Research has found that 55 per cent of businesses believe they would cease trading as a result of the long-term incapacity, illness or death of a key employee. However, only one in five companies has key person insurance in place to provide cover in such an emergency. Other findings from the Scottish Widows 2013 Business … Continued
On 6 April 2014, the annual and lifetime allowances for pension contributions will be reduced. It’s likely to affect a greater number of individuals than what Government figures suggest, according to pension provider Standard Life. What’s changing? • The maximum value of pension savings an individual can accrue in their lifetime before a tax charge … Continued
IHT business property relief is extremely valuable, as on your death it effectively eliminates inheritance tax on the value of the property. The problem is that, following recent case law, HMRC are likely to resist any claims on the grounds that the activity of letting properties is nothing more than an investment, even where the … Continued
The latest campaign from HMRC is aimed at chiropodists, psychologists and homeopaths who feel they might not have declared all of their income. It offers the usual time-limited disclosure opportunity in which to bring tax affairs up to date on preferential terms. The campaign is not intended for doctors and dentists, who were covered by … Continued
This measure allows HMRC to nullify an arrangement which is held to be abusive in terms of avoiding tax. This is all fairly subjective, but HMRC have published guidance on how they will operate the new rules which do give some comfort. In particular they have detailed the approach to take when considering whether the … Continued
Employee benefits, such as childcare vouchers or a pool car, can help businesses to improve staff retention, absence rates, productivity and relations. Recent research by the Chartered Institute of Personnel and Development (CIPD) shows that more employers and HR professionals are aligning their staff benefit packages with the company’s objectives. The research revealed: • firms … Continued
The UK’s small and medium sized enterprises (SMEs) could be losing up to £3.7 billion as a result of poor internal systems and financial accounting, according to a recent survey by business software provider Exact. Some SMEs admit to failing to invoice for services worth more than £10,000. The nationwide survey found that: • One … Continued
This valuable allowance is due to start for all businesses on 6 April 2014, and simply exempts the employer from the normal employer NICs of 13.8% of the earnings paid. The mechanics are that the allowance will be obtained via standard payroll software and HMRC’s RTI system. A facility will be added to the RTI … Continued
A reminder that the Auto Enrolment Scheme imposes a legal obligation on employers to enroll employees into a pension scheme that meets certain standards. The start date for auto enrolment varies, but all employees aged between 22 and the state pension age must be enrolled into a pension scheme, unless they earn up to the … Continued
Trustees’ Week is an annual event to showcase the great work that trustees do and highlight opportunities for people from all walks of life to get involved and make a difference. Trustees are the people in charge of a charity. They play a vital role, volunteering their time and working together to make important decisions … 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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