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CHALLENGES FACED BY WOMEN IN THE WORKPLACE

In the centenary of women winning the right to vote, stubbornly persistent gender inequality in the workplace is in sharp focus. New reporting requirements which force companies with more than 250 employees to publish their gender pay gap are now providing some hard, granular evidence to show the extent of the problem. Helen Colechin from The HR Dept looks at the issue of gender inequality in the workplace and discusses why SME businesses would be wise to eradicate their own gender pay gaps.
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CHARITIES GIFT AID SMALL DONATIONS SCHEME

Are you aware of the Gift Aid Small Donations Scheme (GASDC)? Under this scheme a charity or community amateur sports club (CASC) can claim top-up payments on small donations up to £20.
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CASH AND DIGITAL PAYMENTS IN THE NEW ECONOMY

One of the announcements in the Spring Statement was the possible demise of the 1p and 2p coins and the £50 note, but for different reasons. It seems that more and more of us are paying for small transactions such as our morning coffee by using contactless payments.
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Mobile Device Management

Bring your own device (BYOD) policies have become increasingly popular in the last number of years. However, this has meant that small and medium sized businesses have faced new challenges in terms of how to manage company data held on the personal devices of employees.
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ARE YOU AWARE OF THE AUTO-ENROLMENT CHANGES?

The minimum contribution rates for automatic enrolment are increasing - on the 6th April 1018 employers are required to increase the total contributions into their employees pensions from 2% to 5%. These increases are set by law and will increase again on 6th April 2019 to a minimum amount of 8%
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TAX DIARY

1/04 Corporation tax payment for year to 30/6/17 (unless quarterly instalments apply)
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PENSION FUNDS CAN BE VERY EFFECTIVE IN ESTATE PLANNING

We have featured the tax efficiency of pension fund investment in a number of recent newsletters. As well as the increased flexibility in terms of drawdown arrangements that were introduced in April 2015 there were some important changes to what happens to the undrawn funds on death. These changes mean that your pension fund can be passed to survivors tax efficiently.
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ARE YOU SURE YOU OR YOUR WORKERS ARE SELF-EMPLOYED?

Last year we reported that the House of Commons Work and Pensions Committee published a report calling on the Government to close the loopholes that allow "bogus" self-employment practices, which burden the welfare state but reduce the tax contributions needed to sustain it.
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TAX DIARY

19/02 PAYE & NIC deductions, and CIS return and tax, for month to 5/02/18 (due 22/02 if you pay electronically)
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DID YOU GET A BIG TAX BILL AND NOW WANT SOME BACK?

Many of you will have just paid your 2016/17 tax bill before the 31 January 2018 deadline, and some of you will also have paid 50% of next year’s tax on account. Here are a couple of tax planning ideas that can help you obtain a tax refund.
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EXCEEDING THE ANNUAL PENSION ALLOWANCE

If your pension savings exceed the annual pension input limit (generally £40,000) then there is an annual allowance charge. The effect of the annual allowance charge is to reduce tax relief on any pension saving over the annual allowance.
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TAX DIARY

31/01 Deadline for Self-Assessment tax return for 2016/17 if filed online. Also the due date for 2016/17 balancing payment and 50% payment on account of 2017/18 tax.
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TAX RELIEF FOR ENERGY SAVING TECHNOLOGY

For a number of years there has been a generous 100% tax break for businesses that install energy saving technology in their premises. This is in addition to the £200,000 annual investment allowance for plant and machinery.
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