The advantages and disadvantages of employee turnover
Do you feel like you’re struggling with employee retention in your organisation? Studies from UK Money suggest that the UK has one of the highest employee turnover rates in Europe, and every year, an average of 16.8% of employees leave their jobs in the UK. Moore Kingston Smith People Advisory can help organisations explore some…
READ MOREAcademies Accounts Direction 2023 to 2024 – what’s changed?
The updated Academies Accounts Direction was published on 27 March 2024 and will apply to accounting periods ending on 31 August 2024. Separate model accounts and an external auditors’ guide were also issued, in a similar manner to previous years. The updated guidance includes both explanatory and narrative changes. The requirements include some which will…
READ MORENavigating equal pay and gender pay gap risks and rewards
In today’s evolving business landscape, the pursuit of equality and fairness within the workplace is no longer just a moral imperative, but a legal requirement in the UK. As business owners, finance directors and HR professionals, it’s crucial that you understand the risks associated with unequal pay and the gender pay gap. Fostering a culture…
READ MOREDon’t get caught out – VAT reverse charge for construction
The VAT domestic reverse charge is more or less mandatory for commercial construction work undertaken in the UK. It requires that instead of the contractor charging 20% VAT to their customer, no VAT should be charged on the invoice and the customer has an obligation to self-account of the VAT using a reverse charge mechanism.…
READ MOREHow using total reward statements can improve your employee value proposition
In today’s fast paced and competitive job market, prospective candidates are more aware of their worth and so it is critical for employers to showcase the value of their compensation and benefits package to attract and retain. The best way to communicate the value of an employee’s overall benefits package is by utilising Total Reward…
READ MOREWhat can you do now to prepare for a potential change of government?
Our recent enterprise series webinar focussed on what a change of government could bring. The panel consisted of our tax, financial planning and employment law specialists, who highlighted the potential changes, risks and benefits change could bring. They also provided an insightful economic overview. Here are their top tips from the session: Ensure your business…
READ MOREPayrolling benefits: Your helpful guide and how to register
On 16 January 2024, the British government announced that they intend to mandate the payrolling of benefits-in-kind from April 2026. While the government will further consult on these changes before implementation, this is certainly a significant development. Employers who are not already payrolling benefits will now need to familiarise themselves with the process, explore the…
READ MOREThe non-dom tax regime: changes ahead
In the Spring Budget on 6 March 2024, the Chancellor of the Exchequer announced that the existing UK tax regime that applies to UK tax resident individuals who are non-UK domiciled (“non-doms”) would be abolished from April 2025. What is domicile? Domicile is a common law concept which may impact on an individual’s UK tax…
READ MOREWhat does the future hold for the world of payroll in the UK?
In an era of rapidly evolving technology and shifting workplace dynamics, the landscape of payroll in the UK is poised for transformative changes. As businesses seek to streamline operations, enhance efficiency and adapt to a dynamic regulatory environment, the future of payroll holds a vast array of possibilities. Automation, compliance evolution, remote work considerations and…
READ MOREHow to raise funds for nonprofits and charities
At Moore Kingston Smith Nonprofit Advisory, we often work with nonprofits and charities that are facing changing financial circumstances. This is the first in our series of articles that explore the seven different ways that you can respond in more detail. The first article looks at ideas on how to raise more funds outside of…
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