Latest News

HMRC have Updated their Guidance on Salary Sacrifice Schemes

The rules for salary sacrifice arrangements changed with effect from 6 April 2017 and HMRC have updated their guidance for employers. Apart from 5 exceptions, the amount assessed as employment income for new salary sacrifice arrangements is now the greater of the salary foregone and the taxable benefit as set out in the tax legislation.

Increased Contributions for Workplace Pensions in 2018

Auto-enrolment of staff in workplace pension schemes now applies to even the smallest of employers, although there are exclusions. The current minimum contributions are 1% from the employer and 1% from the employee but these limits are scheduled to increase to 2% and 3% respectively from 6 April 2018.

HMRC Change Accepted Payment Options

After a fall in demand for the service, HMRC have announced they will be withdrawing the option to pay at a Post Office from 15th December 2017. Following this, they will also no longer accept payments via personal credit card from 13th January 2018. Although personal debit cards and corporate credit cards will still continue to be accepted.

New Restrictions for those in Pension Drawdown

One of the measures affecting pensions announced in the Spring 2017 Budget that was not included in the first Finance Act, concerns a new £4,000 pension input limit for those who are drawing income from their money purchase pension fund.

Changes to Pension Tax Relief in the Budget?

There is again speculation about further restrictions to tax relief on pensions in the Chancellor’s Autumn Budget. With the Chancellor looking to increase tax revenues without increasing tax rates, a raid on pension savings is an easy target as the cost of pension tax relief is estimated to be in excess of £35 billion a year.

Small Business Saturday 2017

Derby’s historic Market Hall, in conjunction with Derby City Council and Essential Print Services, will be hosting ‘Derby’s Festival of Small Businesses’ to celebrate the fifth year of Small Business Saturday UK.

The Market Hall event will offer two free business workshops, inspiring talks from local business owners, a business-to-business exhibition area and even the chance to be a Trader for the day. There will be plenty of opportunities to talk to like-minded, local business owners for help and advice.

Good Governance is Good for Business

Good governance is not about making the right decisions but about ensuring there is a good decision-making process used in the business.

Password Security

Every day, we read stories about the latest business to suffer from a cyber attack. Businesses install quality security software and password protected servers to guard against cyber threats. However, the weakest link in your IT security could be your employees and the strength of the passwords they use to log in to your systems.

Personal Development for You

Your personal development strategy begins and ends with you. You need to make the time to develop your skills in order to stay up to date. Otherwise, you could be left behind in today’s ever-evolving business world.

Getting your Team Onside

Managers should take ownership of the overall delivery of projects, but getting input from team members can help to get everyone invested in achieving the objectives. It also creates a sense of collaboration that can help reduce negativity towards “management”.

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