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What are the key issues Brexit will cause for businesses

WHAT ARE THE KEY ISSUES BREXIT WILL CAUSE FOR BUSINESSES

Posted on: 15/10/2020

 

Whilst much of 2020 has been swallowed up by Covid, the UK’s transition period post-Brexit is still marching on. Come January 2021, new rules will impact on every aspect of our lives. Every business will be affected in a different way, depending on their sector and size, but here’s a checklist of the key issues that businesses need to know.

Supply chain

A 2020 survey, carried out by Descartes in July, reveals that the biggest concern for businesses is delays to...

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Categories: In the news, Business Support, Top Tips

Corporate Insolvency and Governance Act 2020

CORPORATE INSOLVENCY AND GOVERNANCE ACT 2020

Posted on: 16/07/2020

 

Corporate Insolvency and Governance Act 2020: What This Means for Businesses.
The Government’s recently published Corporate Governance and Insolvency Bill received Royal Assent on 25 June, making it law. It has been introduced to help UK businesses survive the current challenging times as well as protecting jobs and assisting in the UK’s economic recovery.
The Act dictates new aspects relating to insolvency and restructuring, intended to give companies space and time to boost...

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Categories: In the news, Business Support

Managing Mental Health for Your Employees

MANAGING MENTAL HEALTH FOR YOUR EMPLOYEES

Posted on: 16/07/2020

 

The coronavirus pandemic forced employers and employees into a virtually unplanned situation. Almost overnight, staff had to start working from home where possible, making the most of space in their homes and often having to share this with partners also working from home as well as children being home schooled. This enormous shift, coupled with a rapidly unfolding health crisis, highlighted the need for employers to safeguard their teams’ mental health.
Your staff may have suffered ill...

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Categories: In the news, Business Support

What can business do to survive COVID-19

WHAT CAN BUSINESS DO TO SURVIVE COVID-19

Posted on: 16/04/2020

 

Many of us wake up these days and ask ourselves whether the world has been involuntarily entered in a bizarre socio-economic experiment. Every code we live by and every norm we have come to accept are now fair game for an invisible organism that guards its own code and timeline with absolute secrecy.
Society continues, as it must, with universal uncertainty as a new travelling companion and undefined hope as a faraway beacon.
Continue we must, drawing comfort from anything good that remains...

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Categories: In the news, Business Support, Top Tips

Government’s financial response to business

GOVERNMENT’S FINANCIAL RESPONSE TO BUSINESS

Posted on: 16/04/2020

 

Government’s financial response to business
No doubt you have been well-supported by your professional advisors during the global coronavirus crisis and are aware of the many schemes being rolled out to support businesses.

Be sure to have considered all of the following:
The Small Business Grant Scheme providing £10,000 to all businesses who receive Rural Rate Relief or Small Business Rate Relief SSP relief for SMEs Furloughing of your staff The Self-employed...

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Categories: In the news, Business Support

Amendments to Money Laundering Regulations, January 2020

AMENDMENTS TO MONEY LAUNDERING REGULATIONS, JANUARY 2020

Posted on: 10/02/2020

 

On 10 January 2020, the Money Laundering and Terrorist Financing (Amendment) 2019 became law. It updates the UK’s existing anti-money laundering regulations, incorporating the 5th EU Anti-Money Laundering Directive (5AMLD). This is a further step by the EU to tackle ongoing and new money laundering threats. It’s a far reaching piece of legislation but here are the key effects it will have on UK businesses.
 
Wider scope of businesses
5AMLD has increased the types...

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Categories: In the news, Business Support, Business Development

IR35: Are You Ready for the Changes?

IR35: ARE YOU READY FOR THE CHANGES?

Posted on: 10/02/2020

 

The rules surrounding IR35 are changing in April 2020. They signal one of the biggest tax changes in recent times for businesses and third party workers. Are you ready for the changes and how you should be preparing? 
Why is IR35 changing?
Contractors – or off-payroll workers - who work for private sector organisations are currently able to set their own IR35 status, which affects how much tax they need to pay. HMRC were of the belief that the existing IR35 legislation "is...

