Personal Service Company Changes From April 2020

In the Autumn Budget, the Chancellor announced that the “off-payroll” workers rules that currently apply in the public sector would be rolled out to the private sector in 2020. The government have now issued a consultation paper that sets out proposed tax and national insurance changes that will impact on those supplying their services through personal service companies. End users will be required to determine whether the rules apply to…  Read more

Disguised Remuneration Loan Charge Starts April 2019

This new charge will apply to certain loans to directors and employees that are still outstanding at 5 April 2019 and new arrangements put in place after that date. The charge affects arrangements involving loans made via Employee Benefit Trusts (EBTs) and similar disguised remuneration schemes adjudged by HMRC and the courts to be tax avoidance and liable to PAYE and National Insurance Contributions. There are new reporting and payment…  Read more

Self Employed Pensions

When you’re employed, your employer makes compulsory contributions to your pension via auto-enrolment (unless you opt-out). When you work for yourself as a sole trader, or you’re in a partnership, making pension payments isn’t mandatory. But, it’s still an important thing to consider. It is especially worrying that studies have found that 45% of self-employed workers between 35 and 55 have no pension. Retirement savings contributions are there to set…  Read more

Remote Working is On the Rise

Remote working has become more and more common as developments in technology have allowed us to communicate and collaborate no matter where we are. In fact, most of us are already logging on from home or holiday already. In May 2018, Swiss serviced office provider IWG released a study that found that 70% of professionals work remotely at least once a week. Sometimes called ‘telecommuting’, remote work is on the…  Read more

Obvious Innovation

Innovation can be driven by taking an ‘obvious’ idea from one context and applying it in another The successful development and implementation of new, innovative ideas are crucial in business. Your innovation could focus on improving business processes, bringing new and improved products and services to market, increasing efficiency or, most importantly, improving profitability. Being innovative in business isn’t all about being the next Steve Jobs or inventing the light…  Read more

Budget 2018

Phillip Hammond has delivered the Budget and promises that the end of austerity took center stage along with some brighter forecasts. What did it all mean for the business owner though? We have looked through the information and here is a summary of the Budget that will affect businesses: Business Rates Reform It has been announced by Phillip Hammond that £1.5bn would be injected into the UK business rates system…  Read more

Can co-working spaces work for you?

Co-working spaces were once the preserve of freelancers and creative types. Now medium to large sized businesses are getting in on the act too. The modern workplace is evolving. First we had flexible working. Then we had remote working. Now we are seeing an increased demand for co-working spaces – workspaces which are shared by people who don’t all work for the same business. So why have co-working spaces become…  Read more

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