As of 1 September 2013, employees can choose a new employment status allows them to waive certain employment rights in exchange for shares in their employer’s company. Employees cannot be forced into ‘shareholder’ status and they must be given – rather than purchase – a minimum of £2,000 worth of shares in their employer’s company. … Continued
Here’s a summary of some changes that may affect you and your business, that are due to come into force in October 2013. However, at the time of writing, they are still subject to Parliamentary procedure: Directors’ remuneration reports Company directors will be required to disclose and communicate key information regarding their pay to shareholders. … Continued
Company Directors are the subject of a new HM Revenue & Customs clampdown aimed at ensuring they submit personal tax returns. It forms part of HMRC’s taskforce scheme, which usually operates in “short, sharp bursts of activity” in targeted areas of the country and perceived high-risk industries. HMRC inspectors have started the crackdown in a … Continued
This has always been a major bugbear of the tax rules, as where there is both a business and a personal reason or benefit in meeting an expense, there is no tax relief on any of it. There are a few exceptions; for example, if the expense can be properly split between business and personal … Continued
HMRC have announced 4 new taskforces that will investigate tax evasion in specific commercial and geographical sectors. The taskforces bring together various compliance and enforcement teams for what they term “intensive bursts of targeted activity”. The new taskforces will investigate the following: Construction industry in London (expecting to raise £3 million) Security guards, bouncers and … Continued
As mentioned in previous articles, there has been a tightening of the rules regarding the receipt of a loan from a close company. The company can be taxed 25% on the amount of a loan drawn by a shareholder which is still outstanding more than 9 months after the end of the company’s accounting period. … Continued
In autumn 2015, employer-supported childcare will be replaced by a tax-free childcare scheme. However, employees may choose to remain in those schemes or switch to tax-free childcare. The new scheme is designed to help families and the Government will provide 20 per cent of working families’ childcare costs (subject to an annual limit of £1,200 … Continued
According to recent Department for Business, Innovation and Skills (BIS) surveys the majority of apprenticeships provide benefits to apprentices and business. Eight out of ten (83%) apprentices said their apprenticeship improved their ability to do their job and boosted career prospects. In a separate survey, 72% of employers said apprenticeships improved their product or service … Continued
Due to the demand across Britain, the number of Foodbanks operating has been considerably increased. The Liverpool Central Foodbank operation has been significantly expanded and they are now offering 12 sessions each week in five different locations. Oxfam director Chris Johnes has blamed the rise in demand on ‘a perfect storm of rising living costs, lack … Continued
HMRC’s consultation on amending the periodic and exit charges on relevant property trusts, which ended last week, has attached some criticism. The key proposal is to split the inheritance tax nil-rate (NRB) between all trusts set up by the settlor, instead of the current system under which each separate trust is entitled to a full … 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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