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Categories: In the news, Business Support

The Rise and Fall of Small Businesses and External Finance

THE RISE AND FALL OF SMALL BUSINESSES AND EXTERNAL FINANCE

Posted on: 26/07/2019

 

Small and medium sized business are still on the rise in the UK. A recent report by the British Business Bank showed some fascinating findings, many encouraging for SMEs and also indicative of the effect they feel Brexit will have. 
How many SMEs are there in the UK? 
5.7 million UK business are now SMEs; more than 99% of all UK businesses  60% of UK sector employees work in an SME  More than 1000 new business were formed every day in 2018; 382,000 in total.  To...

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Categories: In the news, Business Support, Business Development

Are You Making Tax Digital?

ARE YOU MAKING TAX DIGITAL?

Posted on: 13/05/2019

 

HMRC have been talking about Making Tax Digital (MTD) since 2015 and April 2019 saw the first roll out stage. By their reckoning, errors made in the current system of self-assessment and tax returns costs the Exchequer around £9 billion a year in lost revenue. MTD is their solution; digital records and special software to eliminate errors, making it easier for businesses and individuals to be more in control  of their tax and financial affairs. We will all be able to access our own tax...

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Categories: In the news, Business Development, Top Tips

Leukaemia UK

LEUKAEMIA UK

Posted on: 14/11/2018

 

Blood cancer is the 5th most common cancer but the 3rd biggest killer so Leukaemia UK is our chosen charity here at NED Solutions. In fact, one of our Directors is a Trustee for them. The charity has supported those affected by leukaemia, myeloma, lymphoma and other blood cancers for the last 40 years by funding research projects, facilities and equipment as well as offering vitally needed emotional support.
Leukaemia UK has recently undergone radical transformation and rebranding and is now...

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Categories: In the news, Business Support

Creating a Business Continuity Plan

CREATING A BUSINESS CONTINUITY PLAN

Posted on: 13/11/2018

 

When thinking about creating a business continuity plan it’s easy to become bogged down envisaging worst-case scenarios such as fire or terrorism. However, the key is to not think about the cause of the disruption to your business but rather to focus on the potential effect. 
When considering business continuity concentrate on finding a plan that fits your business’ specific requirements. There are several online...

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Categories: In the news, Business Support, Business Development, Top Tips

The Business Basics Fund

THE BUSINESS BASICS FUND

Posted on: 13/11/2018

 

The government has launched a new fund of £8m to support small business growth and to assist them in becoming more digital. 
The Business Basics Fund is run by the Department for Business, Energy and Industrial Strategy (BEIS) in partnership with Innovate UK which will assist businesses, charities, trade organisations and public-sector organisations support small business owners with their digital transformation.
Small Business Minister Andrew Griffiths advised in a speech...

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Categories: In the news, Business Support, Business Development

Employee Ownership

EMPLOYEE OWNERSHIP

Posted on: 23/07/2018

 

Employee-Owned Businesses 
In 2017 an independent panel of UK business leaders and industry experts came together to hear and examine evidence from 100+ employee-owned businesses and business advisers.
Its findings and recommendations were launched in the Ownership Dividend report on June 27 2018.
The most high-profile Employee Ownership (EOs) company is the John Lewis Partnership who supported the Ownership Effect Inquiry. 
The panel of the Ownership Effect Inquiry,...

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Categories: In the news, Business Support, Business Development

Government to crack down on irresponsible company bosses

GOVERNMENT TO CRACK DOWN ON IRRESPONSIBLE COMPANY BOSSES

Posted on: 17/05/2018

 

The government has raised concerns that whilst most businesses are run responsibly, company directors could "unfairly shield themselves from the effects of insolvency and – in the worst cases – profit from business failures while workers and small suppliers lose out".
The reforms planned by the government are designed to reinforce trust in business after some recent high-profile failures, such as BHS and Carillion where thousands of jobs were lost.
"These reforms will give...

