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Earning Trust As A Manager

In order to manage an effective team of people, you need to win their trust. If employees don’t have trust in their company and their managers, they can become disengaged. This can lead to high rates of staff turnover and those who stay are likely to be de-motivated. Transparency Honesty is the best policy. Communicate […]

Read more August 27th, 2019

Make Time For Your Own Personal Development

As a leader in your business, you are focused on developing the people around you. But who is responsible for your own development? If you want to help your employees to grow and develop, you need to invest time in developing yourself, as a leader. In order to focus on your own personal development, you […]

Read more August 22nd, 2019

What To Do When A Key Team Member Leaves

People move jobs more frequently these days. Here’s what to do when a key team member decides to move on. As talented employees grow and develop in their careers, it is inevitable that some will decide to branch out and move to another company. Be supportive Congratulate them on their new opportunity. Thank them for […]

Read more August 20th, 2019

Inheritance Tax To Be Simplified

The Office of Tax Simplification (OTS) have undertaken a detailed review of Inheritance Tax (IHT), which is perceived by many as a complicated tax. The government normally takes account of OTS recommendations and their report is likely to lead to future changes to the rules. We will keep you posted as the changes may mean […]

Read more August 12th, 2019

Inheritance Tax Relief For Businesses And Farms

There is currently a very generous 100% relief from inheritance tax for passing on businesses and farmland during lifetime and on death. The rationale for Business Property Relief (BPR) and Agricultural Property Relief (APR) is to enable businesses to be passed on without the need to sell off assets to pay the IHT due on […]

Read more August 12th, 2019

Company VAT Penalty Can Be A Liability Of An “Officer”

A recent case before the tax tribunal saw the liability for a late VAT registration penalty being passed on to a manager of the company. HMRC have the power to impose such a penalty on an individual where: There is a penalty payable by the company for a deliberate failure The individual on whom HMRC […]

Read more August 12th, 2019

CGT Property Relief Changes

CGT Private Residence Relief Draft legislation to be included in the next Finance Bill will make important changes to the calculation of Capital Gains Tax (CGT) private residence relief. As announced in the Autumn 2018 Budget, there will be a reduction in the final period exemption to 9 months, with stricter conditions for letting relief […]

Read more August 9th, 2019

Off-Payroll Working Rules (IR35) Going Ahead

The draft Finance Bill clauses issued for consultation on 11 July include legislation to extend the “off-payroll” working rules to the private sector from 6 April 2020. These changes will have significant implications for workers providing their services through personal service companies and also the end-user organisations that engage such workers. End users will be […]

Read more August 8th, 2019

Shapcotts Accountants’ 35th Business Anniversary

Today, Shapcotts Accountants are proud to celebrate 35 years in business. We have been advising and supporting businesses, both locally and nationally, since 30 July 1984. It was founded by Melvin Shapcott FCA, the day after his daughter was born, working from the kitchen table. Since then Shapcotts Accountants has expanded to 20 employees and […]

Read more July 30th, 2019

Creating An Employer Brand

The businesses that attract the best talent all have one thing in common – a great employer brand. All businesses have an employer brand – it’s what your employees, customers, suppliers, peers and potential employees say about your business. A strong employer brand can help your business to compete for the best talent and can […]

Read more July 30th, 2019

Managing Employees Who Have Their Own Business

A recent study suggests that 25% of employees in the UK are running at least one business project alongside their day job. Having a secondary business or job has become particularly popular among millennials, who tend to start a side gig as a hobby or in order to explore a new challenge. Millennials tend to […]

Read more July 30th, 2019

Scaling Up Your Business

How do you scale up your business and take it to a new level? A scale-up business is any company that is looking to grow in terms of market access, revenues, and the number of employees, adding value by identifying and realising new opportunities. Scale-up businesses are the engine of growth for the UK economy, […]

Read more July 30th, 2019

Advisory Fuel Rates for Company Cars June 2019

These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2019. Where there has been a change the previous rate is shown in brackets. Note that for hybrid cars you must use the petrol or diesel rate. You can continue to use the previous rates for up to […]

Read more July 15th, 2019

Using a PAYE Settlement Agreement To Pay Some Of Your Employee’s Tax

PAYE settlement agreements (PSAs) are arrangements under which an employer can settle the income tax and National Insurance liabilities on benefits in kind and expenses payments provided to employees and officeholders. Setting up a PSA avoids passing on an unexpected, and potentially demotivating, tax charge to employees. Where a PSA has been agreed with HMRC, […]

Read more July 12th, 2019

New VAT Rules For The Construction Sector

Under new rules due to come in on 1 October 2019 builders, subcontractors and other trades associated with the construction industry will have to start using a new method of accounting for VAT. With these new rules, supplies of standard or reduced-rated building services between VAT-registered businesses in the supply chain will not be invoiced […]

Read more July 10th, 2019