HMRC’s annual automatic review, or ‘reconciliation process’, which calculates whether individuals have paid the correct amount of tax through its Pay As You Earn (PAYE) service is now underway, nearly two months earlier than usual; leaving millions in anticipation for a tax rebate, or a nasty surprise for those who may owe the tax man.[…]
Figures from the Insolvency Service last month indicated that the number of company insolvencies increased in the first quarter of 2012, with more than 4,000 firm liquidations. Despite the number of personal insolvencies decreasing, it is claimed that most business insolvencies occur as a result of management missing key indicators. Impending problems which could lead[…]
HMRC first published advisory fuel rates in 2002, allowing businesses to reimburse employees for work related travel, or when employees are required to repay the cost of fuel used for private travel, in company cars. HMRC allows businesses to reclaim the VAT element on fuel mileage allowances, as long as they are close to its[…]
The number of temporary agency contractors has risen sharply in recent years, with over a quarter of a million contractors now working in the UK; the majority of whom work in the private sector. Businesses may stand to gain from using contractors to carry out short term work, or when specialist skills on specific projects[…]
“Everything in life is somewhere else, and you get there in a car.” E. B. White Company cars remain an important tool in rewarding, attracting and retaining staff. It therefore comes as no surprise that the Government views the provision of company cars by employers to their employees as a lucrative source of revenue for[…]
When a business bids for a job, usually you will draw up a quotation or an estimate and the contract will be negotiated on that basis. But for large jobs, extended periods of supply, and most public sector contracts, a more formal process of tendering may be required. It is advisable to carefully weigh up[…]