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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  […]

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 […]

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 […]

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 […]

Auto Enrolment = Workplace Pension

Auto Enrolment = Workplace Pension As we have been meeting with small and micro employers over Bristol and the South West my colleagues and I find that employers are unaware of the extra work and responsibilities Auto Enrolment brings.  For some employers they don’t realise that Auto Enrolment is the main part of workplace pensions […]

What The Pensions Regulator doesn’t tell you!

What The Pensions Regulator doesn’t tell you! Yesterday I met with a Financial Advisor from Sanlam Wealth Planning to discuss the different pension options for companies.  We were both in agreement that The Pensions Regulator’s Guide lacks clarity on how to weigh up your different options and doesn’t necessarily give the employer the whole picture […]

Pros and Cons of Zero Hour Contract for employers and workers

Pros and Cons of Zero Hour Contract for employers and workers What is a Zero hour contract? A zero hour contract is a contract between an employer and a ‘worker’ where there is no obligation for the employer to offer work, or for the employee to except it. Am I classed as a ‘worker’? According […]

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Salary vs. Dividends – The Facts for Directors

Do you own your own company? As a company owner you are in a favourable position: you benefit from being rewarded as a director and a shareholder. Directors take a salary from the company. Shareholders draw dividends. By splitting your income between salary and dividends you could generate large income tax and national insurance (NI) […]