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Welcome to this monthly Accounting News bulletin from DG Accountancy Services (http://www.businessbods.co.uk) bringing Small Business' news and information from the business world, as it happens!

Wednesday, 14 October 2009

Fathers to be given new paternity rights

Fathers will gain the right to take six months’ paternity leave under new plans announced by the Government.

The proposals will see parents afforded the right to share a year of parental leave to care for their newborn child, with fathers allowed to take six months off after the mother’s first six months of leave.

The changes will take effect for parents of children due on or after 3 April 2011.

Harriet Harman, Minister for Women and Equality, said the new rights would give ‘families radically more choice and flexibility’ and enable ‘fathers to play a bigger part in bringing up their children.’

But the Government has yet to fix a date for its plans to extend mothers’ maternity leave from nine months to a year.

Commenting on the shared leave proposals, Miles Templeman, Director General of the Institute of Directors, said: ‘We strongly support new paternity leave rights for fathers, providing the Government ensures that the new system is simple for businesses to administer and there is no overall increase in the total amount of paid and unpaid leave parents can take.’

However David Frost, Director General of the British Chambers of Commerce, told the BBC: ‘This is not the time to do it. It is a huge burden to plan for both a male and a female employee being away.’

The Government anticipates that the new rules will have a ‘minimal’ impact on companies and that just one in 137 small businesses are likely to be affected.

posted by BusinessBods.co.uk @ 06:38 0 Comments

HMRC issues new warning over fake emails

HM Revenue and Customs (HMRC) is warning people to remain vigilant as fraudsters renew their efforts to scam money from unwitting taxpayers.
Emails which appear to originate from a genuine Government source claim that recipients are entitled to a tax rebate in an attempt to coax them into sharing personal information.
Some messages also invite taxpayers to complete a form (in some cases an online form), which demands their credit card details.
Email addresses used by the fraudsters include: tax-inform@hmrc-information.co.uk; online.paper@hmrcpaper.co.uk; office.tax@hmrc.taxreturn.co.uk and securemail@hmrc.gov.uk.
However, HMRC states that it would not inform customers of a tax rebate via email, and is advising taxpayers not to visit the website contained in some of the emails, or to surrender any of their personal or payment details.
A spokesman for HMRC said: ‘The email is a sophisticated attempt at internet fraud and it is very important that anyone receiving it does not reply or provide any personal details whatsoever.
‘We are liaising closely with those agencies working to close down and prosecute those behind these scams. If you are in any doubt about a communication claiming to be from HMRC please contact us.’
Suspicious HMRC emails can be forwarded to phishing@hmrc.gsi.gov.uk.

posted by BusinessBods.co.uk @ 06:37 0 Comments

Banks must disclose 'all offshore account details' to Revenue

Over 300 banks and financial institutions have been ordered to pass the details of those customers who hold offshore accounts to HM Revenue & Customs (HMRC).
The legal ruling means that HMRC can now issue compulsory disclosure notices to the banks, ahead of its New Disclosure Opportunity (NDO).
The NDO offers people with unpaid taxes linked to offshore accounts or assets a final opportunity to make a complete disclosure, at favourable penalty rates. Those taxpayers who were not contacted by HMRC under the previous Offshore Disclosure Facility (ODF), in 2007, will be offered a penalty rate of 10%. Those who were contacted during the ODF but did not take advantage of the scheme will be offered a 20% penalty rate.
To use the scheme, a notification of the intention to disclose must be made to HMRC between 1 September and 30 November 2009. Those taxpayers notifying on paper can do so from 1 September to 30 November, while those notifying electronically can do so from 1 October to 30 November.

Disclosures can be then made from September 2009 to January 2010 on paper, or from October 2009 to 12 March 2010 electronically.

Once the NDO ends on 12 March, those taxpayers who have failed to come forward will be pursued by HMRC and will face penalties of between 30% and 100%, together with an increased risk of prosecution.

posted by BusinessBods.co.uk @ 06:36 0 Comments

Business issues warning following sick leave ruling

The Confederation of British Industry (CBI) has warned that a recent landmark ruling on sick leave by the European Court of Justice could leave employers open to abuse by unscrupulous staff.

The ruling means that employees who suffer illness while on annual leave could be entitled to reclassify their time off as sick leave, and be granted annual leave for a different period.

Katja Hall of the CBI said, 'Many firms already take a common-sense and sympathetic approach. But allowing employees to reclassify their holiday as sick leave opens the door to abuse'.

Meanwhile, the Chartered Institute of Personnel and Development (CIPD) warned that the ruling could force employers to abandon occupational sick pay schemes, in favour of statutory schemes.

The CBI is calling for employers to be given the right to ask for a medical certificate, should the ruling become law.

posted by BusinessBods.co.uk @ 06:34 0 Comments

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