Insight Associates provide outsourced accounting and Finance Director services to ambitious and growing businesses. We work as your only resource or with existing staff to give you complete financial support including monthly management accounts, high level financial advice, robust controls and financial systems, funding and business planning, payroll & compliance, VAT returns and statutory compliance.

Successful business leaders have all the information they need to make good decisions…Do You?

Thursday, June 02, 2011

An interesting letter from HMRC Debt Management

This letter has today been received at our offices, addressed to one of our clients. We have never seen anything like this before and it does rather raise the question is this really a major change of position from HMRC?



This client has not been a repaet user of the Business Payment Support Service, unlike many businesses. I wonder what would happen now if they did request a further Time to Pay arangement?  Are they saying they would not get one?

Is this an interesting development?  We would be interested in any comments below on experience from any readers.

Wednesday, June 01, 2011

Are you prepared for 2012?

A guest blog entry from Nigel Taylor of Seddon Smith Financial Services
As you are no doubt aware, 2012 is the year when the Olympics come to London, bringing with them a potential boost for the UK. However, rather less well known is that this also sees the introduction of NEST, a pensions scheme designed to change employees’ access to workplace pension and retirement arrangements – and which will increase costs for many businesses.

A recent study of 300 businesses by BBS consultants & Actuaries shows that employers are unprepared for the new legislation with 87 per cent of respondents reporting they had yet to agree their policies on dealing with the measures

Considering the changes

NEST – the National Employment Savings Trust – is designed specifically to encourage lower earners to start making provision towards their own retirement. The scheme will use a combination of compulsion and incentive to maximise participation and thereby offer a savings solution for many workers who have so far made no independent arrangements of their own.

The compulsion will come by making enrolment automatic whilst the incentive comes through enforced employer contributions and tax relief, which will double the amount the employee, invests. An employee has to actively opt out – every year – if they do not want to be involved.

Employers like yourself are therefore now faced with a number of decisions: -
  • What are the costs and how will you fund them?
  • In addition, what more flexible arrangements can you offer to retain higher earners or incentivise more valuable employees?
  • Alternatively, does your existing scheme meets the new criteria and therefore be allowed to continue in place of the Government’s plan?
To take action now and learn more, we have prepared a small document to give you the facts. To receive this free, please email: nigeltaylor@seddonsmith-fsl.com

Insight Associates, Insight House, Riverside Business Park, Stoney Common Road, Stansted Mountfitchet, Essex, CM24 8PL, UK
Tel: +44 (0)1279 647447 Fax: +44 (0)1279 814512
Insight Associates is a trading name of Financial Catalysts Limited. Registered in England and Wales Number: 5670047. Registered Office as above. Disclaimer | Cookies