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Categories: In the news, Business Support, Business Development

New protection against identity fraud for company directors

NEW PROTECTION AGAINST IDENTITY FRAUD FOR COMPANY DIRECTORS

Posted on: 17/05/2018

 

Companies House holds publicly available information which can include personal addresses of company directors.
Research by Cifas, a fraud prevention organisation, has shown that company directors are among the most targeted groups for identity theft, being twice as likely to be affected by this than any other group of individuals.
Research has shown that criminals are using the publicly available information to commit fraud and other crimes. There is also growing concern that this information...

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Categories: In the news, Business Support, Business Development, Top Tips

THE GENDER PAY GAP

THE GENDER PAY GAP

Posted on: 16/02/2018

 

Is your business ready for the new gender pay gap reporting? UK employers with over 250 employees are now required to report their gender pay gaps by April 2018.
Affected businesses are required to publish the following key areas:
• The difference in mean pay – to show the average hourly earnings of the employer’s female employees and the average hourly earnings of its male employees both taken as a solitary group.
• The difference in median pay - the...

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Categories: In the news, Business Support, Business Development, Top Tips

LASTING POWER OF ATTORNEY

LASTING POWER OF ATTORNEY

Posted on: 16/02/2018

 

If you are a business owner, director, partner or sole trader protecting the future of your business is fundamental to your role. So, what would happen if you were incapacitated by illness or injury? Who would take over the running of the business and its financial affairs, and what would it mean for your employees’ financial future?
A Lasting Power of Attorney can make the difference between a business continuing or collapsing if the owner loses capacity. Without one a colleague...

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Categories: In the news, Business Support, Business Development, Top Tips

VICARIOUS LIABILITY

VICARIOUS LIABILITY

Posted on: 16/02/2018

 

In English law vicarious liability is the law that imposes strict liability on employers for the wrongdoings of their employees, provided those acts are done during their employment.
In 2016 there was a case brought against the supermarket chain, Morrisons, where the Supreme Court deemed them liable for a physical assault carried out by one of their employees on a customer. It was decided that the employee had acted in his assigned role to serve customers. The assault was therefore...

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Categories: In the news, Business Support, Business Development

Flexible return to work after maternity leave

FLEXIBLE RETURN TO WORK AFTER MATERNITY LEAVE

Posted on: 18/10/2017

 

Returning to work full time after maternity leave can be a daunting prospect. It’s likely that employees will need to make their old job fit around new circumstances, which isn’t always possible with ever increasing child care costs.
Employees have the right to return to the same job on the same terms and conditions after maternity leave: however they also have the right to request flexible working, if they have worked for their employer for at least 26 weeks (including maternity...

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Categories: In the news, Business Support, Top Tips

FRC Corporate Governance Rules

FRC CORPORATE GOVERNANCE RULES

Posted on: 18/10/2017

 

The Financial Reporting Council is the UKs independent regulator responsible for regulation and standard setting in corporate governance, accounting, auditing and actuarial matters.
The Financial Reporting Council (FRC) has welcomed the government’s response to its green paper on corporate governance reform. Theresa May pledged to have both consumers and workers represented in the boardroom and she announced a green paper on corporate governance shortly after becoming prime minister.
The...

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Categories: In the news, Business Support, Business Development, Top Tips

Changes to Data Protection Legislation in 2018

CHANGES TO DATA PROTECTION LEGISLATION IN 2018

Posted on: 04/04/2017

 

On the 25th May 2018 a new law called the General Data Protection Regulation (GDPR) will come into effect. The GDPR has been created to update and improve upon data protection laws in the UK. Businesses currently adhering to the Data Protection Act (DPA) may be reassured to know that many of the same concepts and principles will apply when the new law is implemented. However, it is important to stress that for all businesses - no matter their size or industry - some changes for compliance will be...

