The Insurance Act 2015 (‘the Act’) received Royal Assent on 12 February 2015 and comes into force on 12 August 2016 applying to all contracts of commercial insurance entered into or varied on or after this date. The Act makes changes to the following areas of commercial insurance law: the duty of disclosure and remedies available for material … Continued
Changes were brought in on 6 April 2016 to employer duties for directors and partners in limited liability partnerships. Here we explain what has changed. Before 6 April 2016… Directors of limited liability companies where there were no other directors or employees were exempt from the employer duties – they didn’t have to be auto … Continued
A third of workers globally do not have a retirement plan, according to research by Aegon. The survey of 14,400 employees and 1,600 retired people across 15 countries found that providing workers with access to workplace pension plans is a significant factor in ensuring that they are saving for their retirement. 41% of those surveyed … Continued
The majority of employees value a steady income as much as the amount of money they receive. A survey by Citizens Advice asked 2,067 people what they valued most from their employment: level of pay (93%) reliability of income (92%) opportunities for experience (84%) being passionate about what they do (82%) progression opportunities (74%). 83% … Continued
The deadline for the second payment on account for tax paid through self-assessment is 31 July 2016. Payment is required if the tax bill is more than £1,000, unless you’ve already paid more than 80% of all tax you owe. 2 payments are due each year – on 31 January and 31 July. Each payment … Continued
Businesses will need to submit their tax and financial information quarterly using software that’s compatible with HMRC’s systems. In a letter to financial secretary to the Treasury David Gauke, Andrew Tyrie, chairman of the Treasury Select Committee, said that submitting records in a “prescribed digital format” would bring a financial burden to small firms that … Continued
Tempting though it may be to hide our heads under the collective blankets, there’s no escaping the need to start pondering the impact of Brexit. It seems all but inevitable that this will now go ahead. And no-one knows how this is going to pan out, other than the transition is going to be painful. … Continued
1. Who do you want to inherit your assets? Without a Will, rules of intestacy dictate who gets your estate and this may not be the people you would want or possibly not in the proportions you would like. A surviving spouse may not receive the whole of the estate and will instead, have to … Continued
The changes in the taxation of dividends along with the abolition of tax deduction at source on interest paid is likely to cause additional compliance work for trustees. Neither the new dividend tax allowance nor the personal savings allowance will apply to trustees. Trustees of income interest in possession trusts have previously not had any … Continued
With the penalties for non-compliance potentially having a large financial impact on employers, it is important to understand the pitfalls. Among the most common mistakes that a small business might make with regards to auto-enrolment are: not aligning our staging date with payroll payment dates (you can do this by postponing your start date) starting … 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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