The four-day week – would it work for you?
More than 70 companies and organisations with over 3,000 staff are taking part in a pilot four-day working week, with no loss of pay for the employees. So,that’s 100% of the pay for 80% of the time, as long as at least 100% productivity is maintained. Similar pilot schemes are running in other parts of […]
The personal tax allowance – it can “disappear”
Currently, a taxpayer is entitled to a personal tax allowance of £12,570 p.a. which converts to a tax code of 1257. The tax code will usually be shown on the payslip. In some instances, the figure will be higher than this, but for many people it will be lower. For those with taxable income in […]
Do you have significant capital expenditure plans for your limited company?
Get the timing right to maximise tax benefits. Life in taxation is always a moving goalpost – and things might change. However, as the rules currently stand, the 130% “super deduction” capital allowances will cease on 31 March 2023 and the 100% Annual Investment allowance limit reduces from £1 million to £200,000 from that date […]
In a financial crisis -keep an eye on your debtors!
Late payments are expected to grow significantly in the coming months following rising inflation and interest rates. Cashflow is necessary to fund business growth, paying the wages and your suppliers. There are various tools available to monitor the financial health of your customers and to automate debt chasing. There are also ways of making it […]
Having problems with your software? Send a video to support……
For those on the end of a support line, trying to replicate issues that are reported is often a problem. The same applies when your staff need to be informed as to how to do something using a software program. A detailed list of instructions with screenshots and text is one solution, but this can […]
Do your employees contribute ideas to the business which improve profitability or efficiencies?
Reward them tax free-subject to certain conditions. The employer’s scheme needs to be open on the same terms to: all employees; or a particular category of them, for example, a scheme open to all employees in a particular geographical area will satisfy this condition; the suggestion must relate to the activities carried on by the […]
Taking on your first employee
There are many rules that new businesses must consider when they start employing staff for the first time. These include registering for PAYE as an employer with HMRC. This must be done before the first payday, and this also applies to limited company directors who are going to be paid by the company. You do not […]
Bookkeeping – a necessary evil?
Every business needs to keep accounting records – a summary of the financial transactions of monies in and out. This can be simple-literally just that record of receipts and payments, or it may be more complex, with invoices, foreign currency payments and receipts, sales via different platforms, etc. There are many apps and tools which […]
PAYE Tax Coding – is your Coding right?
Many employees simply look at the money coming into the bank – without ever looking at their payslips! An important figure on the payslip is the gross pay – is the amount being paid at the agreed rate? Another very important figure though is the PAYE tax code, which determines the amount of tax being […]
System Changes – automate your business
As software continues to innovate, there are many standard business processes that can be automated. Why automate? The old saying says, ‘If it ain’t broke why fix it?’ but automation has many benefits. Manual processes can be laborious, time consuming, repetitive, and boring. Saving time is therefore one of the significant benefits, and accuracy is […]
