Bevan & Buckland April Newsletter

Bevan & Buckland AccountantsApril newsletter: Tax efficient charitable donations/New employment law regulations
Welcome to your April 2012 newsletter. With tax and charitable donations making numerous headlines over the past month, we take a look at different tax-efficient ways of donating, and how a future shake-up to tax reliefs may limit the amount you can give away tax free. New employment law regulations also came into force at the start of the month; are you aware of the changes and how they might affect your business? Elsewhere, we explore two Government initiatives – the ‘Green Deal’ and business enterprise zones – to find out how what they entail, and how your business may benefit.

Charitable giving and the tax man

As the debate about tax avoidance, tax relief and charitable donations rumbles on, there are still various tax vehicles in place to ensure charities receive donations in the most beneficial way. This includes gift-aid, payroll giving, and now through a new inheritance tax relief that offers reduced rates if leaving 10 per cent of an estate to charity. We also look at the potential changes afoot which could cap the amount of tax relief on charitable donations.

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New employment law changes come into force

Britain currently ranks 83 out of 142 countries for the regulatory burden it places on businesses, according to a 2011/12 report from the World Economic Forum. As the Government aims to reduce amount of red tape trapping businesses, we look at new employment law changes which were brought in at the beginning of the month affecting unfair dismissal claims and the reporting of injuries.

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The ‘Green Deal’

Energy companies came under the spotlight this month as Nick Clegg announced they were to agree to inform their customers about the most suitable tariffs available; saving businesses and households money on their energy bills. Another energy saving move by the Government known as the ‘Green Deal’ is also due to come into force this Autumn, allowing commercial and domestic buildings to take advantage of energy efficient installations at no initial cost.

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Enterprise Zones – how your business could benefit

24 new enterprise zones around the UK were launched this month, in a Government plan to encourage businesses into specific areas in need of regeneration and growth. It is hoped that the new businesses will revive and rebalance both the local and national economy, create jobs, and speed up UK economic growth. We explore the various benefits on offer to businesses moving into an enterprise zone, including tax breaks and simplified planning permission.

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