Legitimate business expense claims are one thing, but funding your lifestyle through claiming expenses is another, isn’t it?
Did the MPs’ expenses scandal sway the way we voted this month? Perhaps this straw has finally broken the camel’s back and the relationship between voter and politician is irreconcilable.
A duck house; moat cleaning; manure and an already paid-up mortgage are just a handful of the things that have enraged the nation; all quite clearly what-not-to-claim-for. But in all seriousness, do you know what you can claim for as part of your allowable business expenses?
If not, you will find HMRC’s Allowable Business Expenses information of assistance and if you work from home, their Use of Home: Specific Expenses is what you need to read.
Now on to this month's news and reports from the legal world.
Legal News
Following on from our expenses/tax-related intro, a story on our website this month sounds a warning bell for anyone who signs documents whilst they are still in draft with work yet to be completed on them. HMRC found documents used in a tax avoidance scheme had been pre-signed by a participant and the case went to court. Because the final version of the documents was not executed by the signatory, the court ruled that the documents were void.
Continuing on the theme of warnings, ‘borrowing’ log-in details to access subscription services may be common practice but in many cases loaning your log-in to a colleague is likely to breach the Supplier’s licensing agreement which could lead to a claim for damages. How do they know? Because logging in to a website via a different computer creates an individual digital signature which is easily detected. You can read more about this, and about how the Financial Times is taking action against a large international asset management group for breaching their user agreement, in this month’s website news.
“Good practice in the boardroom” may spark thoughts of refraining from slurping your tea, but in fact the new three page guide from the Institute of Chartered Secretaries and Administrators offers practical advice and a Code for company secretaries and directors.
A reminder that late filing penalties have been subject to substantial increases as of 1 February 2009: if you run a private company, you must file your accounts within 10 months of the end of the accounting period; file up to one month late and you’ll face a fine of £150. The scale rises sharply; leave it more than 6 months and the bill will be £1,500. For public companies, file within 6 months of the end of the accounting period otherwise you’ll face fines starting at £750 and rising to £7,500.
Site of the Month - Google Street View
Right , hands up those of you that have checked out your house, office or local pub using this latest addition to the Google application empire? Fascinating isn’t it and practical too, quite reassuring being able to make mental note of ‘real’ landmarks when you’re planning your journey. Long gone are the days of badly hand drawn location maps so if you’re in one of the areas Google have already snapped up why not go that extra mile and put a link on your ‘how to find us’ page?
Regards,
Your Commercial Team
Fieldings Porter
01204 540900
Ed Nally (ed.nally@fieldingsporter.co.uk)
Andrea Gibbons (andrea.gibbons@fieldingsporter.co.uk)
John Webster (john.webster@fieldingsporter.co.uk)
David Porter (david.porter@fieldingsporter.co.uk)
Daniella Stefani (Daniella.stefani@fieldingsporter.co.uk)
Ifath Khan (ifath.khan@fieldingsporter.co.uk)
Catherine Smith (catherine.smith@fieldingsporter.co.uk)
