The Apprenticeship Levy was announced at Summer Budget 2015, and at Autumn Statement 2015 it was announced that it would come into effect from 6 April 2017.
STEVE MITCHELL of AAB answers some of your questions about management accounts and how they can assist in making your company more efficient and potentially more profitable.
In good times, cash is king for businesses looking to invest for growth.
As a result of the banking crisis a few years ago, many profitable businesses reduced their debt and built up cash reserves. Roll forward to today - those cash reserves may have taken a severe dent due to the dramatic fall in the oil price and the knock on effect this has had for many.
As recently as the March 2016 budget there was a real groundswell of opinion that the opportunity to make pension contributions via salary exchange (also known as salary sacrifice) was going to be under attack and removed. One quick check on Google will show that it has been almost an annual discussion point in the financial press – ‘the demise of salary exchange in the next budget’.
There has been much talk over the last year about the government’s contempt for salary sacrifice schemes and the actual cost to the Exchequer, and on 10th August 2016 HMRC launched its consultation on salary sacrifice, giving the clearest indication yet of its intentions going forward.
It may have taken some time but finally we have confirmation of the planned changes to auto enrolment contribution rate increases. The 2015 Autumn Statement provided a proposal to push back the original contribution increase dates to help businesses administer changes and align them with the tax years.