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Categories: In the news, Business Support, Business Development, Top Tips

Apprenticeship Levy

APPRENTICESHIP LEVY

Posted on: 04/04/2017

 

This spring the government is reforming how it funds apprenticeships in England. The changes will result in adjustments to how apprenticeship training is organised and funded which will affect all employers, as well as some larger employers having to contribute to a new apprenticeship levy.
The apprenticeship levy will be introduced officially on 6th April 2017, with the principles of the new apprenticeship funding coming into effect from 1st May 2017. 
Much like other updates at...

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Categories: In the news, Business Support, Business Development, Top Tips

HMRC hit by Bogus Scams

HMRC HIT BY BOGUS SCAMS

Posted on: 12/10/2016

 

At this time of year contact with HMRC is likely to increase, as the rush to meet the autumn deadline looms. It is perhaps not surprising then that there has been a recent uptake in HMRC-related bogus scams circulating the country. Phishing emails and calls have been reported and in response to this crime HMRC have issued guidelines on how to identify their real contact from the malevolent hoaxes.
The focus of their campaign is based on three scams, of which they have been made aware. The first...

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Categories: In the news, Business Support, Top Tips

Holidays

HOLIDAYS

Posted on: 01/09/2016

 

You may have noticed over the last few weeks that offices across the country fell quiet, phones rang less and desks were abandoned as people headed off on holidays. A holiday from work can be beneficial not just for the employee - a change is as good as a rest - but also for the employer. Employees coming back from holiday are (generally) rested, positive and refreshed. They are less likely to take sick days - unless they picked something up on their travels - and they can have renewed enthusiasm...

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Categories: In the news, Business Support, Business Development, Top Tips

New Advisory Fuel Rates

NEW ADVISORY FUEL RATES

Posted on: 21/07/2016

 

From June 1st 2016 new advisory fuel rates took effect for company cars. The new rates concern employees using a company car and the updated rates must be put into effect by 1st July 2016.
These new rates, the guidance states, only apply in two circumstances. The first is if you are a business that is paying expenses for business travel that your employees have undertaken in a company car. The second is if there are instances where you require your employees to pay back the cost of fuel used...

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Categories: In the news, Business Development, Top Tips

Build Diversity at the Top For Better Profits

BUILD DIVERSITY AT THE TOP FOR BETTER PROFITS

Posted on: 06/07/2016

 

Alan Joyce, the highly successful CEO of Qantas Airline has recently made the case that being open and genuine about yourself is better for business. Joyce (who is openly gay) argues that when senior staff appear as real people - diverse, human, unique - they create a culture of openness that embraces difference and helps foster a spirit of opportunity in the wider workplace.
Joyce, who turned around Qantas from a financial and PR disaster, explained to the BBC 
"I can say categorically...

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Categories: In the news, Business Support, Business Development, Top Tips

ELF World Blood Cancer Day

ELF WORLD BLOOD CANCER DAY

Posted on: 29/06/2016

 

Here at NED we are proud to support the pioneering work of ELF - Elimination of Leukaemia Fund. In March we celebrated the opening of a new haematology ward at Kings College Hospital, and now we are delighted to see ELF recognised in a recent advert in the Guardian about World Blood Cancer Day.
Jonathan Neal, one of the directors of NED Solutions in Chatham, is in his second year of being a trustee of ELF and is very proud of NED’s involvement with the charity, which puts leading science...

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Categories: About NED, In the news, Business Development

Three Day Week

THREE DAY WEEK

Posted on: 23/05/2016

 

A recent study conducted in Australia has shone a spotlight on how many working hours a week is optimum for older employees' performance. The work, conducted by Melbourne Institute of Applied Economics and Social Research at the University of Melbourne, has concluded that workers aged over 40 achieved the best results if they worked for 25 hours a week. Their research suggests that excessive work (such as 60 hours a week) was more deleterious to brain function than no work. However, working hours...

