Budget 2012: your money highlights

Budget 2012 included a series of announcements that could affect your finances. Highlights included: The personal allowance will increase to £9,205 in April 2013, putting the Government on track for its £10,000 target. The 50% additional tax rate will reduce to 45% from 2013, after the new rate caused ‘massive distortions’ and raised just one[…]

Will you be an HMRC taskforce target?

HMRC is launching thirty new taskforces in 2012/13 to crackdown on those businesses it believes are likely to attempt to evade tax. Likely targets include the textiles industry, the motor trade, and indoor and outdoor markets, according to HMRC. The taskforces are regional, and HMRC expects to collect more than £50 million as a result[…]

Posted in Tax

HMRC gets smarter on smartphones

HMRC finally changed its stance on smartphones like the iPhone and Blackberry last month, and they now qualify as ‘mobile phones’. This means that smartphones will no longer be treated as a Benefit in Kind, and can be provided to employees without incurring tax. The change in stance means that smartphones provided for 2011/12 can[…]

Budget 2012: Business highlights

Budget 2012 was designed to prove that the UK ‘unashamedly backs businesses’ according to Chancellor George Osborne. Some of the measures announced include: The main rate of corporation tax reduced to 24 per cent from April 2012 – One per cent lower than announced in last year’s Budget. Plans to move to a simpler ‘cash[…]

Red Tape Regulation

New business regulations come into effect on two common commencement dates (CCDs) in April and October each year. Below is our summary of some of the upcoming legislation changes that may affect you and your business from April 6 2012. According to Government reports, UK businesses stand to save around £4.17 million if it sticks[…]

HR Update: Spring 2012

Preparing to Conduct an Appraisal Most organisations now recognise the importance and benefits of staff appraisals. For appraisals to be effective there is however a need for proper preparation. We consider some tips for preparing to conduct an appraisal. 1.  In advance of the appraisal The responsibilities outlined in a job description are an ideal[…]

Posted in HR