Announcement will speed up changes following a movement in market rates

HM Revenue & Customs (HMRC) have announced that they will not incur any interest cost on money owed to people who have overpaid tax, despite charging an interest rate for those who owe HMRC.

It’s good to talk

The number of companies going out of business in this economic downturn is being attributed to a toxic combination of markedly slowing demand, elevated input costs and very tight credit conditions.

Is part of your residence being used for business purposes?

From April 2009, new laws will provide HM Revenue and Customs (HMRC) with the power to visit home-based offices. Tax inspectors can visit a home if part of the residence is being used for business purposes, which is likely to impact on thousands of people who now remotely work or run their small business from their home residence.

Make sure you are one of the survivors

There is little doubt that 2009 will be a tough year for many businesses. So it is essential to ensure that you have the right strategy in place to make sure you are one of the survivors when the economy eventually recovers.

Surviving the economic downturn

The current credit crisis and economic downturn have forced businesses of all sizes to be even more focused on their financial positions. The survival of many businesses will be dependant on their ability to address some key fundamental issues during these challenging times.

How has your business been affected?

The majority of small businesses have been affected by the change in the rate of VAT. The change in the standard rate of VAT from 17.5 per cent to 15 per cent came into force on 1 December last year and for many businesses has been an administrative hassle.

Temporary reprieve from controversial new tax rules

Business groups have welcomed the decision to give hundreds of thousands of family businesses a temporary reprieve from the controversial new tax rules governing the way that they distribute their profits.

Raising additional capital to cope with a lack of money

Small businesses are looking to raise additional capital to cope with a lack of money, research finds, with traditional bank lending still their preferred option. The most challenging issue for small businesses in the current climate is late payment, according to a survey.

Sector seeks a postponement to VAT changes

Government ministers have confirmed that they intend to proceed with the planned changes in VAT, which would make it more expensive to hire temporary workers.

Deferral of rate increase a much welcomed reprieve

The small companies’ rate of corporation tax was due to increase from 21 per cent to 22 per cent with effect from 1 April 2009. This increase has now been deferred until 1 April 2010.

It’s official, we’re in recession

Official statistics have confirmed what we already knew last year, the UK economy is officially in recession. This has also fuelled speculation that the Bank of England could eventually reduce interest rates to zero.

One-minute check list of the most common errors

There are a number of common errors that occur when filling in a Company Tax Return form (CT600). In particular, check that:

How much energy does your business use?

Environmental issues are becoming important to all businesses as the amount and scope of environmental legislation increases. With stakeholders such as employees, customers, suppliers and investors taking environmental issues more into account in their decision making, there’s now every reason for seeing this as a business opportunity.

A solution for your specific requirements and financial objectives?

Unlike a traditional personal pension, a Self-Invested Personal Pension (SIPP) may offer for appropriate investor’s far greater flexibility in terms of the assets that can be held within its wrapper. A SIPP enables investors to spread investment risk across various asset options, but also to select investments that meet any specific requirements and financial objectives set.