Managing Absence

Recent surveys indicate that the adverse impact of absence on business profitability today is significant, with thousands of man hours lost every day. Recent statistics show that an average of 6.6 days are lost each year per employee with a median cost of £609 per employee. Approximately two-thirds of working time lost to absence is accounted for by short-term absences of up to seven days.

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Micro Entity Accounting

In recent years many companies have been preparing and filing ‘small company accounts’ under a Financial Reporting Standard for Small Entities (FRSSE). However, for financial years beginning on or after 1 January 2016, FRSSE has been withdrawn and small companies, which qualify as ‘micro-entities’, have a new choice: to use the same accounting standard – FRS 102 – as larger UK companies but using a reduced disclosure regime (section 1A) within the standard, or to apply an alternative standard – FRS 105.

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Money Laundering and the Proceeds of Crime

There are tough rules to crack down on money laundering and the proceeds of crime. These rules affect a wide range of people and we consider how your organisation may be affected. Most of us imagine money launderers to be criminals involved in drug trafficking or terrorism or to be someone like Al Capone. However, legislation in the last two decades has expanded significantly the definition of what we might have traditionally considered as money laundering.

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Money Laundering – High Value Dealers

The Money Laundering Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Regulations) apply to a number of different businesses which include (amongst others) accountants and auditors, tax advisers and dealers in high value goods. The Regulations contain detailed procedural anti-money laundering requirements for those affected.

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National Insurance

National insurance contributions (NICs) are essentially a tax on earned income. The NICs regime divides income into different classes: Class 1 contributions are payable on earnings from employment, while the profits of the self-employed are liable to Class 2 and 4 contributions. National insurance is often overlooked yet it is the largest source of government revenue after income tax.

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