Employee benefits and rewarding staff

A guide to rewarding your staff and the tax treatment of employee benefits. Many of us do not really think about the commitment that employees make to their employers in terms of time. The average 9 – 5 worker with their 5.6 weeks of statutory holiday is likely to work around 1,880 hours a year. […]

National insurance planning

An overview of the types of national insurance and advice on how to make sure you don’t pay too much. Since its introduction in 1911, national insurance (NI) has changed from a form of protection against ill-health and unemployment to include a wider range of benefits. Today it helps people build entitlement to the state […]

Personal financial planning

No one should be without a financial plan. Read our guide to get started. Achieving your financial goals is made harder when you don’t have a plan laid out on paper. Without a timescale, a sense of priority and an idea of how you will use your money in the future, how can you be […]

Will My Art Live On? How to create your legacy

What will happen to my art after my death? How can I ensure my family benefit from my lifelong work? Will my art retain its value? Who will manage my collection? These and others are the sort of questions that we are being asked increasingly by our many artist clients. Of course, there are many […]

Gifts and inheritance tax

How gifts can reduce your liability for inheritance tax. Inheritance tax (IHT) at 40% is due on the portion of a person’s estate that exceeds £325,000. This can be reduced to 36% if 10% (or more) of the estate is given to charity. Married couples and civil partners can transfer any unused allowance to their […]

Childcare vouchers and the new tax free childcare

Childcare vouchers were introduced some time ago to help working parents pay for childcare. So what are childcare vouchers? Childcare vouchers are tax free employee benefits that usually work through ‘salary sacrifice’ by exchanging part of gross salary to pay for registered childcare before Tax and NIC are deducted, hence, swapping taxable pay for a […]

How an audit can benefit your business

An audit is an official inspection of a company or organisation’s accounts by an independent body. A company can choose to be audited in order to prove to its investors or shareholders that its accounts are sound. An external audit should also determine whether all financial reporting is in accordance with current accounting standards and […]

How to be more successful in business

What do we mean by “successful”? – you may have your own ideas but most people would agree on at least three things they want: More profit More fun (and less hassle) More life (less time at work!) Below are a few ideas to help you achieve these: Identify and systematically measure everything that matters […]

Is your business eligible for R&D Funding or Tax Relief?

Many UK businesses are undertaking activities that they don’t even realise fall into the category of research and development. There are a significant number of funds aimed at supporting forthcoming projects as well as tax relief on work or projects that may have already been done or are currently underway. Westbury have partnered with T4C […]