Growing your business in the current economic climate is challenging to say the least. As such, businesses need to think of new, often more radical ways of growing their revenue. Cost cutting is a quick and easy fix – less cost in a more efficient business generates a greater profit. This works, as long as […]
HMRCs accounts – report by Committee of Public Accounts
The following statement was published on the UK Parliaments website 2 July 2013. Please note that the tax gap referred to in Margaret Hodge’s remarks is the difference between tax due and tax collected. A statement from The Rt Hon Margaret Hodge MP, Chair of the Committee of Public Accounts: These accounts give us a […]
David Cameron announces �1m prize for innovation challenge
British cosmologist and astrophysicist Martin Rees has been charged with identifying a modern day Longitude Prize – this was set by the British Government in 1714 and promised £20,000 to the person who mastered the challenge of calculating longitude at sea. At the recent G8 conference Cameron is quoted as saying: “What the world needs […]
Bank of England’s new boss starts this week.
The appointment of Mark Carney as the new governor of the Bank of England has received guarded approval from the financial press this week who hope that he will take a more active role in stimulating the UK economy. The Bank of England interest rate setting committee is meeting Thursday this week and is expected […]
National Minimum Wage from 1 October 2013
Employers please note that the National Minimum Wage rates are increasing from 1 October 2013. They will be: Apprentice rates: £2.68 per hour. * But see note below. Under 18s: £3.72 per hour. 18 to 20 years: £5.03 per hour. Age 21 years and over: £6.31 per hour. *This is the rate for apprentices under […]
Use of LLPs and partnerships is under HMRC microscope.
The Budget 2013 included a stated intention that HMRC would be enabled to take a fresh look at the possible manipulation of profit and loss allocations from partnerships to secure a tax advantage. HMRC has since published a formal consultation on anti-avoidance legislation for LLPs. The effective date for proposed legislative changes is April 2014. […]
Using vehicles for business and private purposes
There are a number of circumstances where care needs to be taken in the way in which claims are made for the business use of a vehicle, usually a car, which has duality of use – business and personal. We have listed below a few issues that businesses and private car owners should be aware […]
International tax and transparency
Readers may be interested to take a look at the conclusions reached by the recent G8 meeting at Lough Erne, Northern Ireland. Their full declaration is set out below: the aim is to improve tax transparency and to bring the international tax system into the modern age. The G8 Lough Erne Declaration – issued 18 […]
Management Communication
Communication is as much about non-verbal communication and listening as it is about speaking. Here are some crucial concepts that managers often forget: Listen with intent Most of us believe we have great listening skills. The fact is, most of us don’t listen well at all. Effective managers purposefully listen. They can easily change how they […]