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BULLETIN NEWS
Tachographs: Draft EU regulations
EU and UK cornpatability Draft Regulations propose: • definitions covering goods vehicles in the EU and British legislation are made compatible so that in all cases enforcement of a breach of a requirement in EU Regulations, including the case of a vehicle without a fitted tachograph drawing a trailer carrying another vehicle, will be possible in Great Britain; • an exemption from the EU Tachograph Rules for health service vehicles.
The draft Community Drivers' Hours and Recording Equipment (Amendment) Regulations 1998 are available, price £1.10, from The Stationery Office (te1: 0171 873 0011).
Company 81 financial: Companies Act Companies House form Additional forms may now be used for sections 287 and 288 of the Companies Act 1985— Form 287(1) (change of registered office), Form 288ab(I) (resignation/ appointment of director or secretary) and Form 288c(1) (change in the details of a director or secretary). The new forms allow the use of intelligent character recognition (ICR) technology by the Registrar of Companies.
This change is introduced by the Companies (Forms) (Amendment) Regulations 1998 (SI 1998 No 1702), available, price £2.40, from The Stationery Office.
Directors'pay A survey* by Incomes Data Services (I)S) of 2,000 directors' pay in Britain's top 350 listed companies reveals that in the FTSE 100: • the main increases in earnings were basic salary rises (10.5%); • median total annual remuneration (including bonuses and benefits) rose by 8.6%; • annual bonuses averaged £143,000 for chief executives, .C91,000 for finance directors and £76,000 for other directors.
The survey also shows that in the mid-250 FTSE firms: • basic salaries for chief executives rose by 8.6% but average total annual remuneration was up 11.5% through higher bonus earnings; • annual bonuses averaged £86,400 for chief executives, £50,500 for finance directors and £55,000 for other directors.
Directors' Pay Report 1998 is available, price £250, from IDS. Tel: 0171 250 3434.
Credit charge treatment Customs and Excise (C&E) has VAT treatment of charges made by companies for payment by credit card.
• If the charge for payment by credit card is made by the supplier of the goods/services being bought, C&E view this as a further payment for the purchase; VAT would be payable on the charge at the same rate as on the goods/services.
• If the charge is made by an agent acting for the supplier of the goods/services, then C&E considers the charge is for a separate supply of exempt services, ie accepting payment in the form of a credit card.
This policy is being applied from 7 August Contact your local VAT business advice centre for further information.
Company purchase schemes The Inland Revenue has published feedback* to its consultation on legislation designed to counter schemes which exploit the rules on company purchase and thereby lead to a default on the payment of corporation tax.
The legislation is now published in sections 114-116 of Finance Act 1998 and, in outline, will apply where it appears that: • there has been a change in the ownership of a company; • tax assessed on the company (or an associated company) for any amounting period ending on or after the change in ownership remains unpaid longer than six months after the due date; and • it would be reasonable to infer from the terms of the transactions, and the other circumstances of the change in ownership, that a potential tax liability might not be met.
In such silmations, the ER will be able Nrrecover the tax from the previous owners of the company or from other companies under the same control. The legislation also includes measures enabling the Board ol the Revenue to obtain information from any person relevant to determining whether the "sold" company or the vendor may become
liable to a charge to tax.
Company Purchase Schemes: Collection of Outstanding Tax—Outcome of Consultation is available free from the Inland Revenue. Tel: 0171 430 6420/6425.
Bug testing The Health and Safety Executive (HSE) has published another report* to help companies test computer systems (especially those that are safety-related operations) for year 2000 compliance.
Testing safety-related control systems for year 2000 compliance is available, price 15.50, from HSE Books, PO Box 1999, Sudbury, Suffolk, C010 6FS. Tel: 01787881165.
Employment:t Working timti
Working tilt.
The Department of Trade and Industry (DTi) has issued guidance on the new Working Time provisions (which come into force on 1 October 1998). This is on the Internet: http://www.dti.gov.uk/ER/ WTR/index.htrnl.
Health 81 safety: White asbestis
White asbestos
The Health and Safety Commission (FISC) has agreed to consult* on regulatory proposals to further restrict the importation, supply and use of cluysotile (white asbestos). It is proposed that all uses of chrysotile be prohibited, apart from a few essential ones where adequate substitute materials have not yet been developed.
The consultative document, along with a summary, will be available in midSeptember, from HSE Books and on the HSE website: http://www.00en,govuldhse/ condocs. The consultation period will be three months (ie ending in mid-December). CAfs Haulage Bulletin partner Tolley Publishing produces regular monthly business bulletins coveirng need-to-know information on: • Company law • Health and safety • VAT law • Environmental issues • Tax and accountancy • Payroll issues For more information call 0181686 9141.
1_ Committal Motor/Tolley Publislung Company lid ECM