New research carried out by Royal Mail suggests that a quarter (25 per cent) of small and medium-sized enterprises (SMEs) in Britain’s retail sector are anticipating strong sales over the Easter bank holiday weekend. Read more
The Government will introduce a new ‘plastic tax’ later this year providing it passes the consultation period, according to a new report. Read more
In recent days, it has emerged that HM Revenue & Customs (HMRC) is investigating new ways in which robotics and artificial intelligence (AI) could be used to check the accuracy of tax returns. Read more
The Treasury has announced new legislation which is hoped to even the playing field for businesses trading in the UK and ensure that they all pay their fair share of tax. Read more
As the UK tax year comes to an end, you may not have considered how the new devolved Scottish rate of income tax (SRIT) will affect you, your business or your family. Here are three things which you should know about tax in 2018/19. Read more
HM Revenue & Customs has published a new report on how businesses can begin preparing for the new Customs Declaration Service (CDS). Read more
The British Chambers of Commerce (BCC) has revised its GDP forecast for 2018 from 1.1 per cent to 1.4 per cent. Read more
While the Chancellor’s first Spring Statement was a largely uneventful affair with no major tax or spending changes, he did announce a number of consultations, which provide an interesting insight into his future plans. Read more
In recent days, the Institute of Fiscal Studies (IFS) has forecast that colossal tax rises will be required between now and 2025 in order to cut the UK’s deficit in line with Government pledges. Read more
While yesterday’s Spring Statement revealed little, it did call for views on how plastic taxes could help the environment. Read more
In recent days, several reports have emerged suggesting that bogus phone calls from fraudsters posing as HM Revenue & Customs (HMRC) officials are growing increasingly common across the UK. Read more
Paying your workforce should be simple. But with ever-changing legislation and regulation, payroll can be one of the more tricky aspects of running a business. With this in mind, we’re here to help you get to grips with upcoming changes which all employers should be aware of. Read more
A new study into workplace productivity suggests that small and medium-sized enterprises (SMEs) looking to motivate their staff will achieve better results if they offer smaller, more regular rewards to high-performing team members, as opposed to paying their employees an annual bonus.
The research, which recently appeared in Business Matters magazine, suggests that only 30 per cent of employees tend to feel more motivated when receiving one big reward at the end of the year.
Among younger workers, the percentage is even less – with just a quarter of 18 to 24 year-olds claiming that annual bonuses keep them motivated, and just 27 per cent of 25 to 34 year-olds feeling the same.
The study, which was carried out by business marketing firm Sodexo Engage, found that the majority of employees across all age groups would prefer to be offered smaller rewards throughout the year for good work – and that, interestingly, such rewards did not always have to be cash-based.
Overall, four in ten SME employees said that this would be the best approach their bosses could take in order to keep them feeling motivated and rewarded throughout the year.
This figure rose to almost half (47 per cent) among younger workers aged between 18 and 34, the report reveals.
Commenting on the findings, Iain Thomson, of Sodexo Engage, said: “Our research shows a change in attitude among British workers when it comes to being rewarded.
“Cash incentives are no longer having the effect they had 10 years ago.
“Rewards like these have almost come to be expected by some employees, which can actually devalue their achievements,” he said.
“What people really want is a closer relationship with their employer and more opportunities to be rewarded. Rather than cash, which can get lost in bills and household expenses, employers have the opportunity to give their employees something more memorable. This will help businesses to create much stronger relationships with their staff.”
Today is International Women’s Day and, to mark the event, student body Founders4Schools (F4S) and tech recruitment company Mortimer Spinks have released a report which highlights the importance of female entrepreneurship to the UK economy. Read more
The British Retail Consortium (BRC) has published statistics which show that UK food sales were on the rise in the three months to February, but shoppers resisted from spending money on non-essential items. Read more