet ban from 2022
It has been announced that the outdoor use of metaldehyde is to be banned in Great Britain from March 2022. What’s prompted this decision and how will it affect you if you use slug pellets?
VEHICLES - 27.10.2020
Is it time to ditch ageing vehicles in London?
In October 2021 the Ultra Low Emission Zone (ULEZ) will expand across London. What does this mean for businesses that operate in the area? And what should you do now to prepare for the changes?
ENVIRONMENTAL ARRANGEMENTS - 27.10.2020
Describing your environmental management system
When creating your policies and procedures on environmental matters, you’ll probably begin with a high-level statement of intent and some specific procedures. What’s the benefit of also setting out your “arrangements”?
CORONAVIRUS - 26.10.2020
Stop workers entering or face a fine
Employers in England face fines of up to £10,000 if they allow staff to come to work when they should be self-isolating. How will this be applied?
WORK EQUIPMENT - 26.10.2020
Worker’s arm trapped in a lathe
A company has been fined after an agency worker suffered serious injuries to his arm when it was dragged into a lathe. What measures should have been implemented to prevent the accident?
TRAINING - 26.10.2020
Refreshing your safety training
Most companies will provide health and safety training to staff at the start of their employment, but they may forget to refresh this knowledge as the years pass. Why might this be a good time to consider it?
TRANSPORT - 26.10.2020
Road risk shuts business down
A driver has been jailed and his employer forced to cease trading after a fatal road accident. The tragedy was blamed on the fact that the driver did not have a clear view of the road. In what respect was it caused by management failings?
FIRE SAFETY - 26.10.2020
Fire safety in a half empty building
One of our subscribers is concerned that their fire risk assessment might not reflect their new reality, as when it was undertaken their building was fully occupied. With some other occupiers no longer present, what might be the implications?
FIRST AID - 26.10.2020
Should you keep records of first aid treatment?
When your first aiders assist a casualty, you might have a process for taking down notes of the incident and what was done to help. Is it necessary to do this, and if so, are there rules which must be followed?
CORONAVIRUS - 26.10.2020
Occupational coronavirus cases
The HSE has published a summary of the cases of coronavirus reported to it under the Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013. What do the statistics show?
PAYROLL - 26.10.2020
Employee told to repay ten-year-old payroll error
An employer demanded that an employee repay £20,000 after it discovered that she had been overpaid for more than ten years. When an historic overpayment is spotted, can you make an automatic deduction from the employee’s salary?
coronavirus - 26.10.2020
Force staff to have a vaccine?
Approximately 240 different coronavirus vaccines are under development. In the event one is deemed suitable, can you insist that your employees have it?
TRIBUNAL COSTS - 26.10.2020
How much to defend a tribunal claim?
The tribunal has ordered an employee who lost an unfair dismissal claim to pay his former employer £432,000 in respect of its defence costs. How much does it usually cost to defend a tribunal claim and what is the average costs award?
EMPLOYERS’ LIABILITY - 26.10.2020
Employer not liable for employee’s prank
In a 2020 case a contractor was injured when a workplace prank went wrong. He sued the employer for damages, but the High Court has ruled that it wasn’t liable for the employee’s actions. Why was this?
GRIEVANCES - 26.10.2020
How to deal with a collective grievance
Several of your employees have got together and submitted a written grievance. Must you meet with each employee individually to discuss their concerns and does the Acas Code of Practice (the Code) apply to collective grievances?
HOMEWORKING - 26.10.2020
Private investigators checking on homeworking
Some employers have hired private investigators to check up on staff who are working from home. They are also being used to ascertain if self-isolating employees are telling the truth. Is this practice legal?
DISCRIMINATION - 26.10.2020
Christian fairly sacked over anti-LGBT post
A Christian school assistant who was sacked after she posted anti-LGBT comments on her personal social media account has lost her claim for unfair dismissal and discrimination. Why were the employer’s actions reasonable?
CORONAVIRUS - 22.10.2020
Job Support Scheme becomes more generous
It’s just been announced that employers will be expected to pay 5% of the cost of unworked hours under the Job Support Scheme (JSS) instead of the 33% originally communicated.
