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Scopulus Business Newsletter - 20-05-08


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Dear Subscriber

In this issue we have a 10% off discount code and:

  • Tax news
  • Tax tip
  • Business tip
  • Legal News
  • Articles - watch
  • Website updates 

Tax News

"Unbelievable! Unprecedented! What's going on? Do they know what they are doing?" These have been some of the comments over the last few days since this government has decided to change the tax rates for the fiscal year, and change them back a month after the fact.

The good news is that it does not affect many people that would subscribe to this email financially but it does increase someone's workload.

BUT IT IS A BIG DEAL - WHY? I was watching newsnight the other day and one person in the audience said that he earns £10k a year working full time. He said my tax bill has in effect nearly DOUBLED with the change to 20% from 10%.

Now if the chancellor changed the 20% tax bracket to 40% he would be unemployed and revolution will breakout. There will really have to be a good reason to do so; I mean a REALLY GOOD reason.

With the economy being in the state it is and with low confidence and the tightening of belts we hope the government can take charge and steer things in the right direction. Making a mistake on this level does not give confidence. Correcting them is a good thing but it is also admitting that they did not get the sums right and that the reasons for removing the tax bracket were not sound. Not knowing what they were doing and not being able to do the math's does not build confidence. The decision is yours. Article in the Guardian about winners and losers of the tax cut.

Tax Tip

Expenses seem to be a hit and miss affair for many people, but by following a few simple rules, you should have no problems.

  1. Agree with your accountant what you can and cannot claim for tax purposes.
  2. Decide on a policy for yourself and one for your staff, on what you are prepared to authorise.
  3. Get a separate or company credit card for this purpose if it is a regular thing. That way the statement is the audit trail (a record).
  4. Keep a separate section in your wallet or purse for the receipts.

This way you know what to clam, you have a record, and you have the receipts. This will keep you, your accountant, and the taxman happy.

Business Tip

Have you got a To Do List  ? In an effort towards getting ourselves organised this method is used by many people as it can make the procedure less taxing. How so? well you decide what needs to be done and then list them down. Then you just go through the list. While you are doing that if you need to change or add to the list you can. This stops you having to constantly keep trying to figure out what needs to be done after you have completed one of the tasks and also helps you not to forget to do any of the tasks. Try ours To Do List , it saves hundreds of post its notes all over your computer, and we use it!

Legal News

Breaches of the Data Protection Act now have new consequences. The Criminal Justice and Immigration Act has received Royal Assent on the 8th of May creating tough new measures for the Information Commissionerís Office or (ICO). It gives the commission more power to give larger fines to organisations and businesses that do not comply with current legislation. If you don't have a data protection policy then you can get one here.

Information Commissionerís Office  summary
Criminal Justice and Immigration Act summary

Articles - watch

Copyright is always going to be a problem especially if you have a website. We all know how to put up a copyright notice but what happens when it is ignored.
Copyright Breaches

Securing Your Computers Information is always important and here you can get some good insight on how all types of organisation do it from the experts. >
Securing Your Computers Information >

Website Update
We have commissioned some new additional free documents that will come with some of the legal documents. These (when completed) will be added to the packages on the website and all those who previously purchased any of the documents concerned will be sent them free of charge automatically. We will keep you informed.>

Were giving away 10% off all the legal documents until Friday midday. Put the discount code (need to sign up for newsletter for discounts) in the checkout invoice page and it will take 10% off the bill before you pay. There is no need to delay buying that document. You have until Friday midday.

Kind Regards
The Scopulus Articles Team

Online Business Resources, News Portal, Company Formation, Legal Documents, Accounting software, Books, Business jargon explained, Tax, Articles, Government links, etc. All from trusted experts in their field of expertise.

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Article Published/Sorted/Amended on Scopulus 2008-05-22 14:59:00 in Newsletter

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