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Brexit and payroll implications

As businesses debate the impact of Brexit, I wonder how many have considered the payroll implications? I have asked myself, will being in or out be better for payroll?

We of course must remember that under Article 50, if the UK votes to leave it could take as long as two years for this to happen, so at least nothing could impact overnight, well on payroll legislation anyway.

When I first heard about this important referendum, aside from being most grateful we live in a democratic country, I started to think about what it might mean for my industry.

Will I get tax relief on repairing my newly acquired let property?

Will I get tax relief on repairing my newly acquired let property?

I’m often asked this question by clients who are looking for a simple “yes” in response. However, that isn’t always the case so “it depends” is usually my initial reply.

Property purchased at a substantially reduced price

Record number of family businesses respond to survey, creating insight into the UK’s most significant sector

Armstrong Watson has conducted a significant survey of family businesses which reveals some surprising insights into the UKs family businesses and some of the key issues they are facing at the moment.

The family business report is one of the biggest surveys in the UK of its kind, with a record number of 323 respondents from all over the country, meaning the results have statistical significance and represent a good insight into the current state of play for family businesses in Britain.

New appointment puts business needs in the picture

Armstrong Watson is delighted to announce the appointment of Business Development Manager, Kelly Crosbie.

Her role is to meet with businesses and gain a detailed understanding of their payroll and employee needs, enabling the firm to provide services which will bring real value to that business.

Kelly said:

I’m delighted to be joining Armstrong Watson and to be part of a fantastic progressive, forward thinking firm.  I’m looking forward to working with the payroll team and developing existing and new relationships in my new role as Business Development Manager.

500,000 UK businesses are issued a stark warning

According to Corporate Features, The Pensions Regulator are due to release their latest automatic enrolment (AE) compliance figures shortly.  Although as at December 2015 more than 78,000 employers had completed their AE staging duties, worryingly in the last quarter of the year they had to issue more than 2,500 statutory notices.  In addition, they issued just over 1,000 fixed penalty notices of £400 and 24 escalating penalties.  Escalating penalties are where there are daily fines, in addition to the fixed penalty of £400.  These can be from £50 per day to £10,000 per day, depending on th

Does your business depend on you? If so, this is a must read for YOU!

Work on your business NOT in it

Many business owners fall into the trap of working in their business rather than on it as the demands of a growing business call for more and more of your time. Michael Gerber (E-Myth revisited) refers to this when he says “if you work in your business then you don’t own a business, you own a job”, it is only when you start to work on your business that you start to own a business.

Expert support for business with two new partners at Armstrong Watson

Armstrong Watson is delighted to announce that as of the beginning of April, two partners have joined the growing partnership, which now has 33 partners. 

Paul Dickson, Managing Partner comments:

‘I am extremely proud to announce that two of our Directors have been admitted in to Partnership at Armstrong Watson.

Register of People with Significant Control (PSC)

With the introduction of the Small Business, Enterprise and Employment Act 2015, companies, limited liability partnerships and Societas Europaea must compile and keep up to date a register of people with significant control.

This register must be established by entities from 6 April 2016 and the information will need to be filed at Companies House from 30 June 2016.

Local Firm makes the shortlist for ‘Best Tax Investigations Team’ in National Awards

Armstrong Watson is delighted to announce that their tax team has been shortlisted for ‘Best Tax Investigations Team’ at the National Taxation Awards.

These national awards recognise the best in the taxation industry, celebrating excellence and promoting the highest standards possible.
After winning the award for ‘Best Tax Practice in a Regional Firm’ last year, the business is hoping to scoop another accolade this year.

Louise Palmer, Taxation Awards commented:

Make your accountant your best friend

How to get the most out of your accountant

If your view of your external accountant has been simply to drop your books off with them once a year, wait for the number crunching to be done, pay your tax and then go your separate ways for another year, then think again. You may be missing out on a potentially good friendship.