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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.

The VAT extra statutory concession 3.29, which allows charities to ignore small amounts of non-qualifying use (up to 10 per cent) when deciding whether the construction of a new building qualifies for zero-rating, is being phased out.

The government’s announcement that it is to bring forward a planned review of the default retirement age could mean that employers may lose the right to force staff to retire at 65.

Many thousands of smaller businesses could see an increase in their administrative burdens if new accounting rules on leasing come into effect, it has been claimed.

HM Revenue & Customs (HMRC) has said that, as from 13 July, it has started to send penalty notices to employers who have not yet filed their 2007-08 form P11D(b) Annual Returns.

Small employers have been offered a series of tips on how best to cope with any large increase in swine flu cases.

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