The Care Act introduces new responsibilities for local authorities. It also has major implications for adult care and support providers, people who use services, carers and advocates. From 1 April 2015 there will be: A new national standard for assessing care needs. More support for carers Changes to deferred payment agreements for care home costs. … Continued
Small companies will be able to report under the new EU Accounting Directive from 1 January 2016 with companies up to a turnover threshold of £10.2m able to use the new accounting regime. The rules will come into force on 6 April 2015 and early adoption of the new accounting directive will be permitted. Meantime, … Continued
Expected retirement incomes among 2015 retirees have hit a 6-year high, according to research by Prudential. The survey of more than 1,000 people planning to retire this year found that the average expected income is £17,000 a year. This is an 8% increase from the 2014 average of £15,800. Despite optimism increasing in 2015, expected … Continued
Small businesses could struggle to comply with an increase in auto-enrolment pension contributions, according to a report by the Association of Consulting Actuaries (ACA). The ACA is concerned that small firms will struggle to deal with the short period of time between auto-enrolling their employees in 2015 and 2016 and the minimum contribution increases in … Continued
Employers could gain the power to control funding for apprenticeship training, the Department for Business, Innovation and Skills (BIS) has announced. The plan is designed to help firms choose the training that suits the skills their business needs. The government outlined the plans in response to a consultation on the future of apprenticeships. The document … Continued
The Consumer Prices Index (CPI) rate of inflation fell sharply to 0.5% in the year to December 2014, from 1% in November 2014, official figures show. This is the joint lowest CPI rate on record and the lowest since May 2000. The Office for National Statistics said the low inflation was driven by falling food … Continued
CGT entrepreneurs relief is available when owners of trading companies sell their shares, provided certain conditions are satisfied for the 12 months prior to sale. One condition is that the individual has 5% voting control, but a further condition is that they are an officer or employee of the company. There have been a number … Continued
If your business bought a car costing more than £12,000 prior to April 2009, the writing down allowance has been restricted to £3,000 a year and the car was kept separate from other assets. For accounting periods ending on or after 31 March 2014 for corporation tax and 5 April 2014 for income tax, the … Continued
Recent editions of this newsletter have featured the important changes to personal pensions for those over 55 that take effect from 6 April 2015. From 6 April 2016 the new flat rate State Pension will be introduced, which is expected to be around £150 a week. A person’s actual entitlement will depend on their National … Continued
In last year’s Finance Act it was announced that the VAT rules for dealing with prompt payment (or early settlement) discounts would be changing from 1 April 2015. HMRC have now issued brief 49/2014 setting out guidance for businesses affected by the change, many of whom may need to change their invoicing procedures. From 1 … 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 🍫 🐇
2
Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
Sign up for news of BWM seminars and events
