family business

A Guide to Shared Parental Leave

A Guide to Shared Parental Leave

Although overshadowed by other stories in the media when they were first introduced on 1 December 2014, the Shared Parental Leave and Statutory Shared Parental Pay regulations have brought about one of the biggest changes to employment law in years. Shared Parental Leave has the potential to affect every employer at some point, but research shows uptake amongst fathers has been low. The principals of SPL are simple, but for both employers and employees, the details can be rather more complicated. Our guide will help clarify the process for employees and employers: 1. What is Shared Parental Leave? 2. Who qualifies for Shared Parental Leave? 3. Statutory Shared Parental Pay 4. Applying for Statutory Parental Leave (employees) 5. Preparing for Shared Parental Leave (employers) 6. Processing ... »

Money Problems Costing Business Owners Their Family Life

Money Problems Costing Business Owners Their Family Life

The stress and strain of running a small business is costing people their financial, mental and family wellbeing, a new study has revealed. Scottish Widow’s Centre for the Modern Family: Families in the Future report has revealed that 20% of business owners’ family members admit such a career choice has made them more stressed, with 19% admitting it’s increased money worries in the household. While 42% of the nation’s workforce would like to become self-employed, 40% revealed they prefer the financial security of being a permanent employee and 39% enjoy the benefits – such as a pension, parental leave and sick pay – too much to go it alone. When it comes to downtime with the family however, business owners appear to have more flexibility than an average employee, with 35% saying they... »

Family Businesses Unaware of Inheritance and Capital Gains Tax Liabilities

A third of family-business owners are unaware of their domestic inheritance tax and capital gains tax (CGT) liabilities, research from PricewaterhouseCoopers (PwC) has found. In PwC’s survey of more than 1,600 family-owned small and medium-sized businesses across 35 countries, two thirds of UK firms were also unaware of the international inheritance tax or CGT that they could incur, typically by owning premises abroad.  According to the poll, many UK firms are less well-prepared than their global counterparts. In Spain, 91% of firms were aware of their domestic Capital Gains Tax implications, while 85% of Brazilian firms and 73% in Germany were up to speed on their tax exposure. Mary Monfries, tax partner at PwC, said the results were “concerning”, saying: “Tax charges incurred throu... »

Family Business

Family firms compete for £5k cash prize

The UK’s most enterprising family businesses are being called on to enter Barclays Local Business Family Affair Awards before 31 March, for the chance to win a £5,500 cash prize. A panel of judges — including the former winner of BBC Dragons’ Den, Levi Roots, creator of Reggae Reggae sauce — will search for the UK’s most dynamic family business. Applicants will be asked to explain how they have overcome challenges running their business, and why they think their family is successful at enterprise. Nine regional winners will receive a cash prize of £1,500 each. The judges will select one of these as the overall national winner who will receive £5,500 cash. “Nobody knows better than I do the importance of family when it comes to every asp... »