Offering competitive employee benefits is crucial for SMEs, especially to attract and retain talent. But this can be tricky when budgets are tighter than in large companies. The most effective benefits strike a balance between affordability for the business and strong perceived value for employees. So which are best to consider, and do any offer […]
Companies House has launched a voluntary identity verification service for company directors and people with significant control. The move marks the first phase of a wider initiative to tackle corporate fraud and misuse of the companies register. Individuals can now digitally verify their identity either directly through Companies House using the GOV.UK login or through […]
Following, significant adverse feedback from motor manufacturers, businesses and drivers alike, the government has completed a U-turn on legislation that was set to change the tax classification on double cab pick-ups, treating them as cars rather than goods vehicles. Had they progressed with their plans, the tax on benefits-in-kind for employees, when provided with a double cab pick-up by their employers, would have increased, substantially.
Important – If you are self-employed or in a trading partnership and your accounting year end does not match the tax year (April to March), new annual self-assessment reporting changes will impact you from this tax year.
The Economic Crime and Corporate Transparency Act, which received its royal assent in October, will herald a major shake-up for Companies House. The new legislation is set to introduce new powers which will allow UK authorities to proactively target organised criminals, reduce fraud, improve security, and enhance company data.
At the same time as the French government announced plans to mandate e-invoicing, the UK government confirmed it is set to act on late payments, the scourge of the SME and something that is estimated to cost the economy £billions each year. eInvoicing to become mandatory in France With the EU version of Making […]
It may not be a question that you thought you’d have to ask yourself, but as a Director, part of your legal undertaking requires you to ensure that the business remains solvent and trades within its means. Operating outside of these boundaries could see the company being declared insolvent, struck off and you, as a Director, being penalised or disqualified – meaning you cannot be a Director again.
Back in 2015, then Chancellor George Osborne, shook up the dividend taxation system, overhauling an area of economic policy that had not been touched for years. But now the present day Chancellor, Jeremy Hunt, has signalled what appears to be the death knell for the allowance as he set out plans in November 2022, to reduce it to just £500 in the 2024/25 tax year.
A court case decided earlier this year has provided a fundamental change to the way that holiday pay is calculated for casual and part time workers. Companies previously paying holiday based on a percentage calculation must now use the calendar method, assessing holiday pay based on the average number of hours worked over the last year.
If your business is, or becomes, insolvent you must act with care to avoid wrongful or fraudulent trading. Here we explore the differences and implications of each.
In a slightly bizarre twist, as the Bank of England was announcing its recent interest rate increase of half-of-one-percent, it was also scrapping a key affordability test that lenders had to conduct to ensure borrowers could afford… an interest rate increase!
Changes to the rules around IR35 and the legislation being applied rigorously by HMRC is resulting in a number of high profile cases making headlines.