Mothers-to-be Can Now Claim a Tax-Free Cash Bonus of £190.
April 6, 2009 by Davenports Tax Team
Filed under Accountancy News
The new Health in Pregnancy Grant (HiPG) is a one-off payment intended to help pregnant mothers stay fit and healthy in the run up to the birth, and help meet some of the costs as the big day approaches.
Yvette Cooper, Chief Secretary to the Treasury, said:
“Every month around 65,000 women in the UK celebrate the birth of a new child. And with the introduction of the baby grant mums-to-be can now get extra help at such an important time in their family life.
“Every mum knows that the run up to birth can be an expensive and sometimes stressful time.
“The grant will help mums-to-be support their good health during the pregnancy, as well as help give their child the best possible start in life. It’s the mums’ choice what they do with the cash as everyone’s circumstances are different.”
Janet Fyle, Professional Policy Advisor at the Royal College of Midwives, said:
“This is a commendable initiative from the Government, and one that demonstrates that we value and want to support mothers-to-be. Midwives have a crucial role to play in assisting and enabling all women to access the grant. They are often a woman’s first, and in some cases, only contact with the health service.
“Midwives will be there to give objective advice and information to women about the grant, because they know an investment in women is an investment towards a healthier woman and a healthier baby.”
The money can be claimed from the 25th week of pregnancy, after receiving health advice from a midwife or other health professional. Expectant mums will be given a claim form to sign and send off, which they must do within 31 days. When the claim is approved, the money is paid directly into a bank or building society account.
Pregnant women can get more information at http://www.direct.gov.uk/money4mum2be or by downloading a free podcast at http://www.hmrc.gov.uk/podcasts
Pensioners Benefit From 5% Increase in State Pension
April 6, 2009 by Davenports Tax Team
Filed under Accountancy News
The weekly full basic State Pension will rise by five per cent from £90.70 to £95.25 from today – almost an extra £5 a week.
Around 12 million pensioners will benefit from this increase in their State Pension, the biggest percentage increase since 2001.
Minister for Pensions and the Ageing Society Rt Hon Rosie Winterton MP said:
“The increase in the basic State Pension will put extra cash in pensioners’ pockets every week, to help them through these tough times.
“Poorer pensioners will get real help through the biggest ever rise in Pension Credit, which tops up their income, such as State Pension or a private pension, and which will ensure no pensioner needs to live on less than £130 a week, or £198 for couples.
“I know at the moment, people are feeling the pinch and have concerns about finances. But it’s worth looking at how far we have come in helping vulnerable pensioners in the last ten years. In that time we’ve lifted nearly a million pensioners out of poverty.
“Only last month an EU Commission report showed that the income of the UK’s pensioners has increased significantly over the last decade. In 1997 our pensioners’ income was well below the European average. Today their income is nearly ten per cent higher than the European average. Even the poorest pensioners in the UK are better off than the poorest pensioners in France or Germany.”
The new rate represents an increase of five per cent in line with last September’s Retail Prices Index.
The Chancellor committed to an annual uprating of the Basic State Pension by the increase in the September Retail Prices Index or 2.5 per cent, whichever is the highest in the Pre-Budget Report in 2001.
From 6 April the Pension Credit standard minimum guarantee will increase by the largest amount since it was introduced in 2003 from £124.05 to £130.00 a week. Couples will see their Pension Credit award rise from £189.35 to £198.45 a week.
Decisions on benefits uprating for 2010/11 will be made towards the end of the year.
Purnell: Businesses Can Take Advantage of New Incentive to Recruit More Staff
April 6, 2009 by Davenports Tax Team
Filed under Accountancy News
From today businesses will be able to take advantage of up to £2500 recruitment and ‘on the job’ training subsidies, as an incentive to take on people who’ve been looking for work for six months or more. The subsidy is worth £1000 and the company can, depending on location, access up to £1500 worth of in-work training.
The recruitment and training subsidy, or ‘golden hello’, is part of a package of measures announced by the Prime Minister in January, designed to give even more support to people who’ve been claiming Jobseeker’s Allowance for six months.
The other elements of the package include more support for people who want to set up their own business; access to 75,000 new work-focused training opportunities; and the opportunity to do work-focused volunteering.
James Purnell, Secretary of State for Work and Pensions, said:
“The impact of the global recession is being felt here at home, and finding a job is not easy. We are investing £2bn to help people get back into work as quickly as possible.
“Today businesses can take advantage of the new recruitment subsidy, where we will provide up to £2500 as an incentive to take on someone who has been claiming unemployment benefit for six months. This includes a subsidy of £1000 and depending on their location they will also have the opportunity to access up to £1500′s worth of in-work training to give that person the right skills for the job.
“This is just part of a range of measures coming in today to give people all the support we can – from CV writing and job searching to skills checks and training opportunities – to make sure that where it happens unemployment is short and people can quickly find their way back to supporting themselves and their families.”
John Denham, Secretary of State for Skills, said:
“It’s very important that people struggling the most to find work will get extra support to improve their skills to help them gain employment.
“We know that people whose skills are up to date are more likely to find a good job, and that employers with well trained staff do better than those that don’t invest in the skills of their workforce.
“That’s why we are doing everything we can to boost training opportunities to help people through this tough time and help prepare for the upturn when it comes.”
As well as the enhanced offer for jobseekers reaching the six month point, more help available from day one of unemployment also comes on stream today. It includes greater support for job searching, CV writing, help with skills, interview preparation and access to more Local Employment Partnership vacancies.
Davenports and Gemelli Childcare Vouchers
April 3, 2009 by Davenports Tax Team
Filed under Accountancy News
As a firm of Accountants and Business Advisors, Davenports recognises the expertise required to assist you in implementing Employee Benefits – which is why we chose Gemelli Childcare Vouchers, who are specialist Childcare Voucher Providers and Scheme Managers.
Their specialist staff will ensure all the necessary systems and procedures are in place to ensure they do all the administration of the Scheme on your behalf and ensure you follow the Governments guidelines for the Scheme, leaving you to concentrate on running your business.
Some of our clients have already decided to introduce a Childcare Voucher Scheme as it offers financial benefits to employees and the company. For further information vist the Childcare Vouchers page, or simply complete the quick form below for a Gemelli Childcare Vouchers representative to contact you shortly.
Transferring Business Accounts Between Banks
April 1, 2009 by Jason
Filed under Accountancy News
It’s easy to stay with the bank you chose when you started up in business – but switching your business account could help you get a better deal.
Increased competition between banks trying to attract small business customers, together with the development of telephone and Internet banking, means there’s a range of attractive packages available.
Moving your account should be more straightforward than before, with the agreement of many major clearing banks to make the process easier.
If you’ve had a business bank account for some time, are you sure you’re getting a good deal? If you’re not, how do you go about negotiating a better package with your bank or changing accounts?
Davenports provides clients with highly relevant information to help start, set up and run a Business. Here you will find advice and services from accountancy to help you grow your business (visit the accountancy start up page), through to a website presence and business stationery, all directly available to the business community.
