News - March 2007
Budget 2007 Summary
March 2007
Gordon Brown has delivered his eleventh, and what is expected to be his final, Budget. This year’s measures contained a few shocks, with the Chancellor’s tax cut provoking an uproarious reaction from Labour and Conservative benches alike. The Budget has been described as ‘substantial’, no surprise if Mr Brown has his eye firmly on Number Ten.
Managing Absence
March 2007
Sickness absence costs businesses a small fortune. The CBI statistics for 2005 suggest the costs are in the region of £495 a year in direct costs for every worker employed. Indirect costs are probably considerably more.
VAT Fuel Scale Charges
March 2007
HMRC have produced some of the tables but not the final VAT fuel scale charges which are due to come into effect on 1 May 2007. Businesses will have to use the new scale charges from the start of their first VAT accounting period beginning on or after this date. HMRC are announcing the change early to allow businesses time to familiarise themselves with the new charging structure and make any necessary IT system changes.
Cash Accounting Limit Raised
March 2007
HMRC have announced that the threshold for the Cash Accounting Scheme will be more than doubled from £660,000 to £1,350,000 from 1 April 2007.
Increased Maternity Pay
March 2007
HMRC have updated their guidance on Statutory Maternity Pay (SMP) due to women whose babies are due on or after 1 April 2007.
Local Businesses Find all they Need at the Touch of a Button
March 2007
Local businesses and budding entrepreneurs from across the Midlands can now access all the expert business advice they need in one place.
0121
355 1901
Related
Links