Category Archives: Business Anecdotes

David Heaton is “bumped” out of HMRC after offering tips on how to keep money “out of the Chancellors grubby mitts”

David Heaton is “bumped” out of HMRC after offering tips on how to keep money “out of the Chancellors grubby mitts” David Heaton was filmed at a London conference entitled “101 ideas for Personal Tax Planning”, his tips included a …

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Financial Independence

by Ray Best. Retiring and achieving a decent lifestyle is achievable for most people if you know how … Politicians have created a boom or bust economic environment in the UK over the years, often using the housing market as …

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Directors’ powers and financial liabilities

Being a director has its rewards and its responsibilities. Whether you are appointed to the board of the company you work for or from establishing a new business yourself, taking on the role of director gives you a sense of …

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Ring a Ding-Dong – Telephone scams ring wrong numbers for business owners and private organisations?

Channel 4 reported some months ago that international fraudsters are targeting UK businesses with a highly lucrative telephone hacking scam. This criminal enterprise, run by overseas hackers, uses widely available sophisticated software to infiltrate an organisation’s phone exchange. The software …

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Salary, Bonus or Dividends – Which is the best to pay yourself?

Tax rates change regularly, so it is wise to regularly check whether it will be cheaper for your company to pay a dividend rather than a salary. Recent changes mean that: The personal tax allowance has increased to £8,105 as have the lower limits for National Insurance bands. To preserve entitlement to state benefits pay a salary between £107 and £144 per week, this also avoids Employers NICs.

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New pensions legislation, is this the final nail in the coffin for small firms?

Small businesses reacted with anger to the announcement of a vast national pension scheme forcing firms with as little as two employees to contribute towards staff pensions, as early as 2012.. The coalition was applauded for pressing ahead with Labour …

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Businesses reminded of looming VAT increase

There are now only two months remaining before the standard rate of VAT climbs from 17.5 per cent to 20 per cent, and VAT-registered businesses are being urged to ready themselves for the change. The increase was announced in June’s …

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Government opens debate on corporate governance

Vince Cable, the Business Secretary, took the opportunity of his address to the CBI annual conference to launch a review of the way the UK companies are run. Announcing the review, entitled A Long Term Focus for Corporate Britain, Mr …

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Call to reform IR35 rules

The government should act to change the rules governing the tax status of contractors, the Institute of Directors (IoD) has said. The call came in the IoD’s submission to the Office of Tax Simplification which has been briefed by the …

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Government promises plans for growth

The government has outlined plans for £200 billion of investment in infrastructure projects in the UK as part of a strategy for economic growth and recovery. Addressing the CBI conference, the Prime Minister, David Cameron said that the national Infrastructure …

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Help for smaller firms to cut their carbon emissions

The Carbon Trust Standard has made it easier and more cost effective for the UK’s SMEs to cut their carbon footprints and to reduce their energy costs. It has introduced a new online application process that is specifically designed to …

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VAT rise cost businesses as much as decrease

The cost to business of the increase in VAT to 17.5 per cent in January was as high as the earlier drop to 15 per cent, a new survey has found. The study, which was carried out on behalf of …

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Inflation could mean higher increase in business rates

Firms could be faced with a large increase in business rates next year, a leading business group has warned. Under the present system, the Retail Price Index (RPI) rate of inflation for September is used to determine the annual rise …

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Call to improve research and development tax breaks

The government needs to boost the level of tax breaks available for firms that invest in research and development. The call came from entrepreneur and inventor, Sir James Dyson. Addressing the Rolls Royce science prize ceremony in London, Sir James …

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Recession takes its toll of training budgets

The economic downturn has had a significant impact on the funds invested by businesses in training. Spending on skills development has plummeted by 52 per cent over the past year, according to the Chartered Institute of Personnel and Development’s (CIPD) …

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Call to drop fuel duty increases

Planned rises in fuel duty should be scrapped, a business group has urged. With fuel prices hitting record highs, the Forum of Private Business (FPB) has called on the government to reconsider its intention to introduce two further rises in …

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Employees get right to ask for training

As from 6 April, many employees have the right to ask their employers for time to train. The new regulation covers businesses that employ more than 250 people, although the right will be extended to include all employees from April …

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Credit still proving elusive for smaller businesses

Figures released by the Bank of England have suggested that small firms are finding it as difficult as ever to secure lending from the banks. The Bank of England’s latest credit survey found “little changed” in terms of bank lending …

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Businesses may face imminent rates increases

Firms are being reminded that April could see a number of possible rises in business rates. The British Retail Consortium (BRC) has said that the latest rates revaluation, which is conducted in England every five years and is based on …

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Economy emerged from recession at slightly faster rate

The UK economy grew more than had been previously estimated in the final quarter of 2009, new official figures have revealed. According to the Office for National Statistics (ONS), GDP was up by 0.4 per cent between October and December, …

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