BBC News - Business
The latest stories from the Business section of the BBC News web site.
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Yen falls to seven-month low
The Japanese yen falls to its lowest level against the US dollar in seven months, positive news for Japanese exporters.
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Attacks on business snobbish - PM
David Cameron is to praise business for its 'vital role' in society later and say attacks on wealth creators are motivated by "snobbery".
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Lin in 'Linsanity' trademark bid
New York Knicks basketball player Jeremy Lin files to trademark the term "linsanity", used to characterize his rapid rise to NBA stardom.
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The tax credit system changes from April 2012
How the tax credit system will change from April
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Journey around the public sector
Public sector casualty seeks private sector job
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Small firms: How to expand
Your latest start-up questions answered by our panel of experts
News
Top Stories.
NI Contributions from April 2012
HMRC are warning that you should prepare for the 2012/13 PAYE year by remembering that contracting out of the additional state pension on the Defined Contribution basis will not be available from 6 April 2012. See this article for detailed information.
- Tutors and Coaches
HMRC are now targetting private tutors and coaches. If you operate in this arena and have not registered your business with HMRC, you should do so before 6th January 2012 to avoid penalty. Contact us to discuss how to register your business with HMRC. For those who registered in time, you have until 31 March 2012 to pay.
- Register for VAT
If your turnover is (or is likely to rise over) £73,000, you must register your business for VAT. The closing date for reduced penalties for non-registration has now passed.
- E-Marketplaces
HMRC are targetting anyone who trades on sites such as EBay and has failed to notify HMRC of their business operation. This campaign will commence during the first quarter of 2012.
- Company Car advisory fuel rates
With effect from 1st March 2011, these rates have changed. See here for more details.
- Electricians Tax Safe Plan Campaign
HMRC are intending to repeat the Plumbers Tax Safe Plan, this time extending it to Electricians. This campaign involves any electrician who has either not registered as self-employed with HMRC or those who may have done, but have under-reported income, should now declare the under-reporting. The deadline for disclosure is 15 May 2012. Those who disclose by then have until 14 August 2012 to pay the necessary tax with penalties of between 10% and 20%. Those who do not disclose may find HMRC knocking on their door asking for penalties of up to 100% (plus interest).
Construction and Building
HMRC will be targetting "Home Improvement" workers who make money from building work and who have not already declared the income to HMRC. This follows on from the Plumbers Tax Safe Plan concluded last year.