Get ready for new regulations, businesses
warned
Smaller
firms are being urged to prepare for raft of new regulations that are set to
come into force at the end of this week.
On 6 April
a series of changes affecting businesses across the
Leading
lobby groups are now advising enterprises to familiarise themselves with the
forthcoming changes to ensure they comply with the relevant revisions.
Most
notably, the Chancellor’s controversial changes to the capital gains tax regime
will take effect, with a new flat rate of 18% and the concessionary
Entrepreneurs’ Relief operational from 6 April.
This date will also see an
increase in smaller firms’ tax contributions, while the higher rate of
corporation tax will be cut from 30% to 28% for larger businesses.
A number of
revisions to the Companies Act 2006 are to also be implemented as part of a
Government drive to reduce the burden on private companies. Firms will no
longer be forced to appoint a company secretary or have the signatures of two directors to execute deeds.
Other
reforms coming into effect on 6 April include measures that will give both
consumers and agency workers greater protection against exploitation.
The test to
define harassment will also be amended under changes to the Sex Discrimination
Act, while employers will soon be held liable for the sexual harassment of
staff by third parties.