Retired household income up 13% since 2008 Median income for retired households rose by 3.1% between 2014/15 and 2015/16, according to the Office for National Statistics (ONS). The latest disposable income and inequality statistics show that median income for retired households at the end of 2015/16 was £21,800. This is an increase of 13% (around … Continued
SME borrowing set to rise in 2017 SME borrowing is projected to rise 22% in 2017, according to Zurich. The survey of 1,000 SME owners showed that firms are planning to borrow an average of £41,770. This would see lending to SMEs rise to over £50 billion in 2017. Anne Griffiths, head of SME proposition … Continued
Self-assessment reminder The deadline to submit your online tax return for 2015/16 is no later than midnight on 31 January 2017. Here are the 5 step guide necessary to complete self-assessment on time. 1. Information you need You’ll need your most up to date records at hand, including: business expenses PAYE records (if applicable) VAT … Continued
Changes to the VAT flat rate scheme could have significant effects on the tax liability of small businesses that currently make use of the scheme. The flat rate scheme simplifies the process of calculating how much VAT a business needs to pay or claim back from HMRC. It introduces a fixed rate of VAT and … Continued
A number of tax and finance changes are set to take place in 2017. It is important to start planning ahead of time so that you take advantage of any opportunities available. Some of the changes are in the process of being legislated through parliament and may be subject to change. Salary sacrifice schemes Income … Continued
The Charity Commission (for England & Wales) updated their CC15 charity reporting and accounting guidance (published 27 March 2015) last month. The latest update, in the form of CC15d, incorporates the Charities (Protection and Social Investment) Act 2016 provisions concerning the reporting of fundraising in the annual report – coming in to effect on 1 … Continued
£17 billion extra a year will be saved into workplace pensions as a result of auto-enrolment by 2019/20, according to the Department for Work and Pensions. Estimates show that this figure will be made up of around: £8 billion in employee contributions £6 billion in employer contributions £2 billion of tax relief on employee contributions. … Continued
Two changes to business rates are due to come into effect from 1 April 2017. Whether the changes will affect your business will depend on its location and size. Revaluation Revaluation adjusts the value of business rates to take into consideration changes in the property market. It usually takes place every 5 years although there … Continued
Small businesses that have been rejected for finance by banks may be matched with alternative finance providers under a government scheme. The service will see participating banks pass on details of businesses they have rejected to alternative finance platforms. According to figures from the Treasury, 71% of businesses looking for finance only request it from … Continued
HMRC has published revised advisory fuel rates for company cars, applying from 1 September 2016. The rates are to be used only where employers either reimburse employees for business travel in their company cars, or require employees to repay the cost of fuel used for private travel. These rates apply from 1 December 2016. You … 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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