Employment tribunal system needs an overhaul

The CBI has described the employment tribunal system as slow, legalistic and antagonistic in its submission to the Government’s consultation on reforms to the way that workplace disputes are resolved. The business group said it wants to see a major overhaul of the system aimed at making the process faster, fairer and less costly. Specifically,[…]

Early access to pensions ruled out

People won’t be able to dip into their pensions early. The Government had been consulting on the possibility of giving people access to their pensions before they retire. One aim of the proposal was to encourage younger people to save more by removing the disincentive of locking up funds for long periods of time. However,[…]

Firewall those great new ideas

Baroness Wilcox, the minister for intellectual property, has urged all innovative firms to safeguard their inventions and concepts from theft by registering them with the Intellectual Property Office (IPO). The minister argued the case for the importance of patents and trademarks as a way of ensuring that designs, which often involve a significant investment in[…]

A new tax address

To speed up the handling of post, HM Revenue and Customs (HMRC) has announced that it is changing the addresses shown on PAYE and self assessment forms and letters. These forms and letters currently show different tax office names and addresses which taxpayers use when they write to HMRC about their tax affairs. As a[…]

Posted in Tax

Improve tax breaks to boost workplace savings

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[…]

Drop in sick leave

Coping with the time that employees take off sick can be a major issue, especially for smaller employers. So it might come as good news to learn that the average amount of sick leave in the private sector appears to be on a downward trend. The Health Sickness Absence survey 2011, carried out by the[…]

Selling your business?

The impact of the current economic climate and the fact that many baby boomers are now retiring is having an increasing effect on the number of business owners looking to sell and pursue other interests. The effect of government policies, turbulence of stock markets, low savings returns and the lack of available finance for business[…]

Directors’ Responsibilities

Directors are appointed to manage and run limited companies. With that comes a range of serious responsibilities: some specific to the abilities of the individual while others are a matter of legal obligation. This guide concerns itself with the latter. The duties of company directors have previously evolved through statute and case law. The Companies[…]