April 2017 Updates

Dividends vs. Salary Company Directors often pay themselves a small salary and obtain the remainder of their income from dividends, based on the company’s profits.  This helps to keep personal tax liability to a minimum whilst ensuring that National Insurance contributions are made. In previous years, dividends were tax-exempt; however, George  Osborne’s tax reforms introduced  […]

Not Yet 40? Better Meet LISA!

Not Yet 40? Better Meet LISA!   Have you heard about the new Lifetime ISA?  Launched this month, it provides a new means for you to squirrel money away for one of two purposes: to save for a deposit on your first property or to use as you wish once you reach 60. The LISA […]

Employee Wellbeing and the Impact of Stress on the Workplace

Employee Well-being and the Impact of Stress on the Workplace     It’s the first day of Spring and the sun is shining through the office window. Whether your staff are out and about in the fresh air or sitting at a desk looking at a screen, how they feel about their working environment, and their sense […]

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Apprenticeship Levy 2017

Apprenticeship Levy 2017 The Government aims to create 3 million new apprenticeships by 2020 and is funding this through new employer contributions.  This Apprenticeship Levy comes into effect from April 6th, 2017. Employers will be expected to pay the Apprenticeship Levy if they: Have an annual pay bill of more than £3 million Are connected […]

National Minimum Wage Rise April 2017

National Minimum Wage Rise April 2017 The National Minimum Wage (NMW) is the hourly rate of pay that workers in the UK are entitled to by law.  The rate changes according to the employee’s age and whether they are employed as an apprentice. The table below shows the current NMW rate of pay and the […]

Salary Sacrifice Schemes

Salary Sacrifice Schemes Employers: do you know that the rules regarding salary sacrifice schemes are due to change next April?  Have you considered what this will mean to your company budget? Employees: do you drive a company car or benefit from a company mobile phone, paid for through a salary sacrifice scheme?  If you do, […]

Opting OUT

Opting OUT Eligible employees have the opportunity to opt out of their employer’s chosen pension scheme.  If you are eligible for Auto Enrolment and considering opting out, you need to be aware of the following important pieces of information:  You still need to be enrolled along with your fellow employees Government legislation requires all business […]

Know your Auto Enrolment (AE) Responsibilities

Know your Auto Enrolment (AE) Responsibilities What all employers need to know about AE: All employers have a duty to ensure that their workforce is assessed for AE, enrolled if they are eligible, and informed of their pension scheme rights and responsibilities. All employees are entitled to know about AE and what it means for […]

More changes for employers: Is your Business ready for the new compulsory National Living Wage?

More changes for employers: Is your Business ready for the new compulsory National Living Wage?   From April 2016, the government will introduce a new mandatory National Living Wage (NLW) for workers aged 25 and above, initially set at £7.20, a rise of 50p relative to the current National Minimum Wage (NMW) rate. That’s a […]

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Why We Must Become A Society Of Savers

Why We Must Become A Society Of Savers Active and Passive Savers When it comes to pensions, we are a society divided in two: those who plan for their future and those who do not. Some aren’t consciously planning for old age but are lucky enough to have a certain amount of security provided for […]