Budget 2016 announced a new “Lifetime ISA” that will be available to those aged between 18 and 40 from 6 April 2017. The Government will add 25% to the amount saved subject to a maximum of £4,000 a year (plus £1,000 from the Government). It seems there will be no requirement that the savings come […]
Staff Inductions
The quicker a new staff member is made aware of the procedures and policies of their new workplace, the sooner they are able to comply with company expectations. Your staff induction program should be delivered in a simple format that explains your firm’s policies and procedures, your expectations of them and their specific responsibilities. In […]
Paying interest on Directors Loans is better than Dividends now?
The new 32.5% rate on dividends received by higher rate taxpayers means paying interest on directors’ loan account credit balances is now more tax efficient than paying dividends, once the new £5,000 dividend allowance has been used. This will also avoid the accounting issue mentioned above if a market rate of interest is paid. Unlike […]
Scottish Taxes, Tax Diary June / July 2016 & P11D!
Scottish Taxes In these newsletters we tend to focus on tax matters that apply generally throughout the UK. However, under powers devolved to the Scottish Government there is now a different system of tax for the transfer of property in Scotland instead of SDLT. Please contact us if you are considering buying a property in […]
Changes next year for public sector workers “Off Payroll” & Tax Relief for Travel Expenses for IR35 Workers
Changes next year for public sector workers “Off Payroll” It was announced in the March Budget that Finance Bill 2017 will include measures to change the rules for those workers supplying their services to public sector bodies via their own company. The current rules require the intermediary to consider whether or not the IR35 rules […]
Key Account Management
Anyone in business will tell you that it is easier and cheaper to sell more products and services to an existing client than it is to go out and find a new client. Key Account Management or “KAM” is all about focusing on your key existing clients – your very best customers. In theory, this […]