Vince Cable has announced measures to give employers more flexibility in managing their workforce by reducing employment law red tape. According to the press release: ‘The government has given details of: Its support for settlement agreements to help end employment relationships in a fair and consensual way. A consultation on how best to make this […]

The government has announced key changes to company and LLP audit and reporting requirements. The changes remove the need for many more companies and LLPs to have an audit and apply to financial years ending on or after 1 October 2012. The government has announced that: for small companies the audit thresholds will be aligned […]

The CBI is backing a new guide which encourages good practice among suppliers and customers. The guide offers advice to businesses to ensure that they get paid by their customers and also pay their suppliers on time. To read the guidance please visit the link below. Internet links: Press release  Get paid guide

The National Minimum Wage (NMW) rates from 1 October 2012 are as follows: the adult minimum wage rate will increase from £6.08 to £6.19 an hour the rate for 18 – 20 year olds will remain at £4.98 an hour the rate for 16 -17 year olds will remain at £3.68 an hour and the […]

The Enterprise Investment Scheme (EIS) has been in place for a number of years and provides tax relief for individuals prepared to invest in new and growing companies. Investors can obtain generous income tax and capital gains tax reliefs for their investment and companies can use the relief to attract additional investment to develop their […]

HMRC have announced the publication of guidance covering the changes to address VAT borderline anomalies announced at Budget 2012.  The majority of the changes take effect from 1 October 2012. The changes which relate to caravans will however take effect from 6 April 2013. Seven information sheets are available which cover the following areas: Hot […]

HMRC have updated their guidance on the classification of vehicles. For VAT purposes it is vital to know the difference between cars and other vehicles. This is because in most cases, VAT registered businesses cannot reclaim the input VAT incurred when they purchase a car. Generally businesses are able to reclaim the input VAT when […]

HMRC have announced a new procedure whereby individuals can email them for written confirmation of their National Insurance number using form CA5403. HMRC advise: ‘If you’ve lost or can’t remember your National Insurance number or can’t find it on official paperwork you can email HM Revenue & Customs (HMRC) for written confirmation of your number. […]

The government has announced that the Autumn Statement will be made by the Chancellor of the Exchequer, George Osborne, on Wednesday 5 December at 12.30pm.   The Statement provides an update on the government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility.  We will let you have details of […]