Stamp Duty Land Tax Changes from April 2016!

Consultation on 3% SDLT Supplement on Second Homes from April 2016!

You should be knowing that you must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland. The current SDLT threshold is £125,000 for residential properties and £150,000 for non-residential land and properties.

HMRC are consulting on the details of the higher rates of stamp duty land tax (SDLT) on purchases of additional residential properties announced in the 2015 Autumn Statement.

The Government will include detailed rules in the Budget on 16 March 2016.
The higher rates will not apply if at the end of the day of the transaction an individual owns only one residential property, irrespective of the intended use of the property.

In line with the CGT rules there will be an 18 month period between sale of a previous main residence and purchase of a new main residence for the purpose of determining whether the higher rates apply.

To know more about Stamp Duty Land Tax, Exemptions and more, go to www.gov.uk

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Single Director Companies Excluded From £3,000 Nic Employment Allowance!

From 6 April 2016 the Employment Allowance increases from £2,000 to £3,000, but if you’re the only employee in a company, and also the director, your company will no longer be eligible for the NICs Employment Allowance.

HMRC is currently consulting on the draft legislation for this change which will mean that the £3,000 allowance will not be available to offset against the employers’ NIC liability of such companies. 

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How to Write a Perfect Press Release?

A well-written press release should be short, to the point and contain all the essential information in the first paragraph.  Most importantly, it should be a complete story that could be published without too many changes, as all the facts are there and the content is well structured.

Here are a few tips to help you to put together a good press release.

Put in the most newsworthy information

Who, what, when, where should be at the top, with the least important information at the bottom - this is called the inverted pyramid model and it is how journalists are trained to write.

Facts and photos

Boost your story with relevant data and good photos (ideally taken by a professional photographer, not taken on a smartphone). Include one photo and say “more available” rather than clogging up journalists’ inboxes with big files.

Call a spade a spade

A journalists’ job is to untangle professional jargon before it reaches the press. You can make their life a bit easier by avoiding technical terms and writing in plain English.

Quotes

Quotes are important but they need to add something to the story without repeating information contained elsewhere. Try to avoid being “thrilled” “honoured” or “excited”.

Don’t attach your story, put it in the body of the email

Don’t send one line emails saying “See Attachment”. It may not be opened. Always paste the press release directly into an email so it can be easily read on a smartphone or tablet.

Give it a good headline

Your headline should tell the story even if a person doesn’t actually read the rest of the article. If you want ideas on how to write a good headline, just pick up a newspaper and have a read. Which headlines catch your eye and why? Now try to write a similar headline for your press release.

Are you ready to write your business Press Release yourself? Let us know your experience and the response. Also share with us if you have any more points to add.

Strategy Versus Tactics - What to implement for your business?

Do you know the difference between strategy and tactics? Many senior managers who think they are talking about strategy are really focusing on tactics.   Indeed, many small and medium sized businesses aren’t very good at creating and executing a business plan at all. As a result, a lot of business owners and managers operate at a tactical rather than a strategic level; responding reactively versus proactively.  So, what is the difference? A simple explanation would be to say that strategy refers to the "what and the why" and tactical refers to the "how". Strategic thinking, planning and actions require the ability to look at the "big picture", recognise patterns and trends, establish priorities, anticipate issues, predict outcomes, and have strategic alternatives to engage as necessary. Strategic plans involve the vision, the mission, the guiding principles and the goals for the business. Tactical is the more hands-on or the "doing it" part of getting the job done, to ensure the strategic goals are met. The tactics are the detailed actions needed to meet the goals or solve a problem. An example would be, Strategy: Be the leader in terms of sales and percentage market share in the mid-market in our industry sector in the UK. Tactics: Offer lower cost solutions than our competitors, win 5 new contracts worth at least £100,000 each and expand our business by buying out two competitors over the next 12 months. When it comes to managing any business, having a good strategic plan and utilising good tactics are both very important. A business owner or a management team leader must know and use strategy and they must also have an awareness of their business's tactics. It is important to note that this does not mean that management should perform these tasks on a regular basis. The whole team has a responsibility to undertake the right tactics in order to deliver the company strategy. If the management team are truly aware of what "good tactics" are and are able to recognise them, they will become "tactically credible" in the eyes of their team mates.

It is critical for the owners and managers to  have this credibility in order to demonstrate to their team members how the tactical work helps the overall business to achieve its strategic goals and objectives.

4 Strategies to Embrace Diversity in Your Business Place!

Diversity is an economic and legal priority in business. It increases the bottom line, encourages innovation and steers businesses away from legal issues. Business owners, managers and employees need to find ways to embrace and respect diversity. Diversity, in business, makes it more sustainable & successful.

Take a moment to write down what your biases are and how you can avoid these affecting the way you conduct yourself when you are at work. Here are 4 strategies to start with:

1. Language

Avoid language that demeans a particular group of individuals. Avoid being patronising and jokes that have religious or cultural inferences.

2. Invite input from people with different backgrounds

Not only does this show respect, it makes good business sense to have a diverse opinion.  Inviting people from many backgrounds and cultures will increase the pace and creativity involved with innovation.

3. Respect religious holidays

Most businesses respect Christian holidays. However, all important religious holidays should be respected for employees of that particular religion.

4. Recruitment

When hiring or promoting individuals do so on the basis of facts only. Skills, abilities, knowledge and results should be the only factors involved in your decisions.

Though there are a lot more, these help you start with implementing diversity at your work place. Embrace diversity in your firm and you are on the way to a more fulfilling and productive business.

The world is a mosaic of cultural differences and the workplace should be as well. Respecting your colleagues and employees is paramount to tapping the valuable diversity in your business.

What are your thoughts?

Contact us for further advice to have a diverse company culture!
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