Consider this case study: Bill Smith, a self-employed electrician, purchased a brand new van 15 March 2014 for £18,000. Due to a downturn in the local economy his trading profits for the year to 31 March 2014 were just £9,400. Fortunately, he had secured a number of regular contracts for the following year that should net […]
NIC employment allowance
HMRC have published further clarification regarding who can, or cannot, claim the new £2,000 a year NIC Employment Allowance. Extracts from the update are set out below: Public authorities Public authorities (such as local authorities, town councils and parish councils) are not eligible for the Employment Allowance unless they have charitable status. Pharmacies Independent pharmacies […]
Effective Delegation
We all understand the importance of delegation, yet very few know how to do it properly. Here are a few tips to help you delegate work effectively. Realistic Deadlines It is important to note that overloading your team will have a negative impact, so before you delegate work make sure that you understand how much […]
Being a Better Manager / Leader
Today’s challenging business environment requires more from managers and business leaders. Here are a few tips to help you focus on being more effective. Work to Your Strengths Many of us spend too much time worrying about our shortcomings. Try to focus on the things that you are good at and use these strengths for […]
Getting the Induction Process Right
In a world where the latest generation of “millennial” workers are prone to changing jobs, the importance of a good employee induction plan can no longer be ignored. In order to get your induction process right you need to consider: How long it takes new employees to become a productive member of the team How […]
Microsoft Office for iPad!
It has been a long time coming, but it seems that Microsoft have finally realised that most businesspeople want to use Microsoft Office on their iPad. The company have recently released individual versions of their Word, Excel and PowerPoint programs that will work on an iPad, making it possible for users to switch seamlessly between […]
Small business VAT scheme
If you are a registered VAT trader and your present turnover is below £150,000 you may be advised to take a look at the VAT Flat Rate Scheme (FRS). FRS users pay VAT as a fixed percentage of their total sales including VAT. You still add 20% VAT to your invoices but you cannot reclaim […]
International tax competitiveness
David Gauke, the Exchequer Secretary to the Treasury, recently gave a speech to the Lord Mayor’s Taxation Forum. His presentation focussed on international tax competitiveness, and how the UK’s system fares compared to our overseas competitors. Here’s an extract of his comments: Competitiveness “Since 2010 we’ve cut corporation tax from 28% to 21%. And this […]
Businesses in automotive supply chain to benefit from new grants
Skills and Enterprise Minister Matthew Hancock unveiled £25 million of additional support for businesses to take the lead in improving training for new and current employees. Businesses can submit their proposals from 6 May 2014 and the offer will be open for 12 weeks. Speaking at a UK Commission for Employment and Skills Investment Showcase, […]