Drop tax-free limit on workplace financial advice

The Government should look at lifting the £150 tax-free limit on independent financial advice paid for by employers. The call has come from the Association of Consulting Actuaries (ACA) as part of its submission to the Workplace Retirement Income Commission chaired by Lord McFall. The ACA argued that doing so would encourage more employers to … Continue reading Drop tax-free limit on workplace financial advice

IR35 needs greater focus

Uncovering the few real cases of disguised employment should be the new focus of HM Revenue and Customs (HMRC) when it comes to applying IR35 rules. That is the view of Jeff Brooks, chair of the technology group at the Recruitment and Employment Confederation (REC). The #REC is one of the groups invited to join … Continue reading IR35 needs greater focus

New business regulations to come into effect

Each year, the government introduces regulatory changes affecting businesses on two common commencement dates. These dates are 6 April and 1 October. There are a number of changes that will be implemented on 1 October 2010. What follows is a summary, but not an exhaustive list, of some of the other important new regulations with … Continue reading New business regulations to come into effect

PAYE mistakes highlight tax system ‘complexity’

PAYE mistakes highlight tax system 'complexity' HM Revenue and Customs' concession that upwards of six million people have either underpaid or overpaid their tax during the past two years is a sign that the current tax regime is overly complicated, it has been claimed. According to Chas Roy-Chowdhury, who is head of taxation at the … Continue reading PAYE mistakes highlight tax system ‘complexity’

Local heroes

Small business leaders elevated entrepreneurship to almost heroic proportions through the dedication and sacrifice they made to keep their businesses afloat during 2009.  According to a recent report by Hiscox:  One in five SME bosses invested on average £17,000 of their own savings in their business last year Over a third cut their own salaries … Continue reading Local heroes