Pension salary sacrifice & new minimum wage rates
The National Minimum and National Living Wage (collectively referred to as “NMW”) rates are increasing from 1 April 2022.
Privately Owned Business newsletter - Dec 2021
Until mid-November the view seemed to be developing that whilst Covid-19 would continue to be an endemic problem, vaccination programs were moving it into the ‘manageable’ box.
Business was preoccupied with skills shortages, and damaged or broken supply chains, which, in the UK at least, were the combined effect of Covid-19 and Brexit. The emergence of the Omicron variant in mid-November, and the introduction of the governments ‘Plan B’ seems likely to intensify skills shortages, supply chain difficulties and cost inflation, whilst depressing demand and at the same time bringing forward interest rate increases. Ministers are presently ruling out any further business support measures. A challenging situation just got more challenging.
However, times of challenge and disruption are also times of opportunity and innovation. We have already seen during the last couple of years new ways of doing business being developed in response to the pandemic. It is the privately owned business sector that can be more agile and flexible in its response to change, able to innovate at a greater speed than larger competitors can manage. We hope that the articles in the Newsletter will provide some thought starters to help your business stay resilient and adapt successfully to change.
However, business resilience in the privately-owned sector, in the end, depends on the resilience and perseverance of individuals. So more than anything, as Christmas and the New Year approaches, we hope that you and your teams will have an opportunity to step out of the daily preoccupation with your business, and will have a wonderful time of relaxation and enjoyment with those you love most, so as to start 2022 with a renewed and optimistic spirit.
Have you considered EOTs for your business exit?
13/12/2021. The last 20 months have been tough. Whilst many people and businesses have been very resilient and adapted to “the new normal” well, there is an undercurrent of change in the air currently.
Tax supercharged investment strategies
13/12/2021. In the article ‘What can you do about skills shortages?’, we looked at different ways in which smaller businesses could try to access, and retain, the skills they need in what is an increasingly competitive environment for labour.
What can you do about skills shortages?
13/12/2021. Whilst the recent focus has been on skills shortages such as HGV drivers, the hospitality industry, and seasonal agricultural workers, skills shortages are currently one of the most acute issues facing much of the UK business.
What is the outlook on UK interest rates?
13/12/2021. In early October, the Bank of England surprised markets by suggesting it would pursue quick rate hikes to combat rising inflation. Investors began pricing in higher interest rates for the end of 2021 and the beginning of 2022.
Embracing a sustainable mindset
09/12/2021. Some companies still see sustainability policies as a threat to their business. Far from it. In the new economy businesses will soon realise that integrating sustainability into their business strategy will help them take advantage of opportunities, better manage risk, and increase their appeal for inward investment. At the same time, they’ll be helping improve the environment and create...