Monthly Archives: November 2023

Autumn Statement 2023: What You Need to Know

The Autumn Statement 2023 has brought significant changes that will have a profound impact on businesses and individuals alike. In this blog post, we will delve into the key updates announced in the Autumn Finance Bill, focusing on the keywords ‘Autumn Statement 2023’ for the KA Farr website. Significant Changes in the Autumn Statement The Autumn Finance Bill has introduced a game-changing update for businesses. The ‘Full Expensing’ deduction, which allows companies to claim a 100% first-year deduction on qualifying new investments, will now be a permanent feature. This move aims to encourage businesses to invest in their growth and […]

When it comes to making employees redundant, it is not just a difficult decision for employers but also a potentially distressing situation for all parties involved. Mistakes in the redundancy process can lead to legal claims and tribunal cases. That is why seeking professional advice is crucial. Termination of Contract Terminating an employee’s contract involves various aspects, including the final payment. Apart from the regular earnings (salary, accrued holiday pay, accrued bonuses, etc.) up to the last working day, the termination award consists of additional payments made specifically upon the termination of employment. Such payments may include statutory redundancy pay, […]

When it comes to paying your employees, complying with the National Living Wage (NLW) or Minimum Wage (NMW) is crucial to avoid penalties and reputational damage. To help employers navigate through the complexities of paying the correct minimum wage, HMRC has identified 18 common errors that you should be aware of. In this blog post, we will delve into each of these errors, providing actionable insights to protect your business and ensure you are paying your employees correctly. 1. Making deductions that reduce the worker’s pay below the statutory minimum One common error is making unauthorized deductions from an employee’s […]