Many businesses are totally reliant on the data stored on their PCs, laptops, networks, mobile devices and in the cloud. Some of this data is likely to contain either personal information and/or confidential company information. Here we look at some of the key compliance issues surrounding data protection and the Data Protection Act 1998 (the Act). The Data Protection Act will be superseded by the General Data Protection Regulation (GDPR) in May 2018.
Continue readingThe position of director brings both rewards and responsibilities upon an individual. Whether you are appointed to the Board of the company you work for or you are involved in establishing a new business and take on the role of director you will feel a sense of achievement. However the office of director should not be accepted lightly. It carries with it a number of duties and responsibilities. We summarise these complex provisions below.
Continue readingThe General Data Protection Regulation (GDPR) replaced the Data Protection Act and applies from 25 May 2018. Whilst there are similarities between the Data Protection Act and the GDPR, there are some new elements and significant enhancements. The GDPR requires all organisations that deal with individuals living in an EU member state to protect the personal information belonging to those individuals and to have verified proof of such protection. Failure to comply with the regulation will result in significant fines.
Continue readingGoing freelance is certainly one of the best ways to reclaim your life and get the lifestyle you have always wished for, but if you want to make the most of it, you will need some tools to help you out. In this article, we look at some of the best accounting and management tools that we recommend and list our top 10.
Continue readingThe new, so-called sugar tax has been a contentious issue since it was first raised. Some, including many doctors and celebrity chef Jamie Oliver, have been in support with calls for a tax against sugary drinks since 2014. Others have been hoping PM Theresa May would reverse her position before the due date, since it was first announced. April 6, 2018, has come and gone however, so the tax is now officially in effect.
Continue readingFollowing the previous year’s Leave victory, the UK Government officially started the Brexit process on March 29, 2017. With intentions to formally leave the EU within two years, businesses and traders must prepare for the inevitable tax law changes. They will additionally need to accept the Brexit accounting implications it will have on company accounts.
Continue readingIn December 2015, the government revealed a plan for new legislation that would abolish the Class 2 national insurance contributions. They also announced that further NIC changes would be proposed in 2018. Originally, the change was expected to be implemented in 2018. However it has been announced that it will now come into effect one year later, in 2019.
Continue readingWhen you take on a new member of staff, there are an initial six tasks you need to carry out to ensure you comply with the law.
Continue readingNew research has highlighted the significant contribution that Britain’s fastest growing smaller companies are making to the UK economy.
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