Survey aims to find business view of new 50 per cent tax rate

24 Oct 2009


14 September 2009

Will the UK’s new 50 per cent income tax rate for high earners raise the additional revenue the government needs to restore its balance sheet?


 

Behaviour is the Key to Avoiding Flash-in-the-Pan Results

17 Sep 2009


Good leadership comes from behaviour, not just intelligence or personality, according to a leading management expert.


 

UK Small Business Owners Driving Flexible Working

16 Jul 2009


A new study published this month, “Worldwide Workplace: The Web Commuting Imperative”, reveals how UK small business owners are recognising the role of flexible working practices in business, with almost two-thirds (62%) actively supporting remote working. The independent research, commissioned by Citrix Online, also shows 84% believe offering flexible hours is essential to running a successful business, with 46% stating flexible hours as the key to attracting and retaining the best talent.


 

Osteopaths Stress Importance of Health in the Work Place

15 May 2009

An estimated 12.3 million working days are lost every year through work-related health problems. With the current economic downturn people are increasingly aware of the need to prove their own efficiency in the work place and their health may be suffering. Long hours sat at a desk hunched over the computer screen can in the long term cause more problems than just the initial aches and pains. 


 

One Phone, Two SIMs

15 May 2009

At last the geeks have realised that home and work need to be interchangeable and easy, as Tattu Mobile announce the launch of the TS500 dual SIM multimedia mobile phone, which lets users to make and receive calls on either one of two SIM cards housed inside the phone.


 

BT Business reveals 42% of workers say they could be more productive out of the office

15 May 2009

BT Business and Nortel have revealed new independent research* statistics showing that less than one in ten (8%) of the UK's businesses trust their employees to work out of the office - despite the 42% of workers who are confident that they could do a better job remotely.


 

New regualtions could cost small businesses up to £800 million

18 Mar 2009

The Federation of Small Businesses (FSB) argues that new regulations planned for the spring should be held over until later in the year as they could cost small businesses up to £800 million.


 

Publisher's Tips to Help You Survive the Recession

05 Mar 2009


If you publish a newsletter, magazine or catalogue, you'll be aware that prices for paper pulp, ink, transportation and postage have all risen in the last 12 months. 


 

BT Business reveals 42% of workers say they could be more productive out of the office

05 Mar 2009


BT Business and Nortel have revealed new independent research* statistics showing that less than one in ten (8%) of the UK's businesses trust their employees to work out of the office - despite the 42% of workers who are confident that they could do a better job remotely.


 

Date for claiming VAT refunds approaches

05 Mar 2009

If you are VAT registered, the date by which you can claim a refund on past VAT payments is 31 March 2009.

 

Tax tips for home-based businesses

14 Feb 2009

The economic downturn will result in more business owners working from home, according to Target Chartered Accountants.


 

Over half UK set to increase ecommerce spend for Christmas 2009

14 Feb 2009

Third annual Logan Tod Online Shopping Index reveals increased satisfaction and rising ecommerce uptake from older demographics are driving growth

 

UK Broadband Demand Not Far Ahead of Supply

14 Feb 2009

The initial findings of Ofcom's report 'Consumer experience of broadband performance', released this week, look likely to cause a stir.


 

Franchising Starts to Prosper Due to Recession

30 Jan 2009

2009 is predicted to be a boom year for the franchise industry according to specialist consultancy Franchise Development Services (FDS). 


 

Income tax won't help the self-employed

04 Dec 2008

While talk of income tax cuts may seem a welcome solution to the current economic crisis, they would do nothing to help the immediate plight of the 3.8 million self employed workers, who won't see any benefit until January 2010, according to experts at The Tax Advice Network.


 

Work - Home Business News Archive

Survey aims to find business view of new 50 per cent tax rate

24 Oct 2009


14 September 2009

Will the UK’s new 50 per cent income tax rate for high earners raise the additional revenue the government needs to restore its balance sheet?


 

Behaviour is the Key to Avoiding Flash-in-the-Pan Results

17 Sep 2009


Good leadership comes from behaviour, not just intelligence or personality, according to a leading management expert.


 

UK Small Business Owners Driving Flexible Working

16 Jul 2009


A new study published this month, “Worldwide Workplace: The Web Commuting Imperative”, reveals how UK small business owners are recognising the role of flexible working practices in business, with almost two-thirds (62%) actively supporting remote working. The independent research, commissioned by Citrix Online, also shows 84% believe offering flexible hours is essential to running a successful business, with 46% stating flexible hours as the key to attracting and retaining the best talent.


 

Osteopaths Stress Importance of Health in the Work Place

15 May 2009

An estimated 12.3 million working days are lost every year through work-related health problems. With the current economic downturn people are increasingly aware of the need to prove their own efficiency in the work place and their health may be suffering. Long hours sat at a desk hunched over the computer screen can in the long term cause more problems than just the initial aches and pains. 


