The government is increasing the National Minimum and National Living Wage rates on 1 April 2018. This includes the largest increases in a decade for the rates that apply to 18-20 and 21-24 year olds. As the minimum wage increases more employers than ever will be directly affected, including those who currently pay above the minimum. […]
Read More
Philip Hammond has delivered his first Autumn Statement as chancellor. These are the key points. Public borrowing/deficit/spending Government finances forecast to be £122bn worse off in the period until 2021 than forecast in March’s Budget Debt will rise from 84.2% of GDP last year to 87.3% this year, peaking at 90.2% in 2017-18 Office for Budget […]
Read More
More than two-thirds of employees do not realise that the minimum amounts they need to save into their workplace pension are set to increase, a survey has found. Scottish Widows found 68% of people are unaware that the minimum contributions under automatic enrolment will increase over the coming years. Under the auto-enrolment scheme, employees contribute […]
Read More
What are your ongoing duties as an employer? Every time you pay your employees, you should do the following: Monitor Earnings and Ages of Staff You’ve Employed If you have employees under you, it is important to check their age, earnings and also, if you must add anyone to your pension scheme. If you do […]
Read More
Setting up as a sole trader is without doubt the simplest way to start a business. All you need to do is inform HMRC that you are working as ‘self employed’, and account for your business activities through the annual self assessment tax process. Starting up in business as a limited company involves a more complex […]
Read More
We all need to keep financial records for various reasons. If you fill in a tax return, VAT return or claim benefits or tax credits, there are some special rules. Here we tell you about: • how keeping accurate records helps you • why you need to keep records • the records you need to […]
Read More
There is only one week to go until the Government’s new National Living Wage becomes law. If you’re working and aged 25 or over and not in the first year of an apprenticeship, you’ll be legally entitled to at least £7.20 per hour. That’s an extra fifty pence per hour. The Government is committed to increasing this every […]
Read More