Following the end of another tax year we now have the opportunity to look back and to look forward in terms of what we have achieved in the past and what we hope to achieve in the future.
With the new tax year now being upon us it also means some significant changes coming into play that include:
1. GDPR coming ever closer
2. Employment costs rising
3. Further changes with regards to the tax allowances
We’re going to leave GDPR to the experts but will be looking to share some valuable information and links on this in due course and on the tax allowances front, apart from the annual movements in personal allowances then a further reduction in the dividend allowance from £5,000 to £2,000, there isn’t a great deal more to shout about.
Instead we are going to focus this month on employment costs given the time of year and want to summarize this into three key areas that we suggest you explore more:
1. Wages will increase from 6 April due to the usual annual increases around minimum wages, apprentice rate of pay etc. For more information click here.
2. We’re now well into the auto-enrolment period for most and with a new tax year comes new rates of deductions and paperwork needing to be issued. For more detailed guidance click here.
3. Consolidating both of these points; and factoring in GDPR, how compliant would you consider your contracts of employment to be for your staff? With GDPR alone this is worthy of consideration. Avensure are our company HR support and should you wish to discuss this further with them then please contact us.
For the first month we’ll kick this one off and start with the FIRST THREE businesses that want to set up a limited company during the month of May, we will complete the set up process with Companies House, the registration for all taxes together with provision of paperwork for the bank FREE of charge.
AFTER SOME FREE HR ASSISTANCE
We’ve barely scratched the service above with regards to HR but we will shortly be bringing in our own third party HR experts that look after us as a firm to run a free workshop.
Dates are yet to be confirmed but we are looking at around either May or June and we will be restricting numbers to probably 10 so if this is of interest then please get in touch now to reserve your place.
In addition to this event, our payroll clients benefit from free HR support with this same company that we work alongside so if you would like to benefit from this please get in touch.
A FINAL MENTION
Yes he has made it onto another newsletter.
We’re very proud to say that Andy completed the London Marathon last week in exceptionally difficult circumstances and has even declared that he has ‘unfinished business’ meaning that a return to the same event next year is potentially on the cards.
I think it is also fair to say we don’t think any other staff here will be looking to join him.