A STAFF SUMMER PARTY CAN BE A TAX-FREE BENEFIT

Your organisation may have an annual Christmas party for staff, but the tax rules also allow staff parties at other times of the year which are a tax-free benefit if certain conditions are satisfied.   The exemption applies to an annual party (for example, a Christmas party), or similar annual function (for example, a summer[…]

PERSONAL SERVICE COMPANY CHANGES FROM APRIL 2020

In the Autumn Budget the Chancellor announced that the “off payroll” workers rules that currently apply in the public sector would be rolled out to the private sector in 2020. The government have now issued a consultation paper that sets out proposed tax and national insurance changes that will impact on those supplying their services[…]

DOCTORS LOBBYING FOR PENSION TAX CHANGES

Hospital doctors and GPs are lobbying the government to amend the pension tax rules as the current system of restricting tax relief on pension contributions means many doctors paying almost all of the extra salary back in tax if they take on additional responsibilities or work additional shifts. This is an issue that doesn’t just[…]

HIGH INCOME CHILD BENEFIT CHARGE AND STATE PENSION

In previous blogs we’ve looked at tax planning to minimise or eliminate the high income child benefit to keep both husband and wife (or civil partners) looking after a child below the £50,000 threshold.   Where the income of one of the individuals exceeds £60,000 such that the whole of the child benefit is taxed[…]

CONNECTING IN THE DIGITAL AGE

It’s time to rethink how we connect with customers, suppliers, colleagues and the business community.   The way we work is becoming increasingly digital. Today it is normal for people to work remotely at least one day per week and as the future of work looks set to become more and more focused on digital,[…]

SETTING UP A NEW HIRE FOR SUCCESS

No one has a bigger impact on a new employee’s success than the manager who hired them. Here are some tips on how to set your new hires up to succeed.   What is ‘onboarding’ Investing time in onboarding brings new employees up to speed faster, which means they’re more quickly and efficiently able to[…]

MISTAKES ARE OPPORTUNITIES TO LEARN

We can learn more from failure than success.   According to Richard Branson, “One thing is certain in business. You and everyone around you will make mistakes.” If we are all spending time making mistakes, it makes sense to learn from them.   Failure is a critical part of building a successful career, and how[…]

EFFECTIVE MULTI-TASKING

Over the past 10 years or so businesses have become leaner by reducing employee numbers, focusing on efficiency and increasing the demands on their staff. An increased workload forces us to multi-task, which may be effective for a short period of time, but over the long term, can cause stress.   Multi-tasking is not about[…]

EXTRACTING PROFIT FROM THE FAMILY COMPANY

The start of the new tax year means that shareholders/directors may want to review the salary and dividend mix for 2019/20. The £3,000 employment allowance continues to be available to set against the employer’s national insurance contribution (NIC) liability which means that where the company has not used this allowance it may be set against[…]