CORONAVIRUS - TRADING LOSSES - 22.10.2020
Don’t miss opportunities to claim now
Coronavirus is likely to have hit clients harder in 2020/21 than in the previous tax year. However, how can you ensure they maximise tax reliefs as soon as possible?
VAT - 22.10.2020
Early termination and compensation fees: new policy
You act for clients that provide ongoing services to their customers. Sometimes, a customer will pay a fee to cancel or amend a contract early due to a change in trading circumstances, e.g. coronavirus. Do your clients need to charge VAT on these fees?
COMPANY SALE - 22.10.2020
Selling the company: taxing the consideration correctly
One of your clients has built up their trading company from scratch. They have received an offer for their shares which they are keen to accept, but the purchaser is proposing to issue loan notes as part of the consideration. What do you need to advise?
MAKING TAX DIGITAL - 22.10.2020
Making Tax Digital: what’s coming next?
Over the summer of 2020 the UK government finally committed to the next step of the Making Tax Digital (MTD) rollout. There is a lot of information to communicate to clients. What are the key points?
PRIVATE RESIDENCE RELIEF - 22.10.2020
Buying property in stages: a risk to tax relief?
Property purchase is an area in which HMRC is taking more interest and transactions that look out of the ordinary may attract unwelcome compliance attention. Why do clients buying multiple properties in stages run a particular risk?
CORONAVIRUS - TAX PAYMENTS - 22.10.2020
Government announces further payment help for clients
The government’s Winter Economy Plan focused heavily on tax cash flow, for both income tax and VAT. What’s new for clients and how can you help them get back on track with their payments?
LOSSES - 22.10.2020
Can losses be transferred to a new company?
A loss-making client of yours is in the process of introducing new shareholders as part of a turnaround plan. The shareholders wish to start afresh and transfer the trade to a new company. Can the historic trading losses be transferred along with the trade?
GRANTS - 22.10.2020
Free money for professional advice
SMEs in England can apply for a grant to cover the cost of specialist professional advice such as accountancy. Can your company take advantage?
CORONAVIRUS - 21.10.2020
More grants for the self-employed
HMRC has published guidance on two new coronavirus- related grants for the self-employed that it will be administering. Who will be entitled to claim and when?
CAPITAL ALLOWANCES - 21.10.2020
Capital or revenue expenditure - the tribunal decides
The First-tier Tribunal (FTT) recently ruled on a case involving one of HMRC’s favourite battlegrounds; whether an expense was capital or revenue. What was the outcome and why might it be significant for your business?
PROPERTY - 21.10.2020
Avoiding the buy-to-let interest restriction
You let a residential property which you bought with the help of a mortgage. Personal tax rules mean that relief for the loan interest is restricted. As you also own a company, can you transfer the income to it and so dodge the restriction?
EXPENSES - 21.10.2020
The tax-free benefits of business travel
Handling your employees’ travel expenses claims is time consuming and the tax and NI requirements can be tricky. The good news is that the process can be simplified by paying flat rate tax-exempt allowances. What are they?
TAX PLANNING - INCORPORATION - 21.10.2020
Tips for transferring your business tax efficiently
The business you started a couple of years ago has grown, so you’ve formed a company to take over the trade. What steps can you take to make the transition smooth and tax efficient?
CAPITAL GAINS TAX - 21.10.2020
Has working from home landed you with a CGT bill?
The coronavirus lockdown has raised the thorny question of how capital gains tax private residence relief might be affected if you work from home as a result. Is this something you should be concerned about?
VAT - 21.10.2020
Countdown to new VAT rules
HMRC has published new guidance on what steps your business may need to take from 1 March 2021 if it supplies or receives building or construction services. How should you use the guidance?
CORONAVIRUS - 21.10.2020
The Job Support Scheme and redundancies
On 1 November 2020 the new Job Support Scheme (JSS) will open. It is designed to protect viable jobs in businesses that are facing lower demand over the winter months due to coronavirus. Can you apply if you’re considering redundancies?
TAX - 21.10.2020
Tax efficiency when creating a workspace at home
After working from home during lockdown you want to make the arrangement permanent. If your company pays the cost of setting up a proper home office, what are the tax consequences for you and it?
