These days, most of us are comfortable with shopping around to get the best deal, but there are many other ways that profits could be draining out of your business without you necessarily noticing. Here are six areas where making small changes to the way you do things could result in significant cost savings.
Getting organised means making the most effective use of your time. That doesn't mean working harder, but as the cliché goes, working smarter. At our next workshop you will discover the very latest time management techniques and tools to allow you to get the most out of life.
The new compulsory NLW was announced in the 2015 Summer Budget by Chancellor George Osborne. Starting from 1 April 2016, the rate will be set at £7.20 an hour for those employees aged 25 and over. The NLW will give eligible employees a premium of 50 pence an hour on top of the National Minimum Wage (NMW). The new wage is expected to rise to £9 an hour by 2020. This is significantly higher than the NMW rate of £6.70 an hour, which currently applies to employees aged 21 and over.
The Annual Investment Allowance (AIA) is due to fall from £500,000 to £200,000 with effect from 1 January 2016. Transitional rules will have an impact on the amount businesses can claim, so it is important to plan ahead if you want to receive the maximum tax benefit.
If your business captures or handles information about people, then you need to make sure you comply with the strict rules governing data protection. Here are some pointers for staying on the right side of the law...