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Taxpayers who owe HM Revenue and Customs (HMRC) more than £2,000 as a result of PAYE coding errors will not be charged interest on the sums. People who request extra time to pay because of the size of the amounts that have been underpaid will see any interest charges that otherwise would have arisen waived, … Continue reading HMRC offers concession on tax error interest payments
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
The government is likely to axe this year's pre-Budget Report, according to press reports. The Financial Times has suggested that the PBR will be replaced with a shorter statement to be delivered in November or December once the Office for Budget Responsibility has finalised its economic forecast. The statement may be accompanied by some consultation … Continue reading Pre-Budget Report to be ‘dropped’
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’
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
And as if to prove that the entrepreneurial spirit is far from dead, another survey recently revealed that 56% of owner-managers are considering starting a second business based on a hobby such as sports, crafts, or travel!
Recent research shows that owner-managers of small and medium sized businesses have doubled the amount of time they spend growing their businesses compared with six months ago. On average, SME leaders spend almost a third of their working week exclusively focused on planning and delivering growth compared with just 13% of their time six months … Continue reading Are you managing for growth?
If there is one thing we have all learnt from events of the last two years it is that change happens – often without warning, and sometimes with catastrophic consequences. We have also seen how many businesses were blindsided by events for which they were to a greater or lesser extent unprepared. True, there is … Continue reading Lessons from the recession – think the unthinkable
With the new Government starting its first 100 days in office, the half way milestone is the “Emergency Budget” which is scheduled for 22 June. As Government Ministers move from Opposition to Government and assume the reality of their portfolios we are evidencing some proposed changes that were not heralded during the General Election campaign. … Continue reading From 6 May to 22 June