Umar Memon
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Limited liability partnerships
Limited liability partnerships (LLPs) were introduced in 2001 to provide the flexibility of a partnership with the limited liability of its members. They have proved very popular, particularly for professional entities. A LLP must be distinguished from an ordinary partnership… Read more Limited liability partnerships
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One in four not ready to retire
One in four people planning to retire this year don’t feel ready to stop working, Prudential has found. The Class of 2014 study tracked the aspirations of people who plan to retire and found a changing attitude towards retirement: 13… Read more One in four not ready to retire
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Online sales growth continues
Online retailers have reported their strongest January sales of non-food products since 2009, according to the British Retail Consortium (BRC). Online sales of non-food products increased by 19.2 per cent in January 2014, compared with January 2013. The BRC research… Read more Online sales growth continues
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Business groups call for prompt payment reform
Business groups have called for reform of the Prompt Payment Code (PPC) after data showed that more than half of Federation of Small Businesses (FSB) members were not paid by the agreed date. The PPC is a Government-backed scheme to… Read more Business groups call for prompt payment reform
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Skills shortage may curb growth
A growing shortage of skills “may constrain economic growth”, research from the UK Commission for Employment and Skills (UKCES) has suggested. The UKCES 2013 Employer Skills Survey (ESS) found that skills-shortage vacancies increased from 91,400 in 2011 to 146,000 in… Read more Skills shortage may curb growth
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Rules for simpler energy tariffs introduced
The energy regulator, Ofgem, has banned energy companies from using confusing and complex tariffs. The new rules came into effect on 2 January 2014 and should make it easier for consumers to compare suppliers and choose the best deal. A… Read more Rules for simpler energy tariffs introduced
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Employment Allowance to provide £5.5bn boost
In the run up to the introduction of the Employment Allowance – which will reduce every employer’s national insurance bill by £2,000 – HMRC has released new figures about how much the scheme could save UK businesses and charities. The… Read more Employment Allowance to provide £5.5bn boost
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Annuities switch for pensioners proposed
Pensioners should be allowed to switch to better annuities and escape poor-value schemes, Pensions Minister Steve Webb has suggested. In an interview with the Sunday Telegraph, Mr Webb said that pensioners should be able to change annuities in the same… Read more Annuities switch for pensioners proposed
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Businesses upbeat for 2014
After a positive end to 2013, research has revealed that UK businesses are optimistic at the start of 2014. However, despite this increased confidence, business leaders remain realistic about the challenges ahead. Almost nine out of 10 members of the… Read more Businesses upbeat for 2014
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2014 PAYE update
Real time information Almost all employers should now be using real time information (RTI). This generally requires payroll information to be provided to HMRC ‘on or before’ payment to the employee. In most cases, the payroll software does this automatically.… Read more 2014 PAYE update