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JUNE News

VAT Rule Breakers Targeted

HM Revenue & Customs (HMRC) has announced it is to target individuals and businesses who are trading above the VAT threshold but have not registered for VAT in a new drive against rule breakers.

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Cheque Guarantee Card Scheme Closes

The UK cheque guarantee scheme, for businesses and individuals using cheques to make or receive payments, will close on 30 June 2011.

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TUPE Rules Included In Employment Law Review

The government has announced new areas it will consider reforming as part of its ongoing review of employment red tape, including the rules protecting employees’ terms and conditions of employment when a business changes hands.

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Bribery Act Takes Effect on 1 July

Time is ticking away for businesses to make sure they have taken the steps appropriate to their operations to prepare for the Bribery Act, which comes into effect on 1 July 2011.

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Flexible Working Consultation Launched

The Government has launched a consultation on plans to introduce a new system of flexible parental leave from 2015.

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Health and Safety Rules Blocking New Jobs, Says Report

A new report from the British Chambers of Commerce (BCC) says nearly half of employers believe that health and safety rules are making their lives more difficult.

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First Automatic Pension Enrolment Letters Go Out

The Pensions Regulator has started writing to the first employers who will need to automatically enrol employees into a workplace pension scheme to remind them of their new responsibilities.

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New Growth Fund Opens for Business

A new Business Growth Fund (BGF) has been launched to help Britain’s smaller and medium sized businesses with an annual turnover of around £10 million to £100 million.

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MAY News

Thousands Rise To Red Tape Challenge

Thousands of businesses are taking up the government’s challenge to comment on more than 21,000 rules and regulations that affect their lives.

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US Offers Tax Disclosure Opportunity

American citizens and green card holders living in the UK are required to file annual tax returns and other information to the Internal Revenue Service (IRS).

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Government Says No To Early Access to Pension Savings

The government has decided to rule out further consideration of early access to pension savings for the time being.

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Regional Growth Fund Set To Boost Job Creation

More than 100,000 new jobs are set to be created and safeguarded under government plans to invest £450 million in businesses across England.

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New Minimum Wage Rates Set

The government has accepted the independent Low Pay Commission’s (LPC) recommendations for this year’s National Minimum Wage (NMW) rates.

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Don’t Forget To PAYE on Time, Says HMRC

HM Revenue & Customs (HMRC) has issued a reminder on due dates for PAYE payments made electronically.

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New Late Filing Penalties in Place

Taxpayers could find themselves paying a high price for submitting late tax returns under a new penalty regime introduced in April.

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APRIL News

Round-Up of Budget Reaction

Chancellor George Osborne delivered the 2011 Budget on 23 March, saying he intended to “put fuel into the tank of the British economy”. With the implications of the Budget still sinking in, this round-up of some key points also looks at the response to the measures.

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Online Filing Plans under Fire

Record numbers of people completed their self assessment tax returns online this year, HM Revenue & Customs (HMRC) has revealed.

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Cable Plans Shake-Up of Audit Rules

Business Secretary Vince Cable says the government will remove audit requirements from thousands of smaller businesses.

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HMRC Seeks Views on Website

HM Revenue & Customs (HMRC) has launched an online survey of its website, www.hmrc.gov.uk

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R&D Brings Tax Benefits

Thousands of companies are benefiting from research and development (R&D) tax credits, according to new figures from HM Revenue & Customs (HMRC).

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Businesses Offered Chance to Slash Red Tape

Businesses are being urged to get involved in government moves to reduce the burden of red tape.

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Employers Set To Say ‘You’re Hired’ To More Apprentices

Business organisations have welcomed plans, announced in the March Budget, to increase the number of apprenticeships over the next four years.

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HMRC Told ‘Go Back To Drawing Board’ On Record-Keeping Drive

A proposal by HM Revenue and Customs (HMRC) to start making large-scale checks of business records before relevant tax returns are submitted is misguided, according to the Chartered Institute of Taxation (CIOT).

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March News

Reminder on Tax Code Notice Change

Taxpayers are reminded that copies of the notices informing them of their tax code for the year 2011-2012, sent out during January, February and March, will no longer go to their tax agent or advisor.

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Record Numbers File Online

Record numbers of people completed their self assessment tax returns online this year, HM Revenue & Customs (HMRC) has revealed.

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Childcare Support Changes

Businesses are reminded that the rules on employer-supported childcare will change for higher and additional rate taxpayers from 6 April 2011.

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Time Running Out on Retirement at 65

Employers are reminded that they only have a limited time remaining to set in motion procedures to retire staff at the age of 65.

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Time to Pay Rejection Rate Rises

The percentage of Time to Pay requests refused by HM Revenue & Customs (HMRC) in 2010 was more than double the rate in 2009, according to new statistics.

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Right to Request Flexible Working Extended

Workers’ right to request flexible working is to be extended under a change to be introduced from 6 April, businesses are reminded.

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Whitehall Rapped on Quality of Case for New Business Regulations

An independent watchdog that reviews government proposals for new regulations affecting businesses says a “worryingly high proportion” fail to make a strong enough case.

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Time Running Out on State Pension Top-Up Offer

Around 70,000 people, mainly women, have until 5 April to boost their basic state pension and get backdated payments.

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‘Game Up’ Warning on Offshore Non-Compliance

New penalties of up to 200 per cent could be imposed on anyone hiding money offshore, HM Revenue & Customs (HMRC) has warned.

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Deliberate Defaulters Told ‘Taxman Will Be Watching You’

Tax cheats have been warned they face up to five years of detailed scrutiny by HM Revenue & Customs (HMRC).

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Company Car Changes Go Electronic

An important change to the way employers notify HM Revenue & Customs (HMRC) about replacement company cars will take effect from April 2011.

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February News

Businesses Share Common Concerns on Tax

A series of roadshows organised by the Office of Tax Simplification (OTS) has highlighted key areas of small business taxation that those affected say need to be reviewed or simplified.

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SMEs Count Fraud Toll

Fraud costs small and medium-sized enterprises an average of £2,800 a year each, according to new statistics from the National Fraud Authority (NFA).

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Tax Appeals May Be Worth Pursuing

Taxpayers appealing against HMRC decisions or penalties on technical issues or for late or inaccurate filing of VAT returns have a better than 50:50 chance of success, according to recent statistics.

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HMRC Denies National Insurance Problem

HM Revenue & Customs (HMRC) has hit back at suggestions that more than £1.3 billion in national insurance contributions (NICs) has been lost.

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Tax Experts Offer Help on Underpayment Letters

The Low Incomes Tax Reform Group (LITRG) has issued guidance on what action to take if someone receives a tax calculation letter for the 2007-08 tax year from HM Revenue and Customs (HMRC).

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Employers Offered Guidance on Pension Changes

Employers are being offered extra help to get to grips with new responsibilities under workplace pensions reform.

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Consultation Begins In Bid to Cut Employment Tribunals

The government has launched a new consultation on plans improve the way in which workplace disputes are resolved.

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New Parental Leave Plan Unveiled

The government has announced more details of shared parental leave arrangements designed to help families balance work and life commitments.

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Located in Codsall, Wolverhampton we are an independent firm of Chartered Certified Accountants, business advisers and tax specialists.