PENSIONS - 21.10.2020
Tax planning for taking your pension savings
The government says that the age for accessing private pension savings is to be raised from 55 to 57. If you’re in your late 40s or older, how might this affect your pension plans?
COMPANY LAW - 21.10.2020
New company rescue procedure up and running
One of the measures introduced by the Corporate Insolvency and Governance Act 2020 was a new reconstruction plan to help companies survive the financial impact of the pandemic. The first such plan has recently been considered by the court. When can a reconstruction plan be proposed and what’s involved?
CORONAVIRUS - 21.10.2020
Take a bounce back loan for a rainy day?
The government’s lending programme to firms impacted by coronavirus has been extremely popular. The new terms make the scheme even more attractive. What’s to know?
disciplinary matters - 21.10.2020
Employee won’t return to work due to house move
Some employees who’ve been working from home during the coronavirus pandemic have used the opportunity to move to a different geographical area as they no longer have to commute. But what happens if you now want them back at their workplace?
REDUNDANCY - 21.10.2020
Redundancy dismissal was not unfair
The Employment Appeal Tribunal has ruled that an employer’s failure to place a redundant employee on its list of bank workers didn’t make his dismissal unfair. Why?
CORONAVIRUS - 21.10.2020
Job support for closed businesses
The Job Support Scheme will be expanded from 1 November 2020 to help businesses required to close during the pandemic. What wage grants are available?
discrimination - 21.10.2020
Black jobs matter - positive action in recruitment
The Black Lives Matter movement has put the issue of workplace diversity firmly under scrutiny. To help ensure future diversity, one option is to use positive action. What is it and how does it differ from positive discrimination?
BREXIT - 19.10.2020
Prepare now for end of transition period
The government is urging businesses to take action now to prepare for the end of the transition period on 31 December 2020. What should you do?
CORONAVIRUS - 19.10.2020
Received an SEISS grant?
HMRC is contacting businesses which claimed a grant under the Self-Employment Income Support Scheme to check whether they have stopped trading. What do you need to do?
TRANSPORT - 19.10.2020
MOT test confusion
There’s a huge backlog in MOT testing and confusion over expiry dates. What do you need to know?
EMPLOYMENT STATUS - 15.10.2020
Off-payroll working, here we go again
One of the casualties of COVID-19 was the government’s plan to roll out the off-payroll working reforms to the private sector, but it was merely a delay to April 2021. So what do you need to know and how should you prepare?
OPTIONAL REMUNERATION ARRANGEMENTS - 15.10.2020
OpRA - benefits transition period closing
When optional remuneration arrangements (OpRAs) were introduced in 2017 some benefits in kind were given a four-year transitional window. This ends on 5 April 2021. What are the key elements?
STUDENT LOANS - 15.10.2020
Another student loan plan type
From April 2021 Plan 4 student loans will be introduced affecting 500,000 Scottish borrowers who will see the loan earnings threshold rise to £25,000. What do you need to do now to prepare for their introduction?
CORONAVIRUS - 15.10.2020
Do you need to keep the windows open?
Ventilating rooms is one of the ways to help reduce the spread of coronavirus indoors. But is that realistic given the great British climate?
WORK EQUIPMENT - 14.10.2020
Operator killed while high-pressure jetting
Following the death of an operator using jet-washing equipment, an employer has been fined £2 million. What are the dangers of using this machinery and what should you look for when hiring a contractor for this task?
WORK AT HEIGHT - 14.10.2020
Updated guidance on roof work
The HSE has updated its detailed guidance for those organising work on roofs. Whether your structure is pitched or flat, tiled or sheeted, already built or under construction, this is your go-to guide. What’s changed?
OCCUPATIONAL HEALTH - 14.10.2020
Dust-focused inspection time
Inspectors across the country will be out and about checking to make sure that construction firms’ health standards are fit for purpose. What are they looking for?
FIRST AID - 14.10.2020
Fresh advice on first aid
The HSE has revamped its web-based first aid information, bringing together the latest developments on the subject. It covers the arrangements you should have for delivering first aid as well as how to manage training needs at this time.
