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Scopulus Business Newsletter - 20-08-09


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Dear Subscriber

In this issue we have:

  • Briefing
  • Tax Tip
  • Tax News
  • Business tip
  • Legal Tip
  • Legal News
  • Articles - watch
  • Website Update

We are still hearing a lot in the news about banks and bonuses and the possibility of legislation on the subject.

It seems ridicules, but as anyone with sense knows that it has always been that way and it has never been a problem before. The real problem is regulation. Yes, there is not enough and the powers that are there to protect us have not been doing their jobs or have not been given enough power.

We need more regulation on new financial instruments and the way the financial sector operates. This is the cause all the problems in the first place. I understand that they may now be passing our personal information around for marketing purposes and many people have been pestered with automated telephone calls and sms's about debt problems. This was never acceptable in the past so why are the regulators letting them do it now?

Tax Tip

It is always a good idea to ask the tax office a question. But don't just put down the phone and act on the advice. It is always best to get the advice or response in writing.  This will protect you for obvious reasons.

Tax News

The final HMRC guidance for senior Accounting Officers has been now published. It highlights that a review needs to be started but not necessarily finished as itís the first year of the legislation.   Duties of Senior Accounting Officers of qualifying companies

Vat fraud on carbon credit has been stop with the removal of VAT on carbon credits. This took effect from the 31 July 2009. Read more

The HMRC has won the right to demand compulsory disclosure notices against banks and financial services providers in the UK in their efforts to tackle tax evasion. They now have the power under Schedule 36 of the Finance Act to force hundreds of financial institutions to supply client information with UK addresses holding offshore financial interests. You may want to Read more

Sign up for free email alerts for the rest of the tax year to remind you of the tax deadlines that apply to you. UK Tax Calendar

Business Tip

Always ask for a discount as it does not hurt. If there is also an incentive i.e. you will pay a week earlier then if you mange your cash flow correctly then you can reduce your costs. Inversely, you can offer discounts thus incentivising an earlier payment and improving your cash flow.

Legal Tip

Contracts have to be formal and complete. A recent case with the University of Plymouth highlighted that a few phone calls and emails did not constitute a contract. This was because they were not complete and agreed. You can have a contract via email or phone but it must have the entire elements needed to make it legally binding. You can read the case here

Legal News

 Swine flu is affecting everything and may be cause for concern for employers as they have increased legal risk. It is rumoured that some councils are allowing 14 day before a sick not is required for swine flu. Others are seek legal advice and speaking to their insurance people.

Articles - watch

Website Update

We have been considering changing these newsletters to a blog were you will be notified when there is a new article, tip or news. This gives us a chance to give you far more valuable timely information and gives you a chance to get involved and share your views. No decisions have been made but the software spec is being compiled.

Kind Regards
The Scopulus Articles Team

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Article Published/Sorted/Amended on Scopulus 2009-08-23 17:28:30 in Newsletter

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