As we near the end of the first pay period of 2016/17 I thought it an ideal time to briefly cover some of the employment tax changes for the current year and to provide details of the new tax rates.
In no particular order, the main changes are:
1. The National Living Wage came into effect on 1 April 2016 and all workers aged 25 years and over are now entitled to at least £7.
The subject of this blog is one specific area of our team’s expertise – commercial disputes.
In a nutshell…
Commercial disputes arise as a result of any form of conflict that occurs between businesses or those within a business.
There are different types of commercial dispute, from failure to fulfil contractual obligations to business owners falling out over differing opinions.
What internal controls does your firm have in place to ensure that client money is protected?
Do they perform their intended roles effectively?
How can you be sure?
The Solicitors’ Regulation Authority (SRA) Accounts Rules have seen a considerable change in the past few months, involving the removal of a prescribed list of tests to undergo on an SAR audit, and the introduction of a new rule which reads as follows:
“The Accountant should exercise his or her professional judgement in determining the work required for the firm they are instructed to obtain the report on in order to assess risks to client money arising from compliance with these rules.