News

Army redundancies

BBC News has confirmed nearly 4,500 army personnel are to be made redundant. More than 80% of those redundancies are voluntary meaning that many these people have a plan.

Where one door closes, another opens. Having worked with several army personnel who have either retired or taken voluntary redundancy, we know that now is an excellent time to invest in starting a business. It is important you seek professional advice at the earliest opportunity so that you can get the best start to your business.

Like all start-up businesses, cash is vital. Most start-ups make taxable losses in the early period due to purchasing assets so you may wish to look at starting as a self-employed individual to get some PAYE refunded. You will also need guidance on how to find work, developing a strategy, help with compliance procedures and advice on your finances.

If you are looking to use this opportunity to create a career. We want to hear from you. Feel free to give us a call or alternatively request a call back on our website.

Workplace pensions are coming

Employers need to be aware of their obligations regarding the setup and administration of workplace pensions. The largest companies are currently in the process of enrolling in accordance with the staging dates put in place.

Workplace pensions will increase administration costs for businesses and the cost of employing staff. It is therefore vital a strategy is developed in both these areas to keep these costs under control.

We are currently in the process of assisting clients with registration. Contact us at the earliest opportunity if you wish to outsource this compliance as the deadlines for small employers is fast approaching.

There has been a large amount of information issued on this subject. As a starting point, it is vital our clients are aware and understand the following:-

Q - When do I have to setup and make available a workplace pension

A - CLICK HERE TO COMPUTE YOUR STAGING DATE – You will need your PAYE reference

Q - Which of my employees/workers will need to be automatically enrolled and when

A - CLICK HERE TO FIND OUT WHAT WORKERS WILL BE ENROLLED AND WHEN

Q - I already have a workplace pension setup. Is this sufficient to meet the new regulations?

A - CLICK HERE TO ASSESS SUITABILITY OF YOUR CURRENT WORKPLACE PENSION SCHEME

Q - Where do I go to get registered?

A - A number of pension providers in the UK will have schemes setup ready to comply with the new workplace pension rules. You should speak to your existing provider. Alternatively, the NEST (National Employment Savings Trust) is a scheme setup by government  for workplace pensions. CLICK HERE TO VISIT THE NEST WEBSITE FOR MORE INFORMATION.

Q - How much are the pension contributions for the employer and employee?

A - CLICK HERE TO CALCULATE THE CONTRIBUTIONS AND TO SEE HOW THEY WILL INCREASE OVER THE COMING YEARS

Many more questions need to be resolved. For most small and medium sized businesses, the points raised above are a good starting point to understand when and who will be affected. With this knowledge, we can start to develop a strategy for a smooth transition.

Business mileage log

To assist clients with maintaining adequate records, we have prepared a standard template that can be used to record business mileage. This can be completed on the computer or can be printed out and kept in a storage compartment of the vehicle.

Feel free to email us for an Excel version of the document.

For a PDF version, CLICK HERE.

Should you be VAT registered and claim VAT on the mileage rates, please CLICK HERE to visit the latest fuel rates.

OUR LATEST TWEETS

Testimonials

Tim's indepth understanding of our business enables him to give us the best practical advice.

Surfhosting