Giving staff more responsibility as well as a voice in the running of the business is often a good motivator.

In previous articles I have looked at:

· submission deadlines & penalties for late submission;

· penalties for “getting it wrong”

In this article I want to look at another key area of tax compliance – disclosure on tax returns.

Disclosure is an incredibly important issue to understand in the context of the self assessment system, as it fundamentally affects both deadlines and penalties.

The problem is that no system of tax legislation can be expected to fully cover all issues and circumstances, and therefore uncertainty as to the correct tax position and liability can arise.

To understand the implications of this, we need to understand H M Revenue & Customs’ (“HMRC”) process.

Family succession can be a hit-and-miss affair. For some businesses it’s a cause of strife, for others a source of strength. Careful thought and advance planning should help you to avoid the worst pitfalls – provided your successor is happy to give it 100%.

It is often considered an honour to act as a trustee for a charity and an opportunity to give something back to the community. However, becoming a trustee involves a certain commitment and level of responsibility which should not be underestimated. Whether you are already a trustee for a charity, be it a local project or a household name, or are thinking of becoming involved, there are a number of responsibilities that being a trustee places upon you.