Mercer & Hole’s Business blog - General business

HMRC has published new advisory fuel rates for company cars, which take effect for all journeys on or after 1 March 2011. The new rates are:- Engine Size Petrol Diesel LPG 1400cc or less 14p 13p 10p 1401cc to 2000cc 16p 13p 12p Over 2000cc 23p 16p 17p Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Cathy you can call her on 01908 605552. Email Cathy Corns ...

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HMRC has recently published guidance on, and free tools to assist in, record-keeping for the self employed. The four products have been produced in advance of HMRC's Business Record Checks programme which is due to start later this year.  This is threatened to impose penalties for incorrect record-keeping. The details produced by HMRC are: Keeping records for business - what you need to know: a basic guide with details of where to get more information. A general guide to keeping records for your tax return:  guidance on what records you...

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HMRC has now issued details on the new regional National Insurance Contributions holiday for new businesses. In outline, new businesses set up in qualifying areas, including Northamptonshire, can save up to £5,000 in National Insurance Contributions for each of the first ten employees for the first year of business. The scheme started on 6 September (although not yet enacted) and will apply to businesses set up between 22 June 2010 and 5 September 2013. There are detailed provisions aimed at making sure only new businesses qualify. Full details on the scheme can be found on HMRC’s website. David Mansell is a...

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The Default Retirement Age is being abolished. The Government has launched a consultation on the proposal but with a firm intention that the default retirement age be abolished by October 2011....

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Employees working for a company operating mainly outside of the UK are not able to benefit from the tax breaks offered under the Enterprise Management Incentive (EMI) regulations. The Finance Bill will bring in measures so that employees of a company with a permanent establishment in the UK, even though operating mainly overseas, will be able to benefit from EMI options granted on or after the date that the legislation receives Royal Assent. ...

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HMRC has today posted details of yet another phishing scam in their name. If you have any queries about communications 'apparently' from HMRC, please check before supplying information.  ...

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I am only asking because I recently discovered an updated version of a factsheet produced by HMRC setting out what you need to do if you are unhappy with HMRC's service or the way you have been treated. I just thought it may come in useful.  ...

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The 100% Annual Investment Allowance will be doubled from £50,000 to £100,000 for expenditure incurred by businesses after the start of next month.  For a business with an accounting period straddling the date of change, the allowance is apportioned, pro rata.  ...

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David Cameron has asked for an Independent Office of Budget Responsibility which he says a new Conservative Government will introduce....

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First reactions to the Chancellor's Budget speech today include Nick Robinson's of the BBC.  He commented on the Budget being short on economic and long on political measures. We agree with Nick!...

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