A lack of digital skills is affecting business productivity and growth, according to the British Chambers of Commerce (BCC). More than 4 in 5 (84%) firms say digital and IT skills are more important than 2 years ago, however 76% say they are facing a digital skill shortage. Adverse effects of skills shortages include: increased … Continued
Employers with more than 250 staff are now required by law to report gender pay gaps, following the introduction of new legislation. Employers must publish the following figures by April 2018: their median gender pay gap – difference between midpoints in the ranges of men’s and women’s pay their mean gender pay gap – difference … Continued
The Government’s “Making Tax Digital” policy has been dropped from the Finance Bill after blanket opposition from taxpayers, business groups and senior political figures across all parties. The initiative would have forced millions of businesses and self-employed people to file multiple tax returns each year. Anita Monteith, tax manager at ICAEW, said: “This is … Continued
Important changes to public sector contractors working under IR35 legislation have taken effect for 2017/18. Individuals who work through intermediaries, such as personal service companies, are no longer subject to IR35 rules if they work in the public sector. Public sector organisations or agencies paying off-payroll workers are now responsible for deciding whether the work … Continued
More than half of adults don’t understand ISA rules, research by Opinium has found. Key findings: 1 in 5 knew that the ISA annual allowance is £20,000 for 2017/18 24% knew that you can transfer money from previous tax years into a current ISA 9% wrongly believed that you can only move money if your … Continued
In March 2015, George Osborne outlined the new concept of “making tax easier”. All the tax information relevant to an individual would be gathered into the taxpayer’s digital tax account, and the annual paper tax return would be consigned to history. This was designed to result in a reduction in the administrative burden for taxpayers. … Continued
It is advisable to review your will on a regular basis, particularly on marriage, divorce, the birth of a child or grandchild, the death of a beneficiary or executor. But some changes in tax law can also affect the provisions of your will. The introduction of the transferable nil rate band (NRB) between spouses in … Continued
The National Living Wage (NLW) for those aged 25 and over was increased on 6 April 2017 from £7.20 per hour to £7.50 per hour. It should be noted that the increases in the NLW rates are in April whilst those for NMW are in October and employers have to address these increases on a six monthly … Continued
Never assume your business interests will avoid Inheritance Tax. Many major shareholders and business owners are oblivious to the traps surrounding Business Relief, some of which can leave their estate at risk of a very large and unexpected Inheritance Tax (IHT) bill. Business Relief (BR), formerly – known as Business Property Relief, is much like … Continued
Money that would have otherwise gone to the taxman can boost your retirement savings, but action is needed before your company’s financial year-end. Salaries reduce your profits and, in turn, your Corporation Tax bill, so this is the most obvious way to move cash out of your business. An alternative form of remuneration is dividend income. … Continued
🎅🏻BWM Christmas opening hours🎅🏻
🎄The BWM office will be closed over the Christmas period from close of business on Friday 22 December 2023 at 12pm until 9am on Tuesday 2 January 2024. 🎄
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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Phone: 0151 236 1494
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