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Publication date:- 2017-25-11

user-generated Headlines and reports on this page = 4 news items.    Page - 10.

Formby Christmas Lights Switch On 2017

ON Sunday, 26 November 2017, the Formby Christmas Lights will be turned on. This year, Billy Butler and Wally Scott will be pushing the plunger… Also attending will be Miss Southport, Gwen Raby and Miss Liverpool City Region, Elli Wilson. The events start at 1pm and lights go on at 5pm… Do not miss what will be a fantastic event… For more information go to the Formby Christmas Lights Facebook Page. This year's Formby Village Nativity performance, by Churches Together (CTIFAH) will be held on Sunday, 10 December 2017, from 2pm, within the grounds of Formby Pool.

College students get career advice from the top

STUDENTS at Hugh Baird College were treated to career advice and guidance from a very special guest recently as they were visited by Head of the Peer Supervision and Risks Division at the Bank of England, Mr Tanveer Hussain. The visit was part of a series of events taking place in and around Liverpool that have have been unveiled in the Bank of England's new educational resources. These materials aim to teach students about the economy and the role of the Bank of England and are designed to be used in PSHE and Citizenship classes. The visit saw students from Business, Accounting and Law asked Mr Hussain a wide variety of questions on his current role, his background and the previous roles he has held in banking.

Having worked for the Bank of England for many years and currently the Bank's Prudential Regulation Authority, Tanveer is responsible for supervising 60 international firms. This involves contingency planning, crisis management and making sure those 60 firms don't put customers or the UK's financial system at risk. Tanveer discussed the history of the Bank of England, how the Bank came into existence and the Bank's responsibility and mission. This then lead him onto discuss the financial crisis, the state of the current economy and Brexit.  The talk also proved a great way for the students to hear about the different career opportunities and routes in to the finance world that are open to them after they leave the College.

Speaking after the event, Mr Hussain said:- "I was delighted to have the opportunity to speak to the Hugh Baird students about the economy and life at the Bank of England. The quality of the questions was very impressive! "

Hugh Baird College Level 3 Business Student, Damian Gajdul, said:- "The event today was amazing and on behalf of the group I'd like to thank Mr Hussain for taking the time out of his busy schedule to speak to us today."

Hugh Baird College Principal and Chief Executive, Yana Williams said:- "I'd like to thank Mr Hussain on behalf of the College. I'd also like to thank the Bank of England for considering the college as a place to hold this prestigious visit."

CIOT welcome Government moves to simplify and update approach on employee expenses

THE Chartered Institute of Taxation has welcomed moves to simplify the Taxation of employee business expenses. The CIOT argues that the system for exempting from Tax employees' employment expenses and certain employer provided:- 'benefits' needs to be simplified if it is to keep pace with changes in the labour market and the move away from 'traditional' employment.

Self funded training... Commenting on Government plans to consult on extending the scope of Tax relief currently available to employees and the self employed for work related training costs, Colin Ben Nathan, Chair of the CIOT Employment Taxes Sub Committee, said:- "We welcome the Government's announcement to consult in this area. Currently, the work-related training rules provide Tax relief only where the employee is reimbursed or the employer contracts directly for the training, but not where the employee incurs an expense that is not reimbursed. This does not seem fair when employees are increasingly encouraged by their employer to retrain, develop new skills, dual qualify, etc at the employee's own expense."

Subsistence benchmark scale rates...  To reduce the burden on employers, from April 2019 they will no longer be required to check receipts when reimbursing employees for subsistence using benchmark scale rates. Colin Ben Nathan commented:- "Employer reimbursements at flat rates and benchmark scale rates are intended as an administrative easement but the existing requirement that employees provide receipts for often very small amounts, eg. meals whilst working away from the normal workplace, adds unnecessary bureaucracy to a system aimed at simplifying the reimbursement of expenses incurred. The removal of the requirement to check receipts will undoubtedly reduce costs for employers and we welcome this move."

Guidance and claims process for employee expenses...  Commenting on HMRC plans to work with external stakeholders to improve the guidance on employee expenses, particularly on travel and subsistence and the process for claiming Tax relief on non reimbursed employment expenses, Colin Ben Nathan said:- "A simpler process for employees to claim Tax relief for their expenses is something which we recommended when contributing to the Government's call for evidence. Employees need easier access to guidance around what employment expenses they can claim Tax relief on, and how. Better information is also needed for employees, and employers, around record keeping requirements, and 'proof of entitlement', so that it is easier for employees to claim a Tax deduction for eligible expenses and for employers on what amounts can be reimbursed Tax free."

Benefits in kind: electric vehicles...  Commenting on the news that, from April 2018, there will be no benefit in kind charge on electricity that employers provide to charge employees' electric vehicles, Colin Ben Nathan said:- "If an employer provides electricity to an employee to charge their own car, a benefit in kind arises based on the cost of the electricity used for private mileage, but there is no clear guidance on how to calculate the cost of electricity and it is therefore necessary to estimate the cost.  Exempting the provision of workplace electricity will remove a significant administrative burden in calculating what is often a relatively small sum."

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