New figures this week have shown that the rate of unemployment in the UK is falling, yet pay is still stagnating and failing to keep up with inflation. At the same time, many large businesses have announced job cuts meaning wages continue to be squeezed as companies cut costs.
It is important for every company to know their auto-enrolment duties from 1st October 2017. Firms recruiting staff for the first time after this date will need to enrol them into a workplace pension automatically to be compliant with the new laws.
The old age adage that a business is only as valuable as its employees is an important one to have to remember when it comes to insurance. Protecting people in your business is essential and this guide to the financial protection for the people that make your business success is sure to help you.
A companies workforce is one of the most important investments it will make & choosing the right insurance package is a crucial way of protecting that investment. Changes to your workforce can have dramatic effects on a business’ ability to operate, from removing key expertise to inadvertently damaging important relationships.
A tailored business insurance policy will offer both the wider business and the individual employees financial protection in the face of unforeseen occurrences.
A guide to the important changes to the tax treatment of non-doms in 2017.
For many years individuals who come to the UK but do not settle here permanently have had a number of distinct tax benefits.
These UK resident but non-domiciled (non-dom) individuals have had to pay UK tax on income and gains made in the UK and have had the ability to choose that those made overseas are only taxed brought into the UK.
This is, however, likely to change in April 2017 when the government introduces changes to the non-dom status laws.
These changes could significantly affect an individual’s tax position, so what exactly is changing?
The non-domiciled tax status has been a feature of the UK tax system since 1914 , allowing individuals from abroad to contribute their share before returning home.
Money Management February 2017 reports
young adults are saving more money than other generations, according to Opinium.
Those aged 18 – 34 saved on average £3,701 in 2016, £450 higher than the baby boomer generation (£3,238) and generation X (£3,266).
78% of adults put money into their savings in 2016, while 20% made regular monthly saving deposits.
When asked for the main reasons they save, 14% said it was beneficial to their pension pot, while 18% want to purchase a home.
Taking the decision to start a family is a major turning point in life. Raising a child not only involves a great deal of responsibility but can have huge implications for your financial situation.
In fact, LV estimates that parents will spend an average of £231,843 on a child in the first 21 years of his or her life, up £2,500 from 2015.
Ensuring that you can cover the day-to-day costs is likely to take priority when you first start a family.
However, making sure that you safeguard your child’s financial future is equally important.
Long-term planning is key, and being aware of your financial options will put you in a much better position to help your child save for the future.
There are some different financial products you can use to your child’s advantage. Consider your priorities and your short and long-term goals when deciding on your strategy. Here are some things to consider when planning saving for your child’s future.