Pitched as a “Budget that puts the next generation first”, George Osborne’s speech contained a number of announcements aimed at helping people save for the future. For businesses, measures included changes to business rates and the abolition of class 2 national insurance contributions for the self-employed. And, as we’ve come to expect from such occasions, … Continued
From 6 April 2016, with the exception of ministers of religion, the £8,500 threshold is to be abolished. This means that from this date employees earnings at a rate of less than £8,500 will be taxed on their benefits in kind (BiKS) in the same way as employees earnings at a rate of £8,500 or … Continued
The Pensions Regulator has launched a new interactive step by step guide to help small and micro employers with automatic enrolment. The guide begins with a ‘Duties Checker’ that asks you simple questions to establish whether you need to put any of your staff into a pension scheme. It then provides information about the tasks … Continued
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Registering as a contractor at the right time If you want to start paying subcontractors you need to register with … Continued
On 1 April 2016 the National Living Wage will become law. Employers need to prepare for the changes and make sure they follow these four simple steps: Know the correct rate of pay – £7.20 per hour for staff aged 25 and over Find out which staff are eligible for the new rate Update the … Continued
Up to 500,000 small and micro employers are due to stage in 2016, with 87,000 filing Declarations of Compliance in January 2016. The Pension Regulator has issued nearly fifteen hundred £400 fines, during the period October to December 2015. The Regulator has issued the following statement: Research shows that most employers want to do the … Continued
Auto-enrolment has been a success for larger employers, but the “real test” lied ahead as smaller employers begin to enrol their employees, a report by the Public Accounts Committee has concluded. 1.8 million smaller employers will soon begin the process, but the committee notes that The Pensions Regulator does not yet have access to the … Continued
The number of people choosing to become self-employed has continued to grow, making up 15% of the total workforce. Now numbering a record 4.6 million, the self-employed population has increased by 80,000 since 2008. The analysis by the Department of Business, Innovation and Skills also shows that becoming self-employed is proving increasingly attractive to older … Continued
The government has introduced a range of measures aimed at removing barriers that may be stopping people from being able to access their pensions. In January, the Chancellor announced that he would be giving the Financial Conduct Authority (FCA) the duty to cap excessive early exit charges. FCA data shows that around 16% of customers … Continued
Dispensations P11d dispensations for expenses will be replaced from 6 April 2016 and will be replaced with other legislation. At the moment, if you pay or reimburse deductible expenses (or provide benefits in kind that are covered by a matching deductible expense) to any of your employees, you have to report these on the return … 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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