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| Employees
Entitled to Know More |
The Information and
Consultation of Employees
Regulations 2004 have
been extended to cover
undertakings with 50
or more employees from
6 April 2008.
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full article
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| Entrepreneurs’ Relief |
After business leaders
voiced their objections
to the abolition of taper
relief, the Chancellor
introduced a new Entrepreneurs’ Relief
(ER). ER may be available
for disposals, reorganisations
and relevant transactions
taking place on or after
6 April 2008.
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full article
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| 10%
Rate of Income Tax |
Since the start
of the tax year
the basic rate
of income tax
has been reduced
from 22% to 20%
and the starting
rate of 10% abolished
for income except
for savings and
dividend income.
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full article
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| Marks & Spencer
VAT Win |
M&S have won a landmark
victory in the European
Court of Justice. The
case concerned whether
or not HMRC were correct
to limit the amount of
VAT they repaid to the
company after their chocolate
teacakes were reclassified
as a cake rather than
a chocolate biscuit.
The issue of cakes and
chocolate biscuits is
an important one as it
means they are zero rated
rather than standard
rated. The case dates
back many years.
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full article
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