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Work at Home Mums get boost from new tax allowances |
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Written by Monica
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Sunday, 22 June 2008 |
 1,400 home businesses are started every week in the UK and ‘mum’ businesses contribute an estimated £4.4billion to the economy, and now HMRC are putting their weight behind the growing trend, with new tax breaks for people working at home.
New guidance in HMRC manuals, published on their website, contain examples of the level and nature of home expenses that can be claimed. There are two areas of particular interest: specific expenses and mixed use of premises.
A new element is termed ‘fixed costs’ and includes mortgage interest, Council tax and home insurance, and for the first time HMRC are allowing a proportion of these costs to be claimed against the income of your business if certain criteria are met, such as:
• The area of your home is used exclusively for business purposes for a prescribed amount of time - say, 9am to 3pm, which basically means that if you sit at the kitchen table working you won’t qualify for the additional deductions.
• The amount you claim has to be reasonable in relation to your business - so you can’t claim that you work 20 hours a day.
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Last Updated ( Sunday, 22 June 2008 )
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British shoppers lead the way on ethical shopping |
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Written by Simon
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Sunday, 15 June 2008 |
Ethical food shopping is now mainstream in Europe, and British shoppers lead their European counterparts when it comes to shopping ethically, new research from international food and grocery expert IGD reveals today.
Tens of millions of shoppers across Europe regularly consider factors such as organic, Fair Trade or local sourcing when making food purchasing decisions. Furthermore, British shoppers are significantly more likely to purchase ethically, IGD’s Ethical Shopping in Europe report shows.
“Until recently, ethical food shoppers were seen as niche. Now as many as seven out of ten Europeans we surveyed buy ethically at least some of the time, and a quarter are dedicated shoppers who consider two or more ethical factors when shopping,” Chief Executive Joanne Denney-Finch told IGD’s Global Retailing conference.
“Priorities vary across Europe: the French are most interested in environmental issues; the Dutch are concerned about animal welfare; local sourcing is a priority for Poles whereas British shoppers are interested in a wide range of ethical issues. But there is immense growth potential for brands that can develop and emphasise ethical credentials, and tailor them to local markets at the appropriate time,” she added.
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Last Updated ( Sunday, 15 June 2008 )
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Small Businesses Brace Themselves for Spiralling Energy Costs |
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Written by Jim
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Saturday, 31 May 2008 |
 Research shows that almost 1 in 5 small businesses spend more than 10% of annual turnover on energy bills with a further 22% approaching the threshold. Contractual confusion and supplier switching inertia has resulted in unnecessarily high electricity bills for small businesses. Electricity4Business urges smaller businesses to take control of their energy spend by shopping around for the best deals.
The independent research, which was conducted on behalf of Electricity4Business and questioned over 1000 small businesses across the UK, also showed that spiralling energy bills have now become the second biggest cost for these companies, behind staff wages and recruitment costs and ahead of premises / rent, equipment and insurance. In the face of economic downturn, it is particularly these smaller companies that are under increasing pressure to remain profitable, and controlling business costs such as electricity is the key to staying afloat.
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Last Updated ( Saturday, 31 May 2008 )
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