Autumn 2013 Newsletter

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Bourner Bullock Summer 2013 Newsletter

To read our Summer 2013 Newsletter, please click here. This issue includes details of the new cash basis for small businesses, along with an overview of some of the highlights from the Chancellor’s 2013 Budget.

Skills shortage 'hampering UK businesses'

A shortage of skills in key industries is threatening to stifle the economic recovery, according to a survey of almost 300 businesses.  To find out more, read the full article on our website.

New bill of rights 'will benefit businesses and consumers'

Further details of plans to clarify and enhance consumer rights have been unveiled by the Government.  Find out more and read the full article here.

Relaxation of Real Time Information rules extended to 2014

HM Revenue & Customs (HMRC) has announced that the temporary relaxation of its Real Time Information (RTI) reporting rules will be extended until April 2014.  Read the full article here.

Chancellor urged to stimulate business growth ahead of Spending Review

Business groups are calling on the Chancellor George Osborne to stimulate investment and growth ahead of the Government's Spending Review later this month.  To find out more, click here to read the full article.

EU leaders reach agreement on 'tax transparency'

EU leaders have agreed to support the automatic exchange of information between the tax authorities of member states, in order increase transparency in the tax system.  To find out more, click here to read the full article.

Revenue 'will miss tax credit fraud target by £5bn'

HM Revenue & Customs (HMRC) is set to miss its target for reducing fraud and error in the tax credit system by as much as £5bn, a recent report has warned.  Find out more and read the article here.

Politicians urged to avoid 'moral debate' on tax

The Confederation of British Industry (CBI) has urged politicians to avoid the ‘moral debate’ on tax and work together to fix the rules internationally.  Find out more on our website.

Small businesses urged to use the internet to boost sales

The Federation of Small Businesses (FSB) is calling on small firms to boost their sales levels by engaging customers via the internet.  To find out more, click here to read the full article on our website.

Call for age cap on start-up loans to be removed

Access to start-up loans should not be subject to age restrictions, according to a Government aide.  To find out more, click here to read the full article on our website.

New basic bank accounts 'will be available to all EU residents'

Members of the European Union will be able to open a basic bank account in any member state, under new regulations put forward by the European Commission.  Find out more on our website.

British territories sign landmark tax disclosure deals

All British overseas territories with major financial centres have now signed agreements on disclosing tax information, the Government has announced.  Find out more and read the article on our website.

Government relaxes share buy back rules to boost employee ownership

Changes to the current share buy back rules have been unveiled in a bid to boost direct employee ownership and reduce red tape.  Find out more on our website.

Investment in technology a 'key driver for small business growth'

Some 85% of small businesses believe that investment in new technology is a key driver for growth, with the average firm spending £3,500 on technology in the last 12 months, latest research suggests. Find out more on our website.

Study reveals 'surge in cyber attacks on small businesses'

Some 87% of small businesses experienced a security breach last year – up by 10% – according to research commissioned by the Government.  Find out more on our website.

Osborne set to extend Funding for Lending Scheme

The Funding for Lending Scheme (FLS) could be extended as part of Government plans to increase the number of loans made to small and medium-sized businesses, according to latest reports.  Find out more and read the article here.

Revenue issues May Day tax alert

Taxpayers who have not yet filed their 2011/12 self assessment tax return are being urged to do so before 1 May, when additional penalties for late filing will apply.  Find out more and read the full article here.

March freeze hits UK businesses

Some 55% of the UK's small firms have been financially impacted by the recent cold weather, a new study suggests.  Read the article here.

Government launches online toolkit to help start-ups with hiring

An online toolkit designed to help start-up firms take on employees has been launched by the Government. To find out more click here to read the full article on our website.

'Rights for shares' plans are reinstated

The Government’s plan to introduce a new employee ownership scheme has been reinstated, following its previous rejection by the House of Lords.  Find out more on our website.

National Minimum Wage to rise from October

The main rate of the National Minimum Wage (NMW) will rise by 12p to £6.31 an hour from October, the Government has announced.  Find out more on our website.

'Last chance saloon time' for small firms as RTI looms, warns FPB

Small firms are being urged to ‘act now’ ahead of the implementation of the new Real Time Information (RTI) regime, which will start to take effect from 6 April.  Find out more on our website.

Businesses offered tax relief for managing sickness absence

Employers who pay for measures to help their employees return to work after a period of sickness absence could be entitled to tax relief, following measures announced in the 2013 Budget.  Find out more and read the article here.

Budget 2013: Government announces new tax-free childcare scheme

The Government has unveiled plans for a new tax-free childcare scheme in a bid to reduce the cost of childcare for working families.  Click here to find out more.  Make sure you're signed up to our newsletter to receive a round-up of all the details from today's Budget.

Single-tier pension and social care cap brought forward by a year

Plans to overhaul the state pension system will be brought forward by a year, Chancellor George Osborne has announced.  Find out more on our website.

Single-tier pension and social care cap brought forward by a year

Plans to overhaul the state pension system will be brought forward by a year, Chancellor George Osborne has announced.  Find out more and the read the article here.

5 April Year End: Plan to save tax now

To make sure that your finances are as tax-efficient as possible before the 5 April 2013, read our factsheets The 5 April Year End:Plan to save tax now and Planning for Tax Mitigation 2013.  

