2023 -
December
SCOTTISH BUDGET - 20.12.2023
Scottish Budget hikes income tax for higher earners
The Scottish government presented its 2024/25 Budget to Holyrood yesterday. The headline changes are a move to a six-tier income tax system, and a hike for those the government deems “higher earners”. Who will these changes affect?
VAT - 19.12.2023
Changes to VAT zero rating imminent
HMRC has announced an extension to the materials qualifying for the VAT zero rate from 1 February 2024. What’s the full story?
RESIGNATIONS - 13.12.2023
Can an employee retract their resignation?
One of your employees has just announced that they are resigning. If they subsequently change their mind, do they have a legal right to retract their resignation?
REDUNDANCY - 13.12.2023
Redundancy: refusing to work their notice period
When you make an employee redundant, you must give them notice and pay them as normal during that time. But what’s the situation if the employee refuses to work out their notice period?
PATERNITY RIGHTS - 13.12.2023
Paternity rights following pregnancy loss
Where an employee experiences pregnancy loss, their maternity rights will depend on the length of the pregnancy. But what paternity rights does an employee have where their wife or partner has a miscarriage or stillbirth?
MINIMUM WAGE - 13.12.2023
Minimum wage rises sharply
On 1 April 2024 the national living wage (NLW) and national minimum wage (NMW) rates will rise by the largest amount since they were first introduced. What are the new figures?
TIME OFF - 13.12.2023
School closures and annual leave
When there’s inclement weather, schools often close early or stay shut, sometimes for several days. If an employee needs to leave work early or have time off due to a school closure, can you insist that they use annual leave?
HOLIDAYS - 13.12.2023
COVID-19: holiday carry over rights removed
When the pandemic started, employees were given the right to carry over certain holiday entitlement for up to two years where they could not take holiday due to COVID-19. However, this right is coming to an end. What do you need to know?
GROSS MISCONDUCT - 13.12.2023
Is a prank gross misconduct or not?
In a 2023 case, the employee was sacked for gross misconduct after he played a prank on a colleague. However, the tribunal ruled that this was an unfair dismissal. Why did it reach this decision?
ENVIRONMENT - 13.12.2023
What are the ESG trends for 2024?
Predicting specific environmental, social and governance (ESG) trends is challenging, but based on existing trends and ongoing developments, there are several areas that are likely to gain attention and significance in the coming year. What are they?
WORKING AT HEIGHT - 13.12.2023
Workers put at risk by unsafe scaffolding
A company has been fined £3,000 after an HSE inspector noticed unsafe scaffolding on a house renovation as he happened to be driving past. What was the problem and what should have been in place to keep workers safe whilst on scaffolding?
OCCUPATIONAL HEALTH - 13.12.2023
What is complex regional pain syndrome?
It’s important to understand what complex regional pain syndrome (CRPS) is, particularly if you have a staff member who has suffered a work-related accident and is reporting symptoms of the condition. What is it and how should you manage it?
HAZARDOUS SUBSTANCES - 13.12.2023
Managing nanoparticles in the workplace
Managing nanoparticles in the workplace is becoming increasingly important as their use in various industries continues to grow. What are nanoparticles, are they harmful and what can you put in place to reduce the risk?
ENVIRONMENT - 13.12.2023
Cheesemaker’s fine for pollution
A dairy business supplying major supermarket chains has been fined £23,700 for causing a discharge of poisonous, noxious or polluting matter. What’s to learn from this case?
WORKPLACE ACCIDENTS - 13.12.2023
Workplace accident statistics released
The latest statistics on work-related accidents and ill health reveal trends in workplace safety. What are the key takeaways for your business?
RISK ASSESSMENT - 13.12.2023
Crush injury lands luxury yacht maker in hot water
A premium yacht maker has been hit with a £600,000 fine after one of its workers suffered life-changing injuries at its shipyard in Plymouth. What happened and how could the incident have been avoided?
AUTUMN STATEMENT - 12.12.2023
Chancellor’s giveaway for businesses too?
The Chancellor provided some seasonal cheer for individuals with an NI cut in his Autumn Statement, but what were the key changes for businesses?
PROFIT EXTRACTION - 12.12.2023
Gifting shares and saving tax on company profits
To prevent parents gaining a tax advantage by shifting income to their children HMRC has tough anti-avoidance rules. Is there legitimate tax planning that company owners can use to work around them?
ACCOUNTS - 12.12.2023
Cash basis accounting - what’s the latest?
The cash basis of accounting is to become the norm for unincorporated businesses when calculating profits for tax purposes. What steps do you need to take to prepare for the change and what impact might it have on your tax bills?
