Stress awareness reminders for employers
Could more stress awareness lead to productivity gains? During Stress Awareness Week 2024, held during November, the Health and Safety Executive (HSE) used the occasion to remind employers of their need to carry out their legal duty to prevent work-related stress and support good mental health at work. According to HSE figures, 17.1 million working […]
Not yet VAT registered? Ensure you keep a rolling 12-month turnover summary!
A business with turnover in the previous 12-month period exceeding £90,000, or turnover is expected to exceed £90,000 in the next 30 days is required to register for VAT. If a trader is already registered for VAT, starting another business means registration has to be immediate. It is essential you monitor the turnover closely. […]
Inflation on the rise again
What the latest figures mean for businesses The latest inflation figures from the Office for National Statistics (ONS) reveal that the Consumer Prices Index (CPI) for October 2024 rose to 2.3%, up from 1.7% in September. This marks the first increase in inflation since July, and it has sparked interest among business owners, economists, and […]
The effects of cutting prices – do you realise how much more you need to sell to achieve the same level of profit?
It is very easy to reduce prices, but in doing so, this will affect your gross profit margin. Yes, it might be that you actually increase unit sales, but will this increase your bottom-line profit, or will you make less money? How much harder might you have to work to sell more? To […]
Employers must take “reasonable steps” to prevent sexual harassment
New legal duty in force Employers now have a new legal duty to take “reasonable steps” to prevent sexual harassment of employees. This duty requires employers to anticipate when sexual harassment may occur and take reasonable steps to prevent it. If sexual harassment has already taken place, then an employer would need to take action […]
The annual staff Christmas Party – watch for any tax implications
As a business owner, it is only natural to consider things from a financial perspective. One example is planning your Christmas party. While many prioritise the enjoyment of the party itself, understanding these financial implications can help you make the most of your budget and even enhance your festive celebrations. The Christmas party qualifies as […]
Agricultural and business property relief
What happened in the Budget? Changes to inheritance tax were announced in the Budget that have caused consternation and resulted in protests by farmers and business owners across the UK. What exactly is changing and what could this mean for you? What are agricultural and business property relief? Agricultural property relief (APR) is a type […]
The 2024 Budget and changes to National Insurance
The ramifications of the Chancellor’s Budget announcements regarding Employer’s NI changes are now clear. These come into effect from April 2025. For those that employ staff, some businesses will be winners, but there will be many losers too. NI is currently paid on earnings over £9100, but this will drop to earnings over £5000 from […]
No VAT payable if paying by cash!
How often have you heard this? How often have you seen someone actually put this on their invoices!!! You may have come across this frequently in the building trade, but there are anecdotal reports of other businesses such as lawyers asking for payment in cash too (which they would collect to save it going to […]
Chancellor pushes for e-invoicing
Could that help or hinder your business? As part of a series of announcements made in recent weeks by the Chancellor, the government is making a push for greater use of electronic invoicing (e-invoicing). HM Revenue and Customs (HMRC) will soon launch a consultation on encouraging the wider use of e-invoicing, with the goal of […]