Business News - August 2007

The long running saga of Geoff and Diana Jones and their company, Arctic Systems Limited, has recently been back to the courts for the final time to the House of Lords.

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The Health and Safety Executive (HSE) publish a series of myths of the month for businesses. The myth for July, which businesses need to be aware of, is that all office equipment must be tested annually by a qualified electrician. The HSE states that in reality employers are required to assess risks and take appropriate action.

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HMRC have started a consultation on the way in which they pursue individuals who do not pay their tax liabilities on time. The proposal, which would result in HMRC taking money owed directly from an individual’s bank accounts, would aim to tackle the problem of approximately 200,000 people who are pursued through the courts each year for outstanding tax.

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HMRC have been made aware of certain so-called 'Phishing' scams targeting taxpayers in an effort to fraudulently obtain personal information from them.

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HMRC have issued advisory fuel rates for company car drivers. These take effect for all journeys undertaken from 1 August so employers should advise affected employees and update any expense forms as soon as possible.

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Recently in enews we reported what has been widely reported in the press as HMRC’s ‘Tax Amnesty’. As previously explained the term amnesty is misleading as it only applies to the penalty that would be charged on undeclared tax relating to the offshore accounts, which HMRC have promised to cap at 10% if a voluntary disclosure is made. HMRC could in theory impose a 100% penalty. The tax and penalties due will need to be paid by 26 November 2007.

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