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Categories: Just for Fun, In the news

Significant Control

SIGNIFICANT CONTROL

Posted on: 13/05/2016

 

From 30th June 2016 a new category of information will be required when UK companies or Limited Liability Partnerships fill out their annual return for Companies House. In addition to the familiar categories companies are currently required to declare will be a new section to capture information about all people (or companies) that have significant control over a UK business. Named the PSC Register – People with Significant Control Register - the legislation aims to tackle opaque business practices...

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Categories: In the news, Business Development

Broadband... Speeding up?

BROADBAND... SPEEDING UP?

Posted on: 27/04/2016

 

This year the government has met its internet target of rolling out broadband to 90% of UK homes. The target, set in 2010, aimed to make the UK have ‘the best superfast broadband in Europe’by 2015. Although missing this target by a few months, the goal has now been achieved. In fact, Thinkbroadband, who use a range of methods to test broadband speeds, believe that by 2017 the UK will have 95% coverage for broadband services. However, this news, although broadly good, for many is not quite...

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Categories: Just for Fun, In the news, Business Development

Swerving Errors in Candidate Selection

SWERVING ERRORS IN CANDIDATE SELECTION

Posted on: 19/04/2016

 

The workforce of a business is instrumental to its success, this maxim is nothing new. However, how to identify the right talent and evaluate candidates for a position is a dark art for which there is no one right answer. When looking for a ‘how to’ guide for interviewing potential candidates it is sometimes easier to extract advice about what not to do, rather than what to do. To this end, here are a few interview practices that (if possible) can be given a swerve...
Unless you...

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Categories: In the news, Business Support, Business Development, Top Tips

Spring Cleaning

SPRING CLEANING

Posted on: 13/04/2016

 

In a recent article in the Times, Mark Atherton recommends that individuals ‘spring clean’their financial lives. Whilst his advice is aimed at people’s independent financial choices, his advised approach can be extended into business strategy with positive effects. In a busy business environment, time to address and clean up fine details can be hard to find. Coordinating diaries to get decision makers around the table, balancing budgets, striving to get the next project off the...

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Categories: In the news, Business Support, Business Development

The Ovaltine Index

THE OVALTINE INDEX

Posted on: 06/04/2016

 

The Financial Times has created an index to track the shape of British Industry from the 1930s to present day. Nicknamed ‘The Ovaltine Index’ the grouping represents British industry that has survived and oftentimes flourished across the past 80 years. The inspiration for the Ovaltine Index refers back to when the London stock market was viewed through the prism of the FT30, an index of 30 British companies compiled in 1935, which later grew into the larger FTSE 100 that we know today. 
Apart...

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Categories: In the news, Business Support, Business Development

New Digital Tax Accounts Mark the end of the Annual Return

NEW DIGITAL TAX ACCOUNTS MARK THE END OF THE ANNUAL RETURN

Posted on: 30/03/2016

 

Following consultation with software developers HMRC have started to roll out a set of programmes that will provide the template for a new digitalised method of recording & organising our taxes. “The system of online accounts will be similar to online banking”HMRC says. Personal tax accounts have already been released, with the model becoming nationwide by April 2016. Business tax accounts are to follow shortly. 
For those registered for VAT the change will be minimal,...

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Categories: In the news, Business Development

Big Ideas Need Failure

BIG IDEAS NEED FAILURE

Posted on: 22/03/2016

 

Research and development is an important element to any business, whether as a means to define your first product, or as a route to develop growth. However, investing in ideas is a risky business, where real value is handed over in the hope of gaining hypothetical returns. Fear of allocating resources to the unknown can lead businesses to feel a pressure to play it safe, producing mediocre ideas, or minimal innovations to ensure likely but limited outcomes. In this environment, fear of failure can...

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Categories: In the news, Business Support, Business Development, Top Tips

NED's Support Helps In The Fight Against Cancer

NED'S SUPPORT HELPS IN THE FIGHT AGAINST CANCER

Posted on: 01/03/2016

 

This year saw the opening of a new haematology ward at Kings College Hospital which will help in the fight against leukaemia and other related disorders. The ward has been named after the charity ELF Elimination of Leukaemia Fund (ELF) as well as the Lions international blood research appeal (LIBRA) in recognition for over three decades of support and funding they have provided. 
Chatham based NED Solutions director Jonathan Neal has been a key supporter of ELF and is in his second...