INHERITANCE TAX - 12.12.2023
IHT, international marriages and civil partnerships
Our subscriber’s spouse is from overseas. She’s read that this can result in extra inheritance tax (IHT) if she leaves her estate to her partner. She wants to know if this is correct and, if so, what can be done to avoid the extra tax?
NI CONTRIBUTIONS - 12.12.2023
NI cuts - putting them into practice
The reduction in NI rates announced in the Autumn Statement was welcome but unexpected news for employees. But what are the practical and financial consequences of the new rates for employees and employers?
GIFTS - 12.12.2023
Gift aid - ‘tis the season to be giving
Amidst the baubles and festive cheer, whether you’re in business or pay tax as an individual, how can you make your altruism go a bit further by taking advantage of valuable tax breaks?
AUTUMN STATEMENT - 11.12.2023
Autumn Statement business impacts
A 2% cut in employees’ NI was the key headline from the Autumn Statement. How does this affect your business and how will other key changes announced impact you?
PRODUCTIVITY - 11.12.2023
Creating more “productive time”
For many financial controllers, if they have one consistent issue, it would be that there is simply not enough time in the day to achieve all the things that need to be done. How can you free up some time for productive and focused activities?
COMMERCIAL PROPERTY - 11.12.2023
Lease or buy?
Your business is growing, and you’ve been asked to consider whether the company should lease or buy new premises. What factors do you need to consider in making a decision?
STAFF COSTS - 11.12.2023
National living wage increase and salary sacrifice
If your business operates a salary sacrifice scheme you need to consider whether it might be affected by the national living wage (NLW) increase in April 2024. What do you need to look out for?
VEHICLES - 11.12.2023
What are the benefit in kind rules for vans?
If you provide a company vehicle for use by an employee or directors, it usually counts as a taxable benefit in kind. However, the rules that determine the tax and NI position are notoriously tricky. So, what do you need to know?
EXPENSES - 11.12.2023
Tax deductions for phone calls
You recently travelled abroad on business for the company and while you were there incurred some additional charges on your mobile phone. Can a tax deduction be claimed for these?
PENSIONS - 11.12.2023
Payroll: seasonal and temporary staff issues
The Pensions Regulator has warned that some employers who take on seasonal or other temporary workers are not following the workplace pension rules correctly. If you’re hiring short-term workers what steps should you be taking?
RELOCATION COSTS - 11.12.2023
Tax implications of staff relocation costs
Your business is relocating and you’ve been asked to structure relocation packages for key employees. What are the tax and VAT implications of paying employee relocation expenses?
CORPORATE RESTRUCTURING - 11.12.2023
Using a share-for-share exchange
The board would like to set up a holding company to hold the shares in the trading company to protect the trading company’s assets. The external accountant has suggested this is achieved by a share-for-share exchange. How does this work?
SPREADSHEETS - 11.12.2023
How to use Goal Seek in Excel for “What-If” analysis
Excel contains a number of “What-If” analysis tools which are particularly useful when creating financial forecasts. One such tool is Goal Seek which can be used, for example, to find the sales needed to achieve a certain profit. How does it work?
RISK ASSESSMENT - 04.12.2023
What are the different types of risk assessment?
A risk assessment should be viewed as a generic term to cover the systematic process of evaluating the potential risks posed to a business. But are there different types and when should each be applied?
GAS SAFETY - 04.12.2023
Safely carrying gas cylinders on vehicles
The British Compressed Gases Association has published new guidance on transporting gas cylinders on the road. What advice does it contain and is this something you should follow?
ENVIRONMENT - 04.12.2023
To print or not to print?
More than 1,000 companies have been called out for making misleading claims like “go green, go paperless”. What’s the story and should it prompt a rethink of your approach to invoicing and client communications?
PLANNED PREVENTATIVE MAINTENANCE - 04.12.2023
Be wary of cowboy testers
The HSE has warned of an increase in the falsification of non-destructive testing (NDT) results. What could this mean for your business and how can you avoid the cowboys?
WORKPLACE - 04.12.2023
Funfair fined after child’s trampoline death
An operations manager at a funfair company has been jailed for six months after a three-year-old girl died on a Norfolk beach. What happened and what can you learn from this tragedy?
FIRE SAFETY - 04.12.2023
How to avoid fire spreading through voids
A report into a hotel fire has concluded that there is much work to be done to improve fire safety. In particular, businesses need to take action to ensure that any fire that occurs is contained, especially within voids. What’s to know?
WORKING AT HEIGHT - 04.12.2023
Two men injured after lifting equipment fails
Two men working on a residential tower under construction in London fell about 90 feet. What were the circumstances and how could this have been avoided?
STAFF CONDUCT - 04.12.2023
Handling the Christmas party
With the Christmas party season now upon us, it’s important that you think about how best to manage any work-related seasonal gatherings, and any fallout from the festivities. What should you do?
