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1 . Flexibility works and can benefit everyone I have noticed a considerable shift in mindset towards a more flexible , people-first approach from many businesses . Gone is the traditional 9-5 , businesses have realised that enabling people to manage their own time , take a longer lunch break to walk the dog or to finish a little earlier to do the school run has improved productivity . At the same time , businesses can see that this flexibility also helps to support the mental and physical wellbeing of employees .
2 . Remote working is here to stay Before the Covid-19 crisis , many businesses were reluctant to consider remote work options . Concerns around how to manage workers , maintain productivity and one of the biggest barriers ; having the technology in place to facilitate remote working , held businesses back . When lockdown started businesses had to take a leap of faith , invest in new technology and trust their people . Now
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remote working is almost mainstream , with many businesses across the world allowing their people to continue to work remotely on a permanent basis .
3 . Tech has allowed the show to go on Many of us used to feel uncomfortable about the prospect of using Teams and Zoom to hold meetings . Pre-Covid how many of us had even used Zoom ? But these platforms have enabled us to remain connected , collaborate , share stories , hold quizzes . It is never too late to invest in technology . If you were previously unprepared , now is the time to assess how your business operations were affected by the coronavirus crisis and tap into new technology to fix these gaps .
4 . Wellbeing is vital The wellbeing of staff is critical in employee retention . How leaders demonstrate that they genuinely care , that they are interested in how their people are doing , makes a
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real difference . Employers who fostered a culture of wellbeing and respect before and during this crisis will , no doubt , see their efforts reciprocated by employees in terms of commitment and loyalty .
Whilst I ’ m sure 2021 will bring new challenges , what 2020 has taught me is that we are adaptable , we are resilient and we are all in this together . If we can get through a global pandemic we can get through anything , surely ?
If you need any help with HR in your business please do get in touch . Email : Jo @ keystonehr . co . uk
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“ The wellbeing of staff is critical in employee retention . How leaders demonstrate that they genuinely care , that they are interested in how their people are doing , makes a real difference . ”
For more info : www . keystonehr . co . uk
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A cap was first announced in the 2018 Budget to prevent abuse of the R & D tax credit SME ( small to medium-sized enterprise ) scheme .
Under the original proposal , the amount of payable tax credit that a qualifying , lossmaking business could receive was capped at three times the company ’ s total PAYE and National Insurance Contributions liability for that year . As part of the 2020 Budget , the Government announced that the introduction of the cap would be delayed until 1st April 2021 to allow for more time to consult on these proposed changes .
This consultation process is now complete and after speaking with businesses , professional bodies and a variety of experts the Government has published its outcomes .
In its report it has confirmed that the design of the PAYE cap will include the following features to minimise the impact on claims from genuine businesses :
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• A company making a small claim for
payable credit below £ 20,000 will not be affected by the cap .
• A company will be able to include related party PAYE and NIC liabilities attributable to the R & D project when calculating the cap and these will be subject to the 300 per cent multiplier .
• A company ’ s claim will be uncapped if it meets two tests :
– a business ’ s employees are creating , preparing to create or actively managing intellectual property ( IP ); and
– its expenditure on work subcontracted to , or externally provided workers ( EPWs ) provided by , a related party is less than 15 per cent of its overall R & D expenditure .
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While the introduction of the new test is likely to impact heavily on a small number of businesses , it should ensure that many SMEs won ’ t be affected by the new cap . We recommend that the possible impact of these rules is reviewed as soon as possible , to ensure that any changes can be made to the structure of your R & D function or engagements , and preserve entitlement to relief wherever possible .
If you require help with making an R & D tax credit claim or are unsure of how this change may affect you or your business , please get in touch .
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illoyd @ milsted-langdon . co . uk 01225 904940 |
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THE BUSINESS EXCHANGE 2020 13 |