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Categories: About NED, In the news, Business Support

The key principles to creating the Strategic Report

THE KEY PRINCIPLES TO CREATING THE STRATEGIC REPORT

Posted on: 26/02/2016

 

Every large organisation needs a robust reporting structure in place to communicate performance and ongoing strategy with its shareholders and respective stakeholders. Here, we distill and examine the information laid out in the Financial Reporting Council’s [FRC] Guidance on the Strategic Report publication; although formally aimed at large organisations these principles are equally applicable to SMEs.
The FRC states that the purpose of the strategic report is to provide a company’s...

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Categories: In the news, Business Support, Business Development

Gender balance on UK boards: Encouraging progress

GENDER BALANCE ON UK BOARDS: ENCOURAGING PROGRESS

Posted on: 25/02/2016

 

The issue of appropriate gender diversity on the boards of UK companies is an ongoing challenge. But what have been the most recent developments, and what do they mean for UK business?

Fact: Organisations will perform better when the boards that run them include the best people for the job.
In the boardroom, strategy is formulated, targets and budgets are set and key company decisions are made. It is therefore imperative that boards are made up of the best individuals for the job...

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Categories: In the news, Business Development

Dividend Taxation - The impact on small businesses

DIVIDEND TAXATION - THE IMPACT ON SMALL BUSINESSES

Posted on: 29/01/2016

 

Last year, George Osborne announced the dividend tax credit would be replaced with a tax-free dividend allowance of £5,000, with higher taxes on income above that. The change – coming into force on 1 April – has dramatic impacts for small business owners and entrepreneurs.
 
 Dividend taxation: The facts
 
In his Summer Budget speech last year, Osborne stated that those who either pay themselves in dividends or have large shareholdings worth...

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Categories: In the news, Business Support, Business Development, Top Tips

Pension liberation - government responsible for £2bn loss?

PENSION LIBERATION - GOVERNMENT RESPONSIBLE FOR £2BN LOSS?

Posted on: 27/01/2016

 

Pension liberation. It’s a term that suggests that individuals can access their pension funds before the age of 55 without permission from HM Revenue and Customs (HMRC).
Fundamentally, pensions can only be legally accessed from the age of 55, apart from in special circumstances, and most opportunities to do so earlier represent scams. Firms offering pension liberation services often convince individuals of a legal loophole that allows them to access the money, but the High Court...

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Categories: In the news, Business Support, Business Development, Top Tips

Automatic enrolment - what has been achieved so far?

AUTOMATIC ENROLMENT - WHAT HAS BEEN ACHIEVED SO FAR?

Posted on: 23/12/2015

 

Millions of people in the UK have not been saving enough for retirement: Currently, 50% to 55% of the working population do not contribute to a pension. This has been the argument at the heart of the UK’s pension reforms, which were set out back in 2012.
The reforms require employers to automatically enrol eligible workers into a qualifying workplace pension scheme and make a minimum contribution. The automatic enrolment duties began in October 2012 and will conclude in February 2018,...

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Categories: In the news, Business Support, Business Development, Top Tips

The role of risk in business growth Amazon’s path to success

THE ROLE OF RISK IN BUSINESS GROWTH AMAZON’S PATH TO SUCCESS

Posted on: 10/12/2015

 

Success in business depends on the ability to identify potential ways to evolve and the nerve to take calculated risks.
Amazon demonstrated these two qualities earlier this month [13 November] with the introduction of its online grocery delivery service - Pantry - here in the UK.
Pantry has more than 4,000 items available to order and allows customers to order up to 44 pounds (20 kilos) of pantry items that don't require refrigeration for a flat delivery fee of £2.99....

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Categories: In the news, Business Support, Business Development, Top Tips

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