A reduction in the lifetime allowance (LTA) for pension savings could cost savers billions in unexpected tax charges according to research from Standard Life. The LTA – the maximum amount an individual can accrue in pension savings in their lifetime before triggering a tax charge – falls from £1.5 million to £1.25 million in April[…]
Micro employers will be given until April 2016 to adapt to the real time information (RTI) system for reporting PAYE payments, HM Revenue & Customs (HMRC) has announced. Micro employers – those with fewer than 10 employees – who need more time to adapt to RTI can continue reporting PAYE information on or before the[…]
The Business Secretary, Vince Cable, has launched a consultation into the understanding and use of zero hours contracts. Official figures suggest that there are 250,000 people employed under zero hours contracts, which offer no guaranteed hours or pay and are typically used for low-paid, on-call workers. The Chartered Institute of Personnel and Development has said[…]
The number of small and medium-sized enterprises (SMEs) in the UK reached a six-year high of 2.16 million in 2013, according to the National Association for Commercial Finance Brokers (NACFB). The data reveals that 86,435 SMEs have been created in the past two years, increasing the SME population by 4.2 per cent. This follows the[…]
Whitmar Publications Ltd v Gamage and others – Former employee ordered to give employer log-in details of a LinkedIn Account. Mr Gamage, Ms Wright, and Mr Crawley were long-term senior employees of Whitmar Publications Ltd. They all resigned on 7 January 2013, stating their intention to set up a competing company, Earth Island. It came[…]
Key things you can do to help maintain the mental health of your employees and help those with mental health problems remain in work and productive include: Spot the signs. This may initially mean taking a note of what you see as you walk around or in team meetings and then choosing the right moment[…]
In difficult times, young people can be particularly disadvantaged when it comes to recruitment and selection. As they leave school, college and/or university, they can bear the brunt of the economic downturn and find it difficult to compete in a jobs market which becomes more competitive with fewer opportunities and increased demands. This means there[…]
Employers may provide many benefits to employees in addition to their salary or wages. Some of these benefits can be tax-effective, in that the employer or employee (or both) may save tax by providing a benefit rather than cash. Normally if an employer provides an asset to an employee for their personal use, the employee[…]