Businesses are being warned to undertake more rigorous checks into applicants’ backgrounds as the number of prosecutions for employing illegal workers increased over 500%, according to Giant Precision a business process outsourcer. According to information they obtained from the Home Office, the introduction in February 2008 of the new penalty system has led to 233 […]

The UK has moved from the ‘containment’ to the ‘treatment’ phase of swine flu (H1N1) as the number of people catching swine flu continues to rise. Health Secretary Andy Burnham said that cases are doubling every week and if it continues at this rate there could be over 100,000 cases per day by the end […]

According to the Society of Motor Manufacturers and Traders (SMMT) 29,796 vehicles have been registered under the scrappage scheme since it started on 18 May 2009. This accounted for 9.7% of June’s new car registrations a total of 17,014 units. In addition to cars 323 vans were also registered in June under the scheme (1.9% […]

HMRC are reminding employers that since the beginning of the current tax year automatic penalties have been introduced for those who do not comply with the National Minimum Wage (NMW) Regulations. The penalties range from £100 to £5,000 with 50% prompt payment discounts for employers who settle within 14 days of notification. The penalty is […]

The Health and Safety Executive (HSE) is warning businesses not to be misled into buying unnecessary and expensive copies of the health and safety law poster. Employers have a duty to display the poster prominently in the workplace or provide employees with a copy of the pocket card version. Both poster and card set out […]

Pension contributions made by an individual are usually paid net of basic rate tax. Where the individual is a higher rate taxpayer further relief is due which significantly reduces the net cost of the contribution. In the Budget this year the government announced its intention to restrict tax relief on pension savings with effect from […]

HM Revenue & Customs (HMRC) has confirmed the details of a new disclosure initiative that will allow people with unpaid taxes linked to offshore accounts or assets to settle their tax liabilities at a favourable penalty rate. Under the New Disclosure Opportunity (NDO) people who make a complete and accurate disclosure between 1 September 2009 […]

M&A activity in the UK over the past 6 months has undoubtedly endured a rollercoaster ride as the effects of the recession have been felt by British businesses. As one would expect, businesses have been more cautious in their approach to mergers and acquisitions. Indeed, statistics from Corpfin (part of Experian) indicate that the number […]

HMRC have amended the form CWF1 which is completed by those individuals who have set up a new business either as a sole trader or as a partner in a partnership. The form is used to notify liability to Class 2 National Insurance Contributions (currently £2.40 a week) amongst other things. Under the revised behaviour […]

According to government figures, as at the end of April 2009, over 116,000 businesses have agreed time to pay tax arrangements with HMRC to the value of two billion pounds. The Business Payment Support Service, which was introduced last autumn, provides a ‘fast track’ service that offers support to those needing more time to pay […]