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Tips and Advice to help you grow your business

Public Sector Contractors: New IR35 Rules

What’s changed for Public Sector Contractors? From April 6 this year, new IR35 rules became applicable to service contracts in the public sector. The responsibility and liability for IR35 now shifts from the contractor to the public authority under this new legislation. Therefore the public authority will assess each engagement and decide whether IR35 applies or… Read More

Employing a new staff member: The MUST dos

Are you thinking about hiring a new staff member? Is it your first time? We asked HR expert Heather Mills (Duck Soup HR) to provide us with a checklist to ensure compliance with the relevant employment laws when hiring a new staff member:   1. Do you pay at least the National Minimum Wage? It’s a legal… Read More

Your savings income: What is it and how is it taxed?

What is your savings income? Your savings income comprises of interest from banks, building societies, national savings and investments. It also includes company and unit trust dividends but it doesn’t include pension income because this is taxed as employment income. How is it taxed?  The way savings income is taxed has changed radically and from April 2016 banks… Read More

Launching a startup – the legal bits

  Last month we discussed moving from your initial idea to a robust business plan. This month we consider the basic elements  you need to get right from the outset when launching a startup:   The structure when launching a startup: Sole trader, company or partnership…which is best for you, and how do you know? The decision… Read More

National minimum wage

With effect from April 2017, the national minimum wage has increased to £7.50 per hour. This increase applies to employees, including directors. However, if your employee is an apprentice, they are entitled to the apprenticeship rate: If your employee is aged 25 and over, and works for 40 hours in a week, your annual salary payout… Read More

Payrolling benefits – what you need to know

In 2016, HMRC introduced a scheme to payroll benefits in its bid to simplify tax administration. What is payrolling benefits? It is the ability to include all taxable benefits in your employees payroll. This includes benefits such as cars, mobile phones, cash vouchers and credit tokens, but excludes: Any living accommodation you have provided as the… Read More

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