News for October
Pre-Budget 2007 Summary
With Gordon Brown now in the top seat, the eyes of the nation were on Alistair Darling as he delivered his first pre-budget report. The will-they-won’t-they speculation surrounding the election, plus some tax cuts promises from the opposition meant that Darling had to deliver some potentially vote-winning changes.
Construction Industry Scheme Penalties
The Construction Industry Scheme (CIS) was significantly changed from 6 April this year when monthly returns were introduced for contractors. The CIS300 return details the payments made to subcontractors and any tax deducted from those payments.
Phishing Scams
HMRC have updated their guidance on so-called 'Phishing' scams targeting taxpayers in an effort to fraudulently obtain personal information from them.
Back To School With Tax Credits
Claimants of tax credits are being reminded by HMRC that they must let them know of changes in their family circumstances within one month of the change.
Imperial Weights And Measures To Remain Legal
British businesses are to be allowed to continue to sell goods in pounds and ounces. After years of wrangling between the UK and the European Commission (EC), it has been agreed that the UK does not have to abandon imperial measurements entirely and replace them with metric only measurements.
Tips May Be Part Of National Minimum Wage
A tribunal has ruled that in certain circumstances tips given to employees count towards the National Minimum Wage (NMW). A group of London food businesses took the case to court after HMRC claimed that some staff had not been paid the NMW between 2000 and 2003.
NMW Rates Set To Rise
National Minimum Wage (NMW) rates are set to rise again from 1 October 2007.
24 Days Annual Holiday Entitlement
Employees minimum annual holiday entitlement is increasing from 1 October 2007. The holiday entitlement will increase to 4.8 weeks (24 days if employees work a five day week) from 1 October 2007 and to 5.6 weeks (28 days if employees work a five day week) from 1 April 2009.
VAT On Home Computers
HMRC have issued guidance on a change in their policy regarding VAT recovery on computers. The rules affect computers which are made available by employers to their employees for their personal home use.
