Fee Protection Service Small and medium enterprises (SMEs) are blamed for over half of the UK’s tax gap. The tax gap is the difference between the amount of money HM Revenue & Customs (HMRC) actually collects and the amount it believes is due. HMRC believes the current tax gap is £36bn and SMEs are responsible … Continued
Fee Protection Service To be or not to be self-employed, that is the question! At least it is the question HM Revenue & Customs (HMRC) is wrestling with, as it sets about targeting the ‘gig economy’ to determine whether people are genuinely in business. The number of people who work for themselves in the UK … Continued
Fee Protection Service High Net Worth Individuals (HNWIs) with a net worth > £10m attract particular attention from HM Revenue & Customs (HMRC). The High Net Worth Unit (HNWU) monitors the 8,500 richest individuals in the UK, who fit into this wealth bracket. The National Audit Office recently concluded a thorough review of the HNWU … Continued
Auto Enrolment – non-compliance risks your credit rating The Pension Regulator has reported that they are beginning to see the first employers receive County Court Judgements (CCJs) for a failure to pay their automatic enrolment fines. This can happen when they persistently ignore the penalty notices sent to them. If they don’t pay the fine … Continued
The Government initiative ‘Making Tax Digital’ (MTD) intends that the vast majority of businesses, self-employed people and landlords will be required to keep track of their tax affairs digitally and to update HMRC on-line at least quarterly within 30 days of the quarter end via their digital tax accounts. HMRC has been consulting on … Continued
CCAB has published a revised statement of recommended practice (SORP) for limited liability partnerships (LLPs). The LLPs SORP has been updated to reflect the new LLP Regulations that were issued in May 2016 and recent changes to UK accounting standards. The LLP regulations were amended in May 2016 by The Limited Liability Partnerships, Partnerships and … Continued
Do You Have Enough Shares To Qualify For CGT Entrepreneurs’ Relief? Entrepreneurs’ Relief reduces the rate of CGT to 10% on the first £10 million of gains on the disposal of qualifying business assets. This would include sole traders disposing of their business and partners disposing of their interest in a partnership carrying on a … Continued
New Government Savings Scheme Starts in April 2017 From April 2017,adults under the age of 40 will be able to open a Lifetime ISA (LISA) and pay in up to £4,000 each tax year. They will be able to continue making contributions up to the age of 50. The government will add a 25% bonus … Continued
Small firms pay above minimum pension contribution 37% of small businesses are paying above the 1% legal minimum contribution to an employee’s workplace pension. The People’s Pension survey of 898 business owners that have already passed their staging date found that the majority (70%) said auto-enrolment was beneficial to their staff. 50% said it was … Continued
Financial concerns affecting worker performance A quarter of employees have financial problems that are affecting their performance at work. A CIPD survey of over 1,800 UK employees found that 31% of those aged 18-24 are facing financial concerns that they feel are negatively impacting their ability to do their job effectively. 20% of those earning … 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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Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
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