Entries by admin

What is changing in the new tax year

We are one week into the new tax year, and new rates and regulations which are to be introduced. So how will this affect you? Personal taxes The income tax personal allowance (how much you can make without paying any income tax) is to increase to £11,500, and the threshold for the 40% higher rate […]

National Minimum Wage: How Does the Increase Affect You?

As the National Minimum Wage for young people in the UK has been increased by the government, we look at what the changes mean for employers, and some of the common mistakes made by business owners. Firstly, what is the difference between the National Minimum Wage and the National Living Wage? Very little – just […]

Autumn Statement 2016: What Will Change in Your Business?

This week Chancellor Philip Hammond issued his first Autumn Statement to Parliament, in which he set out the government’s fiscal policy objectives, including a £23 billion investment in infrastructure over the next five years to combat a lack of unaffordable housing, the UK’s low productivity and revised-down growth forecasts. Flagship policies such as this are […]

Workplace Pension Auto-Enrolment

Did you know that the law states that employees must be able to obtain a Workplace Pension when working for an organisation in the UK? The first question that needs to be answered is ‘Who is entitled to a Workplace Pension?’ Any employee aged between 22 and the State Pension age, whose income is more […]

Late Payments: How to Claim Interest

For SMEs in all industries, late payments for goods and services can be a real issue. Cashflow is harder to manage for smaller suppliers, and SME owners can often feel helpless when dealing with larger customers.  A question on the lips of many SMEs we’ve spoken to is “What tools can I leverage to ensure […]

Are you ready for the National Living Wage?

With just a month left before the new National Living Wage is introduced, Leeds based accountants Thomas Coombs are encouraging employers to get the correct payroll processes in place. From 1 April 2016 employees over the age of 25 who are currently earning the minimum wage rate of £6.70 per hour will see a 50p […]