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4 Ways Pop Up Stands Help Your Business at Trade Shows

4 Ways Pop Up Stands Help Your Business at Trade Shows

If you are considering expanding your presence in the market and making your brand more visible it is likely that you will have considered attending a trade show. Trade shows and exhibitions are ideal for putting your company out there, increasing sales and leads, and […]

The Most Interesting Areas Of The Legal Profession

The Most Interesting Areas Of The Legal Profession

Are you looking to start a career in law? Does the idea of making sure clients get justice seem appealing? Then you’ll need to think about which practice area is most suitable for your talents. Today, we’re going to highlight some of the most popular […]

Pension Funds and Taxes

Pension Funds and Taxes

As of April, 2015, the rules have changed regarding U.K. pensions. Now, pensioners may withdraw their money at will, as if their pension scheme were a traditional savings account, either all in one large amount or regularly, in small portions. However, there are some concerns about possible tax liabilities that pensioners and employers alike need to be aware of. Under the new rules, 25% of any withdrawals are tax-free, and the remainder is taxed at your regular income tax rates. Which means of accessing your your retirement benefits depends on several factors, including:
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– The number of income sources you have to draw from, including cash reserves, properties and pension pots from multiple funds.
 
– Whether you withdraw your pension in bulk or in regular payments
 
– Your overall tax rate
 
What Are the Tax Limits for Pension Schemes?
 
Pension allowances are currently £40,600 during each fiscal year, and £1.25 million over your lifetime; any unused allowances from the previous three years can be rolled over to top-up your pension fund to the current limit during the first tax year that you begin withdrawing from your pension pot. The limit on contributions is £10,600 per fund, and you must notify any other pension schemes you’re enrolled in if any of your contributions drops below that amount. That’s because your total liability and exemptions are interdependent from scheme to scheme; if you go over the £10,600 allowance on one scheme, your overall tax-free allowance drops to £30,600. 
 
There are three basic types of pension funds, and a different proportion of your contributions counts toward your annual allowance in each. Defined contribution pension schemes, which are the most common employer-provided funds, count the total amount of contributions from all sources toward your annual limit. Defined benefit contribution schemes count only any increases you have coming to you after you’ve reached retirement. The last type is a hybrid scheme, which will count the higher of the two amounts from between total contributions or pension increases, and apply that figure to your annual allowance. 
 
Maximizing Your Advantage
 
For pensioners who have little to no tax liability on additional income sources, the best strategy is to withdraw small amounts on a regular basis to cover expenses. This will distribute your tax liability over several fiscal years, as opposed to paying a much higher relative rate on a bulk withdrawal. For example, if your total pension pot is £200,000, you’ll pay tax at y9our regular rate on £150,000 by withdrawing the amount as a lump sum; that same amount will go further, with less tax paid up front, by taking £20,000 annually, paying tax on only 75% of that amount, or £15,000. That will put you in a lower income bracket and lessen the tax burden overall.
 
Pension fund directors like Fahad Al Rajaan oversee investments for workers and retirees, and help ensure that all transactions are smooth and efficient. They work in conjunction with everyone from insurance companies to public and private sector employees, and any other organizations that are responsible for taking care of group employee retirement benefits. This line of work is more essential than ever as more companies move away from government-funded pensions to private investment options in order to finance retirement pension schemes.
Is your job affecting your sleep?

Is your job affecting your sleep?

If you’re suffering sleepless nights, you can rest assured you’re not alone. It’s estimated that a third of people in the UK experience episodes of insomnia. To boost your chances of nodding off at night, you might benefit from making improvements to your sleeping environment. […]

For Shy Guys and Gals: 6 Business Networking Event Tips for Wallflowers

For Shy Guys and Gals: 6 Business Networking Event Tips for Wallflowers

Is it difficult for you to approach someone you don’t know to talk about your product? Are you uncomfortable with the thought of being rejected? Do you get nervous at large business networking events? Here are some tips to ease you into it so that […]

How to Manage your Business while on the Move

How to Manage your Business while on the Move

There is always a certain amount of trepidation when small business owners look to embrace new technology. This is mainly thanks to an understandable fear of the unknown, as many independent ventures lack the necessary resources to recover from application mistakes or a misuse of capital. Such fear was evident in a recent study concerning Cloud-based IaaS servers, with an estimated 82% of businesses claiming that they are not ready to make the switch from traditional hosting plans.

