Business News - June 2008

These reports provide a snapshot of the state of the economy from informed finance professionals working at the heart of business, across all commercial sectors, size of businesses and UK regions.  It is one of the largest and most comprehensive quarterly reviews of business confidence both nationally and in the South East.

We live in quite amazing times in the world of tax. Over a year ago, in Gordon Brown’s last Budget speech as Chancellor, the so-called ‘abolition’ of the 10% starting rate was announced. The government’s reason for this was, and still remains, the simplification of the tax system.

It has been reported in the Daily Express that tax inspectors are searching social networking sites for potential tax evaders, who may be ‘advertising’ their wealth or assets which may lead HMRC to believe they have ‘hidden’ remuneration.

The forms P11D, which report employees and directors benefits in kind and expenses, are due for submission by 6 July 2008 for the year ended 5 April 2008. The process of tracking down the information can take some time so it is important that you don’t leave things until the last minute.

The government has announced plans to extend the right to request flexible working to parents with children up to the age of 16.