Pennington Williams

A Fresh Start: Review Your Business Goals for the New Year  January is the perfect time to hit pause, reflect, and plan for your business’s future. After the festive whirlwind, take a moment to review where your business is headed, assess performance, and ensure you’re on track to meet your goals. 💡 Why Now? The start of the year is ideal for checking in with your bigger goals—beyond urgent emails and daily challenges. Ask yourself: Are you meeting your financial targets? Have your priorities shifted? Are there new opportunities or challenges to prepare for? 📊 Set Yourself Up for Success 1️⃣ Review Last Year: What worked? What didn’t? Use these insights to refine your focus. 2️⃣ Set SMART Goals: Be Specific, Measurable, Achievable, Relevant, and Time-bound. 3️⃣ Plan Your Steps: Break goals into actionable tasks with clear milestones. 4️⃣ Budget Wisely: Align your finances with your goals. Even a simple budget can make a big difference. 💼 Make 2025 Count With clear goals, a solid plan, and the determination to follow through, this could be your best year yet. Start strong, stay focused, and steer your business towards success. #BusinessGoals #NewYearPlanning #BusinessGrowth #GoalSetting #EntrepreneurTips #2025Vision

Ahead of the Deadline!  Even during the festive season, thousands of people took the opportunity to sort their tax affairs early! According to HMRC, over 40,000 taxpayers filed their returns during the Christmas break, with some even prioritising tax over turkey. 📊 Festive Filing Highlights: Christmas Eve: The busiest day with 23,731 returns filed. The most popular hour? 11:00 to 11:59. Christmas Day: 4,409 returns were filed, with 368 people submitting theirs between 15:00 and 15:59. Boxing Day: 11,932 returns filed, with the busiest hour being 16:00 to 16:59. 💡 Why File Early? Filing early brings peace of mind and gives you more time to plan how to pay your tax by the 31 January deadline. 📞 Need Help? If you’re unsure whether you need to file a tax return or need assistance getting it done, we’re here to help. Get in touch with us today! #TaxFiling #HMRC #SelfAssessment #TaxTips #PenningtonWilliams

🎄✨ Wishing Everyone a Merry Christmas from Pennington Williams! 🌟🎁 May the coming year bring you success, happiness, and new opportunities. Thank you for being part of our journey, and we look forward to continuing to serve you in the upcoming year.

New reporting requirements for online platforms 👇 New changes come into effect from January 2025 where online platforms, such as eBay and Airbnb, will start sharing some user sales and personal data with HM Revenue and Customs (HMRC). Although these reporting requirements have caused concern, HMRC have confirmed that there are no changes to the tax rules for someone selling unwanted possessions online. Angie MacDonald, who is HMRC’s Second Permanent Secretary and Deputy Chief Executive Officer, said: “We cannot be clearer – if you are not trading and just occasionally sell unwanted items online – there is no tax due.” HMRC have advised that anyone who sold at least 30 items or earned roughly £1,700, or provided a paid-for service, on a website or app in 2024 will be contacted by the digital platform in January to say their sales data and some personal information will be sent to HMRC due to new legal obligations. This does not mean that an individual automatically needs to complete a tax return. However, if the following applies then you would likely need to register for self assessment (if you are not already registered) and pay tax. • Buying goods for resale or making goods with the intention of selling them at a profit; or • Offering a service through a digital platform – such as delivery driving or letting out a holiday home; and • You generate a total income before deducting expenses of more than £1,000. If you are concerned about whether you are likely to need to register for self assessment or pay tax, give us a call and we will be happy to help you. See:

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Construction Firm Director Disqualified for 8 Years 🚨 Samantha Fairweather, director of Essex-based Fairweather Construction Ltd, has been disqualified from serving as a company director for eight years after taking over £300,000 in deposits for home improvement projects that were never delivered. The investigation revealed: 🔴 Unfinished Projects: Customers paid deposits for work that was never completed. 🔴 Financial Mismanagement: The company owed creditors over £700,000, including £100,000 in unpaid taxes to HMRC. 🔴 Bounce Back Loan Misuse: £11,000 of a £50,000 loan was misused to repay a director's loan, breaching loan guidelines. Fairweather’s disqualification highlights the importance of: ✔️ Directors maintaining financial responsibility ✔️ Thoroughly vetting suppliers before paying deposits ✔️ Seeking professional advice early if financial difficulties arise If you’re concerned about the financial health of your business or need support managing your accounts, we’re here to help. Don’t wait until it’s too late—get in touch today. #BusinessFinance #DirectorDisqualification #Insolvency #FinancialResponsibility #ConstructionIndustry #businesssupport

