| Avoid
the Inheritance Tax Traps |
Weybridge based Chartered
Accountants, TWP , are
advising local business owners and families
to ensure their inheritance plans are
adequate following high profile cases
and clampdowns.
This month saw the news that sisters
Joyce and Sybil Burden have gone to the
European Court of Human Rights to avoid
selling their house if one of them dies
- a prospect they fear under present
inheritance tax law.
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full article
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| New
Fire Safety Regulations |
New guidance has been published
on the Regulatory Reform (Fire Safety)
Order 2005 which is due to come into
force on 1 October 2006. The Department
for Communities and Local Government
(DCLG) has published guidance explaining
what businesses need to do to comply
with the new rules.
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| Guidance
on Inheritance Tax |
Previously we have reported
on the changes to inheritance tax (IHT)
and trusts, which were announced in the
Budget and caused great controversy.
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| Postal
Changes |
The postal charging changes
came into effect from 21 August 2006.
You should have received details of the
new sizing guide direct from the post
office.
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| Employer
Supported Childcare |
HMRC have issued revised guidance to
employers on the tax and NIC free provision
of childcare. The guidance has been updated
to take into account the increase in
the tax and NIC free limit from £50
to £55 a week which came into effect
from 6 April 2006.
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HMRC
Letters |
As in previous years, HMRC
offices will be sending out letters over
the next few weeks with advice for small
businesses on calculating business income
for the purposes of self assessment.
The letters have been criticised in the
past for giving the impression to taxpayers
that there was something wrong with their
tax returns.
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| UK
Business Get Tough on Debt |
Research from the Credit
Services Association (CSA) suggests that
British businesses are resorting to the
courts at an early stage in order to
recover debts. This is despite the fact
that taking such action is likely to
destroy business relationships.
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Businesses
Frustrated by Youth Skills |
As A-level and GCSE results
are released, David Frost, Director General
of the British Chambers of Commerce (BCC),
described the frustration businesses
feel about the lack of youth skills in
the UK:
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| Women
Urged to Save for Retirement |
A couple of months ago
we reported on the Pensions White Paper
which looks at many proposals for pension
reform.
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Employers
Incorrectly Advised of Underpayments |
HMRC have published guidance
on their website that they have incorrectly
advised some employers they have underpaid
their PAYE/NIC payments for the year
ended 5 April 2006.
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full article
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