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At Rennie Welch we can advise business owners on many of the issues you face. Here are some of the possible advantages of opening the books to your staff...
Opening the books to employees is a strategy that has been tried to varying degrees by business owners over the years, and has often proved to be successful in motivating the workforce and improving performance.
Those who have taken this route report a number of benefits:
Not every owner would want to go so far as to reveal everything to the staff, but it might be worth considering at least a little more transparency for your business.
For the strategy to succeed you will need to develop a system of reporting that provides your employees with timely financial information in a form they can work with. We would be happy to help you.
If you are looking for support and advice from a team of professional accountants and business advisers, contact Rennie Welch.
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We are looking for an experienced Audit Senior to join our expanding audit department to assist with managing a diverse and rewarding client portfolio. A qualified/semi-qualified accountant you will work along side the audit manager and partners in managing and delivering audits, and also benefit from ongoing support and development.
Many will be aware of the pending changes from 6 April. Broadly the Chancellor announced a 1.2% increase to 15% and a reduction in the salary threshold from £9,100 to £5,000. At the same time the employer Annual Allowance will also change.
This may mean that some employers might be due to pay payroll taxes for the first time. With this comes questions and also planning opportunities as to what is the most tax efficient strategy, particularly for company directors.
For guidance and advice on this please get in touch.