Statutory Maternity Pay
You, as an employee, get SMP for up to 39 weeks. You get it according to your wages, weekly or monthly. However, the tax and national insurance are subtracted from the amount. For the first six weeks, you get up to 90% of your average weekly pay, that is, before taxes. For the next 33 […]
Operation of PAYE
The collection of national insurance and income tax from employment is made through the PAYE system introduced by HM revenue and customs (HMRC) in the United Kingdom. You deduct the PAYE amount from your employee’s payroll according to the PAYE information provided to you by the HMRC. An account of earning and tax deduction in […]
Losing Clients
The Story The COVID-19 pandemic has hit businesses all over the world. Recent statistical analysis shows that most companies have lost clients during the pandemic. It is hard to get back the old customers and finding new ones can be even harder. If you are losing your clients, here are some things that will help […]
Brexit
Brexit: Are you prepared? With the Brexit transition period now finally coming to an end, there will be new rules in place as of January 1st 2021 for businesses and individuals. While details are still left to be decided, as a business and individual there are some things you need to be looking out for […]
Mental health
Mental Health and Wellness during the Lockdown In the wake of COVID-19, the reality of life as we know it is being redefined on a daily basis. As we grapple with the evolving scenarios, the many challenges that come our way everyday are causing fear, stress, anxiety and exhaustion. It is natural to struggle with […]
Employment law
On 1 January 2021, UKs’ transition period as it leaves the European Union came to an end. As a business owner and employer this has a considerable effect on your employees and employment policies. For the first time in over 4 decades, EU/EEA and Swiss nationals will be subject to the same immigration controls as […]
Effects of Benefit in Kind Tax and Vat
Effects of Benefit in Kind Tax To understand the effects of benefits in kind tax, first, let us address what “benefit in kind” means. They are benefits directors or employees receive, which are not usually part of the wages or salary. Other terms used for benefit in kind are “fringe benefits” or “perks”. To be […]
Best Business Account for Small Businesses
Best Business Account for Small Businesses/Startups Choosing an account when starting a new business is a crucial step. You need to select the account that fits your business requirements. If you own a small business or planning a startup, this article will help you decide what to look for in a business account. As a […]
Mitigating Small Business in rising Inflation
The Story The financial response to economic pressures causes inflation. Inflation ripples its way through the economy hitting different businesses in different ways. COVID-19 greatly affected business, making situations more challenging for small business owners like you. It may impact your business negatively by lowering your profit margins and decreasing consumer demand. Inflation might not […]
Benefits of umbrella (002)
Benefits of umbrella Working with an umbrella company allows you a ‘contractor’ to be an ‘employee’ of the umbrella company, which means you can concentrate on doing your work hassle-free while letting the company focus on the administrative side of things. Like all options in life, working with an umbrella company comes with its benefits […]