Mileage rates for expenses (AMAP)

The amount you can be paid for business mileage without reporting to HMRC is at the rate of 45p for the first 10,000 miles and 25p from then after.(re 2011/2012 tax year)
There are special rules for business miles classification and if you exceed these rates then National Insurance contribution (NIC) may be payable.
Essentially business mileage is that which is for travelling from one client to another or to and from a temporary business place of work. Not from home to a permanent place of work.

Retaining records for Tax - as legal obligation

The general rule of thumb is 6 years to retain documents for business. There are exceptions:
If an enquiry is launched then the HMRC can demand any evidence to discount a fraudulent claim to tax.
You can keep any documentation in an alternative form such as electronic media via scan.This is as long as you can convert into a legible printable format.
There are some documents that cannot be stored in an alternative manner such as Bank Interest certificates, Dividend vouchers and CIS certificates(vouchers).

NATIONAL INSURANCE(NI) FOR LOW EARNERS

The amount of NI to be paid for low earners in employed position as of 06/04/2011 is dependent on the amount you earn.
Up to £101 weekly, there is no NI due and therefore at this level which is lower than the Lower earnings limit (LEL) of £102, meaning no credit to NI contribution scheme. Included and above the LEL and below the the secondary threshold (ST) £136 (102-135)the NI paid by employees is at a 0% rate and considered included as credit to the NI contribution scheme.
This is useful when setting a minimum or low wage for work that only requres a small amount of hours. Its best to arrange at least a payment of ablove £102 to be part of the NI scheme for contributions and still no tax to pay, if this is your only job and not costing the employer any employer NI.

Minimum Wage (National Minimum Wage = NMW)

There are different levels of NMW, depending on your age and whether you are an apprentice. The current rates are:
£5.93 - the main rate for workers aged 21 and over
£4.92 - the 18-20 rate
£3.64 - the 16-17 rate for workers above school leaving age but under 18
£2.50 - the apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship
The age at which you become entitled to the main rate was reduced from 22 to 21 on 1 October 2010. The apprentice rate was introduced on the same date.
If you are of compulsory school age you are not entitled to the NMW. Some of your other employment rights are also different.

LCD VS LED TVs

I have decided to get a larger screen to do the accounts on, for the office pc.
I set out looking online but then decided I should look in the local stores. You know all the common ones, PC world Comet and Hughes, Bennett's and Staples and believe it or not Sainsburys. As this would give less aggravation when returning the item if a fault occurred.
I had set a size for the screen to be at least 22" but not no larger than 24" otherwise it would look to big sitting on the desk.
Any way I found one from Pc world best price 23.6" no TV freeview or DVD player combi. Dont need the tv or DVD player combi anyway as the PC will provide all tv playback and live etc. when connected to internet in the office.
Any way the best value was £129.99 AOC monitor LCD.
That brings me to " whats the difference between LCD and LED.
I found after searching the net a great little video which explained all. See this its good knowledge. Basically, the led is better as it back lights the LCD giving a bright white and deeper black, ie a sharper picture. Not much use in the office but great knowledge.see http://www.youtube.com/watch?v=U0cBsVaCmcQ&feature=player_embedded (type in the www. bit)

Injury claim referral fees to be banned

It is proposed a ban of referral fees in personal injury claims is to be imposed, in an attempt to curb the "compensation culture".

It is claimed that the rise in insurance is partly to blame with the current system in which personal injury details are sold on by insurance companies to lawyers.
The Association of British Insurers said the ban must be "watertight".
Justice minister Jonathan Djanogly said "honest motorists were seeing their premiums hiked as insurers covered the costs of ever more compensation claims".

"Many of the claims are spurious and only happen because the current system allows too many people to profit from minor accidents and incidents"

America faces 'genuine threat 9/11'

The US warn that a specific and credible threat is possible during the 10th anniversary of the attack 9/11.