Workers who take home their company vehicles over night for personal use are facing a huge increase in their tax liability from 6th April 2007 onwards unless their companies act quickly.

The tax costs attributable to company vans are set to increase from £500 to £3,000 (a 600% increase) which is the same charge made on a £20,000 company car. It has also been suggested that if private fuel is provided, workers could face a 700% increase in tax.

To avoid the tax increases it is vital that businesses change the terms and conditions on which they provide vans to reinforce that they are not for personal use. Drivers will also need to keep logbooks stating their mileage, as the tax will not arise if the personal use is insignificant.

Please speak to your client manager to seek advice if you are concerned that this affects your business.

New fire safety law

New fire safety rules came into force on October 1st 2006 affecting all non-domestic premises throughout England and Wales. If you are

• An employer or self-employed with business premises

• Responsible for business premises

• A contractor with a degree of control over any premises

• A charity or voluntary organisation

Then it is vital you act now to ensure that you have a suitable risk assessment in place. If you have a spare 10 minutes then take part in an online risk assessment please use the following link https://www.fire.gov.uk/Workplace+safety

Networking

Emma Finlay from our office attends a weekly networking group run by SPRING, which is based in Kings Hill. Networking events are excellent opportunities to meet other local businesses and generate new business from the contacts you make.

SPRING are holding an open evening on the 26th October. If you are interested in developing your networking opportunities then please contact Emma Finlay or alternatively email her Emma@stephen-hill.co.uk.

Quote of the week

"It's not the plan that is important, it's the planning." 

Dr Graeme Edwards