Business and Other Briefings

DWP: The Government plans to increase powers requiring employers to provide contributions to a pension scheme if their actions could threaten the security of members' pensions. The changes would give the Pensions Regulator stronger powers to reduce the risk to members' interests by scheme changes or corporate transactions.
 
They would apply to an employer or their associates, including investors in the employer who might seek to profit from the scheme.  The powers would only be targeted at risky situations to avoid putting onerous burdens on employers.  The vast majority of pension schemes would not be affected. A consultation document will be published shortly and any subsequent legislation will be introduced at the earliest opportunity.
Press release ~ Minister’s statement ~ Pensions Regulator
 
HMRC: New rates of interest have been announced, covering quarterly instalment payments and early payments of corporation tax not due by instalments, in respect of accounting periods ending on or after 1 July 1999.  These new rates of interest, which take effect from 21 April 2008,are a result of the recent movement in market rates.
 
The rate of interest charged on underpaid instalment payments of corporation tax changes from 6.25% to 6%.
The rate of interest on overpaid instalment payments of corporation tax, and on corporation tax paid early (but not due by instalments) changes from 5% to 4.75%.
Press release ~ HMRC
 
HMRC: Employers can see for themselves just how easy it is to file their end-of-year return online, in a new video podcast from HM Revenue & Customs (HMRC). The short film, which can be downloaded onto an iPod or viewed online, shows the main features of HMRC's PAYE Online system. Viewers are taken through the registration process, and given a taste of what it's like to file online.
 
The deadline for filing employer end-of-year returns is 19 May 2008. Employers with 50 or more employers must file online, while those with fewer than 50 employees have the option to file on paper or online.
Press release ~ HMRC Podcasts
 
WAG: The Welsh Assembly Government is launching a new, streamlined system of business support that will make Government backing for new or growing enterprises faster, simpler and more responsive to their specific, individual needs. This new, integrated model - Flexible Support for Business - will replace all existing products, services and communications channels – See ‘In the News’ section for more information.
Facing the Future...find out more