York - 
15 November 2016
Financial advice
If you're looking to get a better return from your money than you can from your bank account, then the time might be right to think about investing for the future. Before you begin, here are some golden rules to consider. HOLD SOME CASH You'll need to have ready access to a cash fund to cover everyday living expenses and unforeseen expenditure. Obviously, there's no point rushing into investment if you've got substantial debts or if you know you're going to have to make major financial commitments that will take up all your spare cash. A vital part of your financial planning must be providing adequately for retirement, not least because of the tax breaks available on pension contributions. DEFINE YOUR GOALS You need to be clear why you're investing and what your goals are…
03 November 2016
Employment advice
This is a round-up of the main employment law changes that have recently come into effect, including those taking place from Autumn 2016. Gillian Reid, Head of Employment at Ware & Kay Solicitors in York & Wetherby, outlines the main changes and the action you need to take as a result. National minimum wage rises The national minimum wage is reviewed every year and traditionally any increases come into force in the autumn. The new hourly rates from 1 October 2016 are: adult rate (21 to 24): £6.95; youth development rate (18 to 20): £5.55; young workers' rate (16 and 17): £4.00; and apprentice rate: £3.40. It is understood that these rate changes will only apply for six months because the government has decided to align all further changes with the national…
15 October 2016
Financial advice
From the beginning of the 2017/18 tax year the amount that individuals are able to save into ISAs will increase from £15,240.00 to £20,000.00, an increase that was originally mentioned by George Osborne in the March 2016 Budget as a way "to further help savers at a time of unprecedentedly low interest rates". With interest rates so low what is the benefit of saving money into an ISA? Put simply, if you have to give less money to the taxman then you have more money to do with what you want, an ISA is one of the simplest ways to do this. In the current climate it is more important than ever for you to be able to benefit from any growth that your savings make. In addition to their tax free status, cash ISAs also…
15 October 2016
Employment advice
We are living in unprecedented times. The historic decision of the UK electorate to leave the European Union, has resulted in a period of uncertainty about the implications of Brexit for workers and businesses in the UK and their future relationship with the EU. A key concern is the impact on migrant workers. Currently, EU citizens can live and work in the UK without the need for work permits or visas. Although Brexit might eventually mean an end or restrictions on this free movement of people, any changes are yet to be decided. In the meantime, both employers and employees will be looking for reassurance for what it means for them. Gillian Reid, Head of Employment at Ware & Kay Solicitors in York, Wetherby & Malton , advises employers on what to expect and what…
01 October 2016
Employment advice
If you need to part company with a director, for the good of the business, it may not be appropriate to follow your disciplinary procedure. Gillian Reid, Head of Employment in York & Wetherby, looks at the issues you should consider, especially if you need to achieve a quick exit with minimal disruption to the business and no publicity. Reason for the termination Two of the most common reasons for terminating a director's contract are poor performance, leading to the board losing confidence in the director, and a personality clash. You should first decide what the reason is for the exit, as it will have an impact on the claims the executive may have and therefore on the level of compensation you could have to pay. For example, you must consider whether the director has…
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