Newsletter - Summer 2016
This quarter we look at the longer term and a project of the Office of Tax Simplification reviewing the simplification of small company taxation. This may lead to a new type of business structure being made available to small businesses.
Those who are nearing their State Pension age will need to understand how much they will be getting under the 'flat rate' scheme.
What is the potential impact of the Lifetime ISA? Although it is not scheduled to be introduced until April 2017, eligible individuals need to start considering whether the ISA will be a suitable vehicle for long term savings.
The use of social media in businesses has rocketed over the last few years as it is a great way to communicate with a wide audience. We summarise some advantages of using social media for business development.
Two articles deal with matters which many employers need to consider:
- The National Living Wage is already having a significant impact on many employers and employees. We explain the differences in how the National Living Wage and the National Minimum Wage will be set in future years.
- With pension auto enrolment applying to more and more employers, we look at the options for using a salary sacrifice scheme to deliver tax savings for the employer and the employee.
Finally, charities and some taxpayers should take note of a new Gift Aid form which emphasises the dangers, to some, of signing up to Gift Aid.
Please contact us if you have any questions regarding any of the articles we have included in our newsletter or if you would like further information on a topic we haven't covered. Your views are always important to us and we would welcome your feedback.