Employment Rights Bill Update – What You Need to Know 🚨 The Employment Rights Bill is making progress, receiving a majority vote at its second reading in the House of Commons and moving to the committee stage for detailed examination. According to its Impact Assessment, the Bill is set to have a positive impact on economic growth. 📢 The government has now launched consultations on key areas of the proposed legislation, including: 1️⃣ Strengthening Statutory Sick Pay (SSP) – Removing the waiting period and Lower Earnings Limit, making SSP accessible from day one for all employees. 2️⃣ Zero Hours Contracts for Agency Workers – Exploring how new measures can apply without unintended consequences. 3️⃣ Modernising Industrial Relations – Updating the legislative framework for trade unions. 4️⃣ Collective Redundancy & Fire and Rehire – Strengthening employee protections in these areas. 🗓️ Consultation Deadlines: Most consultations close on 2 December 2024, with the SSP consultation closing on 4 December 2024. 💡 Have your say! These changes could significantly impact businesses and employees. For more information and to view the consultations, visit: 👉 link in the comments #EmploymentRightsBill #EmployeeProtection #SSP #IndustrialRelations #UKBusiness #HRUpdates

Exciting News: We’re Now Offering a Virtual Finance Director Service! 🌟 Imagine having access to a highly experienced Finance Director—without the full-time cost! Our Virtual Finance Director (FD) service is here to provide your business with: ✅ Strategic Financial Leadership tailored to your goals ✅ Cost-Effective Expertise at a fraction of the price of a full-time hire ✅ Flexible Support when and where you need it From budgeting and forecasting to risk management and compliance, our Virtual FD service ensures your finances are in top shape, allowing you to focus on growing your business. 💡 Why Choose a Virtual FD? ✅ Save time and resources with streamlined financial processes ✅ Gain valuable insights to make smarter financial decisions ✅Scale support to meet your business’s unique needs Ready to take your financial strategy to the next level?  Contact us today at 0151 334 2444 to learn more about how we can support your business growth. https://lnkd.in/egh6p_PE #NewService #VirtualFinanceDirector #BusinessGrowth #StrategicFinance #CostEffectiveSolutions

🚨 HMRC Reform: Digital Transformation & Closing the Tax Gap 🚨 In addition to the recent e-invoicing initiative, the Chancellor has outlined broader reforms to modernise HMRC with a Digital Transformation Roadmap, set to launch in Spring 2025. This roadmap will move towards a “digital-first” tax system, while ensuring support for those unable to fully embrace digital. Key changes include: ▪️Appointment of James Murray, Exchequer Secretary to the Treasury, as Chair of the HMRC Board, to oversee efforts in closing the tax gap. ▪️A target to recruit 5,000 additional compliance staff to ensure the government collects all due taxes. 💼 How This Could Impact Your Business: With HMRC focusing on tax compliance, now is the time to review your processes to ensure everything is up to date and penalty-free. For those still using paper-based or outdated systems, consider upgrading to digital solutions as HMRC moves towards a digital-first future. If you need advice on tax compliance or transitioning to digital systems, we're here to support you through the changes and help position your business for success. #DigitalTransformation #TaxCompliance #HMRCReform #BusinessGrowth #UKTax #ClosingTheTaxGap #ChancellorUpdate #DigitalFirst For more details, see: Chancellor’s Government Reforms

New Apprenticeship Reforms – What They Mean for Your Business 🚨 The government has introduced some exciting reforms to the apprenticeship system in England, aimed at giving businesses more flexibility and helping young people access valuable training opportunities. Here’s how the new growth and skills levy could benefit your business: 💡 Key Changes: ▪️Growth and Skills Levy: Replaces the apprenticeship levy, offering more flexibility for shorter apprenticeships tailored to your business needs. ▪️Foundation Apprenticeships: New opportunities for young people to earn while learning in critical sectors, helping you tap into eager, motivated talent. ▪️Shift in Funding: Businesses will need to fund more high-level (level 7) apprenticeships outside of the levy. Now’s the time to plan ahead and adjust your budget. 📊 Why This Matters: A recent Skills England report highlights massive skills gaps across industries, with employer investment in training down 19% since 2011. By investing in apprenticeships now, your business could secure a competitive edge in filling these critical roles. 🌟 Takeaways for Your Business: ▪️More flexible, shorter apprenticeships to suit your needs. ▪️Access to a pipeline of young talent through foundation apprenticeships. ▪️Plan for increased funding responsibility for high-level apprenticeships. ▪️Act now to fill skills gaps and secure long-term growth. For more details, keep an eye on announcements from the Department for Education. If you’re ready to explore apprenticeship options, now’s the perfect time! #Apprenticeships #BusinessGrowth #SkillsGap #TrainingInvestment #UKBusiness #WorkforceDevelopment #ApprenticeshipReforms For more info, see: Prime Minister Overhauls Apprenticeships.