Monthly Archives: novembre 2023

Autumn Budget Statement

The Chancellor gave his Autumn Statement on Wednesday and you can find a summary of the major points below.

From a personal point of view, I think the Chancellor has evoked the usual Shakespearean theme of “Much Ado About Nothing”.

Our staff will be very pleased to receive a 2% tax cut through the form of the National Insurance reduction but for most people that will only go so far as to offset their increased fuel bills from January.

From a small business owner’s point of view, there has been absolutely nothing done to alleviate the extremely high tax rates that owners of successful small to medium sized companies now face, and yet the Chancellor says he wishes to encourage growth!

If you have any queries relating to the new provisions, and the impact they may have on you, although in my view these will be minimal, please do not hesitate to contact us here at the Martlet Partnership.

Changes to Holiday Pay and Other Payroll Administration Matters

We are pleased to advise that the Government has announced changes to Holiday Pay, Working Time Regulations and TUPE (Transfer of Undertakings Protection of Employment) Rights.

For once, the changes can be regarded as beneficial for small and medium size businesses.

The calculation of Holiday Pay for part-year workers and those who have irregular hours can be calculated at 12.07% of hours worked each pay period and paying this each pay period (… Holiday Pay) will be allowed, simplifying the process.

Holiday Pay must be based on their normal pay and should include commission, overtime, on-call and other regular payments.

The changes to Working Time Regulations reduce the onerous detail of keeping records of all employees’ hours of work.

The simplification of TUPE Regulation will allow employers undertaking some small transfers to consult directly with staff involved.

As regulations relating to payroll have been getting ever more complicated over the past few years, these developments are to be welcome.

There is no need to make any changes yet but these draft regulations are expected to come into effect on 1^st January 2024 and Holiday Pay provisions will apply to holiday years commencing on or after 1 April 2024.

Business Confidence Survey – Your expectations for the next 12 months

We are conducting a short survey to understand how businesses are coping in the current climate, including their outlook for the future.

We conduct this business confidence survey from time to time to understand confidence levels and the views of businesses on their outlook. The findings provide us with insights to develop appropriate support for businesses and individuals.

We share these insights with the government and other industry bodies to ensure the right conversations are taking place and measures being developed to support business in the longer-term.

 
We are conducting this survey in collaboration with other members firms of the UK200Group, the UK’s leading professional organisation of chartered accountants and law firms., of which we are a member.

This means we will capture feedback from businesses from right across the UK which we can use to help develop and shape support to help businesses like yours.

The survey will only take 1-2 minutes of your time to participate. It contains just 4 short questions.

Please take a moment to participate:

https://survey.zohopublic.eu/zs/YYDHjl