Employers urged to 'get ready' for Real Time Information

HM Revenue & Customs (HMRC) is urging employers to make sure they are prepared for the introduction of the new Pay As You Earn (PAYE) system, known as Real Time Information, or RTI.  Read our factsheet to find out more.

Ministers call for business tax cuts in forthcoming Budget

As the 2013 Budget draws closer, Chancellor George Osborne is coming under increasing pressure to pledge his support for UK businesses by announcing a series of tax cuts.  Click here to find out more.

New campaign to recoup undeclared profits on second home sales

Residential landlords are the subject of a new HMRC campaign to recoup undeclared profits on the sale of second homes.  Find out more on our website.

Chancellor urged to improve access to finance for SMEs

Chancellor George Osborne must take steps to improve access to finance for small businesses, the Federation of Small Businesses (FSB) has urged.  Find out more and read the full article on our website.

Small business group calls for Budget action on business rates

The Forum of Private Business (FPB) has called on Chancellor George Osborne to scrap the 2.6% increase in business rates planned for April, in his forthcoming Budget.  Find out more and read the article here.

New code to help retirees understand their pension options

Individuals approaching retirement are to be given more guidance to help them make an informed decision about their pension options.  Read the full article on our website to find out more.

Whistleblowers to receive greater protection

Whistleblowers are set to receive greater protection against bullying and harassment in the workplace, following amendments to the Enterprise and Regulatory Reform Bill.  To find out more, read the full article here.

Revenue issues warning over tax rebate emails

HM Revenue & Customs (HMRC) has warned taxpayers not to respond to ‘phishing’ emails regarding tax rebates, as it emerged that taxpayers reported almost 80,000 of the bogus emails last year.  To find out more, read the article here.

Fuel prices 'to reach record levels' by Easter

Fuel prices are set to reach record levels by Easter, according to motoring organisation the AA.  Find out more and read the article here.

Penalty notices sent to 850,000 taxpayers

HM Revenue & Customs (HMRC) is sending out 850,000 penalty notices to taxpayers who have failed to file their self assessment tax returns, or pay any tax owed, by the 31 January deadline.  Read the full article here.

Slow broadband speed 'hampering rural businesses'

Six in 10 rural firms are struggling with the slow speed of their broadband, a survey from the Federation of Small Businesses (FSB) has revealed.  Find out more on our website.

Government could raise income tax allowance 'above £10,000'

Conservative Party chairman Grant Shapps has told the BBC that the Government might consider raising the starting point for paying income tax above the Coalition's stated target of £10,000.  Find out more and read the article here.

Inheritance tax threshold frozen 'until at least 2019'

The inheritance tax (IHT) threshold is set to be frozen until at least April 2019 in order to fund reform of the social care system, the Government has announced.  To find out more, read the article here.

Downturn sparks surge in self-employment

The number of self-employed workers in the UK has risen by almost 10% since the start of the recession, according to the Office for National Statistics (ONS).  Find out more and read the article here.  For advice on setting up your own business, contact us.

Switching accounts will be easier following banking reform, says Osborne

From September individuals and businesses will be able to switch accounts to rival banks within seven days, as part of plans to encourage greater competition in the banking sector.  Find out more on our website.

Decision on fuel pricing 'is a missed opportunity'

The Forum of Private Business (FPB) has expressed disappointment over the decision by the Office of Fair Trading (OFT) not to take further action regarding UK fuel prices.  To find out more, click here to read the article on our website.

HMRC to 'scrap costly 0845 phone lines'

HM Revenue & Customs (HMRC) is planning to axe its premium rate 0845 phone numbers later this year, it has been revealed.  To find out more, click here to read the article.

Government consults on Payroll Giving reform

The Government has launched a consultation on proposals to reform Payroll Giving, in a bid to improve the scheme and increase the number of charitable donations.  To find out more, read the article here.

Small business group calls for action on energy contracts

The Federation of Small Businesses (FSB) is urging the Government to take action against the practice employed by energy companies of rolling over contracts and locking smaller businesses into un-negotiated terms for a further 12 months.  Find out more on our website.

Business leaders react to decision on EU referendum

Business leaders have given their reactions to Prime Minister David Cameron’s promise of an EU referendum, with many endorsing the move.  Find out more on our website.

Inflation 'creates risks' for UK economic recovery

The British Chambers of Commerce (BCC) has warned that rises in inflation over the coming months could jeopardise the UK’s economic recovery.  Find out more on our website.

Business responds to Government's mid-term review

Business groups have given their responses to the Government’s mid-term review, which reports on the progress made by the Government in implementing the Coalition agreement.  Find out more and click here to read the article.

Child benefit changes come into effect

Changes to the child benefit system have now come into effect, meaning that more than a million families will lose some of all of their benefit, while many thousands of taxpayers will be required to file a self assessment tax return for the first time.  Click here to find out more.

Business group calls for 'new global trading role' for UK

The Confederation of British Industry (CBI) has called on the UK to carve out a ‘new global trading role’ for 2013.  Find out more on our website.

Government's Start-Up Loans scheme is extended

A Government scheme aimed at encouraging young people to start a new business is to be extended, Downing Street has revealed.  To find out more click here to read the article on our website.

Happy New Year!

We would like to wish all of our clients a contacts a very happy and prosperous 2013.  With the arrival of the New Year, why not make a resolution to review your business and personal financial planning strategies?  Click here to find out how we can help.