How to Manage your Business while on the Move

One thing that is for sure, however, is that the vast majority of business owners are now comfortable with the idea of managing their ventures while on the move. This is a crucial consideration for modern ventures, especially those that operate in competitive, real-time markets. With this in mind, let’s consider the following steps towards achieving this successfully: –

  1. Optimise your Business for Mobile Platforms

Before you look to ensure that your business is manageable on the move, you will need to optimise your firms’ online presence for the benefit of consumers. After all, there is little point in being equipped to operate your business remotely if you do not have any demand from mobile consumers. It is therefore crucial that you create a culture of mobile awareness in your business, and ensure that your website is optimised for m-commerce visitors directed from platforms such as Android or iOS 8. Without this, your website may struggle to maintain viable page loading times and lose customers to more proactive rivals.

  1. Equip your Employees with Commercial Mobiles

The next step is to empower your staff to work effectively while on the move, but they cannot be expected to do this without being given company branded smartphones or handheld devices. This means that they connect with workplace servers and data remotely at any time, without being forced to use their own personal mobile account. The result of this should be higher levels of productivity and connectivity throughout the firm, as employees can work along a more convenient and engaging schedule that suits their needs.

  1. Implement Purposeful and Relevant Mobile Applications

Mobile applications also offer business owners and employees an excellent platform from which to operate while on the move. The key is to identify viable apps that are relevant to your business and industry, prioritising those that enhance productivity and drive greater levels of efficiency. If you work in the salon industry, for example, you have the option of downloading Phorest branded appointment management applications that are compatible with iPhone and iPad usage. This can be shared throughout the business, and help employees to work in a more efficient manner.

Tricks to Hosting an Outdoor Business Event

Tricks to Hosting an Outdoor Business Event

Organising an outdoor event takes more planning than one might initially expect. It may well be almost winter, but event marketing teams plan months in advance, which means many of them will start planning their strategy for outdoor events in late spring and summer. Having […]

Launching your Business Start-up

Launching your Business Start-up

At present, the UK economy appears to be distinguished by a series of contradictions and inconsistencies. While consumer spending and confidence continues to suffer from rising inflation, for example, the level of sentiment among British business-owners has risen to a four-year high with more than […]

B2B vs B2C: Which is Harder?

B2B vs B2C: Which is Harder?

If you’re an aspiring entrepreneur, then one of the things you’ve probably given some thought to is whether you want to deal with other businesses (B2B), or the end consumer of a product or service (B2C). In truth, neither is clearly better than the other, and things change on a case by case basis. We can however look at a few points which will give you an idea of the different working styles, and which might be better for you.

B2B

Being a B2B company is all about delivery. The key thing to remember is that when you’re providing another business with something, they’re relying on it as part of their strategy. The other business will have deadlines and expectations to meet, and your own delivery will impact upon that. This does naturally mean that there can be added expectations and pressures on you. If you’re simply delivering something to a single end customer, mistakes aren’t likely to cost you much. In the world of business however, depending on contracts and more, errors and delays can land you in court or even worse. Every transaction you make is likely to count, and this becomes even more critical the fewer you’re making, and the higher their value. As an example, when it comes to deliver something, you’re going to want to choose a provider that offers guaranteed delivery like TNT, rather than a budget and less reliable courier.

B2C

On the flip side of course, dealing with other businesses means dealing with fewer customers. Even if you’re a supplier, and you deal with many different companies, you won’t have as many customers as you would if you were a B2C company. Whether online or bricks and mortar, you’ll have to be giving good service constantly to members of the general public. This is good for those who like a constant stream of orders coming in, where deadlines and delivery expectations aren’t quite as high.

In short, it all comes down to the fact that B2C means a higher volume of transactions with a lower average transaction value, where B2B means the reverse. As to which style of business you prefer, only you can decide. It’s worth knowing what you’re getting into in advance first though, because there are differences from the outset. Marketing for instance, which is essential in the setting up of your company, is quite different.

Is Air Conditioning Really a Worthwhile Investment?

Is Air Conditioning Really a Worthwhile Investment?

Consumer spending is continuing to fall in the UK, as the national annual wage continues to stagnate alongside the rising cost of living. This is a major concern for business owners in Britain, who must now face the realities of a declining domestic and global […]