 

One Phone, Two SIMs

15 May 2009

At last the geeks have realised that home and work need to be interchangeable and easy, as Tattu Mobile announce the launch of the TS500 dual SIM multimedia mobile phone, which lets users to make and receive calls on either one of two SIM cards housed inside the phone.


 

BT Business reveals 42% of workers say they could be more productive out of the office

15 May 2009

BT Business and Nortel have revealed new independent research* statistics showing that less than one in ten (8%) of the UK's businesses trust their employees to work out of the office - despite the 42% of workers who are confident that they could do a better job remotely.


 

New regualtions could cost small businesses up to £800 million

18 Mar 2009

The Federation of Small Businesses (FSB) argues that new regulations planned for the spring should be held over until later in the year as they could cost small businesses up to £800 million.


 

Publisher's Tips to Help You Survive the Recession

05 Mar 2009


If you publish a newsletter, magazine or catalogue, you'll be aware that prices for paper pulp, ink, transportation and postage have all risen in the last 12 months. 


 

BT Business reveals 42% of workers say they could be more productive out of the office

05 Mar 2009


BT Business and Nortel have revealed new independent research* statistics showing that less than one in ten (8%) of the UK's businesses trust their employees to work out of the office - despite the 42% of workers who are confident that they could do a better job remotely.


 

Date for claiming VAT refunds approaches

05 Mar 2009

If you are VAT registered, the date by which you can claim a refund on past VAT payments is 31 March 2009.

 

Tax tips for home-based businesses

14 Feb 2009

The economic downturn will result in more business owners working from home, according to Target Chartered Accountants.


 

Over half UK set to increase ecommerce spend for Christmas 2009

14 Feb 2009

Third annual Logan Tod Online Shopping Index reveals increased satisfaction and rising ecommerce uptake from older demographics are driving growth

 

UK Broadband Demand Not Far Ahead of Supply

14 Feb 2009

The initial findings of Ofcom's report 'Consumer experience of broadband performance', released this week, look likely to cause a stir.


 

Franchising Starts to Prosper Due to Recession

30 Jan 2009

2009 is predicted to be a boom year for the franchise industry according to specialist consultancy Franchise Development Services (FDS). 


 

Income tax won't help the self-employed

04 Dec 2008

While talk of income tax cuts may seem a welcome solution to the current economic crisis, they would do nothing to help the immediate plight of the 3.8 million self employed workers, who won't see any benefit until January 2010, according to experts at The Tax Advice Network.


 
 

Tax tips for home-based businesses

14 Feb 2009

However, whether they are established businesses that are giving up their office space as part of a cost-cutting programme or people who have been made redundant and are setting up by themselves, they should ensure they are claiming tax relief if they are to enjoy the full benefit.


Andrew Wilson, head of corporate and business tax with Target in the Midlands, explains: "Business owners who use their home for business purposes can claim a proportion of the costs - even if it is only for one room of the house for part of the time, as it usually is for most of them.


"HMRC has recently confirmed that businesses can claim for mortgage interest and for people who do have a large mortgage, the tax relief can be significant. Other eligible costs include rental, council tax, home insurance, repairs and energy bills."


Andrew says that the relief can be claimed by businesses which operate as a sole trader, partnership or limited company. For a company to achieve maximum benefit it should pay an annual rent for partial use of the premises. The company is able to claim corporation tax relief on the rental payments.


While the rental income received is subject to income tax and individuals will need to report it on their personal tax return, as it can be offset by expenses attributable to the business use of the office, in practice there may be little or no tax to pay.


Business owners who do use this strategy should ensure the rent charged does not exceed a commercial rent - this can be checked by having an independent rental valuation by a qualified professional or obtaining comparative charges from a local serviced office. The level of rent should be reviewed annually and invoiced to the company.


Andrew adds: "People are sometimes concerned about claiming relief because they fear that, if they decide to sell their home in the future, part of the proceeds may be subject to capital gains tax.


"This is highly unlikely but, to be on the safe side, you can put in place a rental agreement which specifies that the rooms concerned have an element of both business and personal use.  In these circumstances HMRC have confirmed that full Principal Private Residence (PPR) relief should continue to apply, so no capital gains arise.


"Another concern that people raise is that they will become liable to pay business rates. Whether or not you claim tax relief would have no bearing on this - it would depend on an assessment by the Valuations Agency Office, which would take into account factors such as the extent and frequency of the business use and any modifications made to the property to accommodate that.  However we are not aware of any instances where a claim for tax relief has led to a business rates assessment."

 

 
 
 
Copyright © Funky Angel 2003 - 2008