Minimum Wage increase – April 2017

Do you have apprentices? Do you pay Minimum wage? Here are the increases in pay rates that you need to be aware of from April 2017  Age From 1 April 2017 (current) Rate per hour From 1 October 2016 Rate per hour  25 and over (National Living  Wage)  £7.50  £7.20  21 and over  £7.05  £6.95  18 to 20  £5.60  £5.55 … Continue reading

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BECOME A MORE EFFECTIVE MANAGER

In the current economic environment, businesses are demanding more and more of their managers. Here are some tips to help you to become a more effective manager. The best managers are those that step back and let their team do their job without standing over the shoulders. You can’t do everything yourself. Instead, assign each member of your team personal … Continue reading

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INNOVATION NEVER STOPS

It seems there is a new way of doing business being created every week. Disruptive, technology driven, new business models are constantly being developed by the likes of Uber, Skype, Amazon and Air BnB. Your business might hold an established position in the market today but that doesn’t mean that you and your management team can be complacent. Disruption and … Continue reading

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SKYPE TRANSLATOR

Skype Translator allows users to talk to people anywhere in the world with real time translation. Skype has designed the system in order to break down language barriers between friends, family and colleagues. Recently, Skype has expanded the availability of its real-time translation feature, integrating the tool with calls made to mobile phones and landlines. Previously, the translation feature, which … Continue reading

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DON’T LOSE YOUR PERSONAL ALLOWANCE!

For every £2 that your adjusted net income exceeds £100,000, the £11,000 personal allowance is reduced by £1. Pension contributions and Gift Aid can help to reduce adjusted net income and save tax at an effective rate of 60%. The restriction applies between £100,000 and £122,000 adjusted net income. Another way that you could avoid this trap would be to … Continue reading

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MAKING TAX DIGITAL TO START IN APRIL 2018 #MTD

Legislation to introduce Making Tax Digital (#MTD) will be included in the Finance Bill 2017 and despite many objections that it was too soon, the new system of quarterly reporting will commence in April 2018 for the self-employed and property landlords. > There were 1200 responses to the consultation documents issued in summer 2016 and a number of changes have … Continue reading

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NEW RULES FOR IR35 WORKERS IN THE PUBLIC SECTOR START 6 APRIL 2017

There are significant changes that commence on 6 April 2017 for workers in the public sector supplying their services via their own personal service companies or other intermediaries. From 6 April 2017 the public sector employer or agency that engages the worker will have to review the employment status of the worker and decide whether or not to deduct tax … Continue reading

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Scaling Up

 Increasing the scale of a business is easier said than done. If your business objective is to scale up, you need to consider the people aspects, strategy and financials.  People make the firm People determine a company’s success, and hiring the right people is critical. Hiring a team of great people will help to solve most of the problems the … Continue reading

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WEARABLE TECHNOLOGY

Wearable technology is one of the biggest trends in IT and tech at the moment. The consumer market has embraced wearables such as smart watches and virtual reality headsets. However most businesses are still developing their strategies for making the most of the wearable technology trend. Over Christmas I had the joy’s of watching Nan have a go on my … Continue reading

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MORE ON THE NEW HIGHER VAT FLAT RATE PERCENTAGE

As covered in the Autumn Statement newsletter a new VAT flat rate of 16.5% applies from 1 April 2017 for “limited cost traders”. This is being introduced as HMRC believe that the current system is being abused by some businesses providing their labour but who have very few costs. The flat rate scheme was originally introduced as a simplification measure … Continue reading

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