What the UK Budget 2024 Means for Employers: Changes in National Insurance and Tax Thresholds

The UK Budget 2024 introduces substantial updates affecting employers’ obligations, including adjustments to National Insurance contributions and changes in tax thresholds. For businesses, these updates mean that payroll costs and operational budgets will be directly impacted. The increase in minimum wage and adjustments to employer National Insurance contributions will affect both large and small businesses, especially those in sectors heavily reliant on labour.
These payroll increases necessitate proactive financial planning for businesses seeking to maintain profitability while complying with the new rates. For smaller businesses, managing these increased costs could require adjustments in staffing budgets, possibly affecting hiring plans or wage structures. Corporations and SMEs alike should revisit their budgets to incorporate these higher expenses, ensuring they are prepared to meet all obligations without disrupting cash flow.

For multinational businesses, changes to skilled worker visa requirements also present new challenges. As the government continues to balance domestic labour market needs with skilled immigration, companies must ensure compliance with the latest immigration requirements, particularly those concerning minimum salary thresholds. GSC Solicitors’ Employment Law team advises clients on both domestic payroll compliance and the complexities of skilled worker sponsorships, offering tailored strategies that align with the latest regulatory requirements.

Why GSC Can Help:

Our Employment Law team is available to help businesses of all sizes navigate the complexities of payroll planning, wage adjustments, and immigration compliance. Reach out to GSC Solicitors to learn how to mitigate the impact of budget changes on your workforce management and legal obligations.

UK Plc is now in recession – Tips for survival

© 2022 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.

 

Can an employer require staff to be vaccinated against COVID-19?

With restrictions easing in the UK, employers are facing one more question: can they make vaccination at work compulsory for their staff? Is there a law requiring vaccination? Why mandatory vaccination can become problematic?

Head of Employment team at GSC Solicitors LLP, David Nathan talks your through these questions and explains what can an employer do.

If you have any employment law queries, please do not hesitate to contact David Nathan at [email protected] or on 020 7822 2247.

© 2021 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.

 

 

How to save money by switching to Ethical Banking

What are ethical banks? An ethical bank, also known as a social, alternative, civic, or sustainable bank, is a bank concerned with the social and environmental impacts of its investments and loans. The term is a fairly broad one, which means it covers a wide range of ideas and concepts under its umbrella.

A wide scope of things is included, ranging from banks offering loans and financial assistance to start-ups that are environmentally friendly to those that serve struggling communities or help individuals looking for affordable housing.

The root of ethical banking is a core set of principles and beliefs. Ethical banks remain true to their core model of conduct.

In this video of The GSC Academy Associate Solicitor Leila Mustafa talks about the definition of Ethical Banking, how it can save you money and make you feel good about the impact of your personal finance.

If you need assistance with either switching to Ethical Banking or with any ethical finance products, please do not hesitate to contact Leila Mustafa directly on [email protected] or 0207 822 2222.

© 2021 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.

 

Online court hearings – How to prepare yourself?

As we all know, courts also had to move to online platforms allowing hearings to still take place in the time of the pandemic.

However, as it is a new way for both, courts and those attending hearings in any other relevant capacity, how does one prepare themselves for an online hearing?

In today’s video under The GSC Academy digital series, GSC’s Litigation & Dispute Resolution expert Mark Richardson provides you with a step-by-step guide how to prepare yourself in the best way, should you find yourself in the situation when you’d need to attend an online court hearing:

 

For further questions please contact Mark Richardson directly on [email protected] or 0207 822 2240.

© 2020 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.

 

Succession planning in a pandemic and beyond

What can you do when reviewing your succession planning? GSC’s Private Client Partner Amanda Chapman talks you through some essentials and actionable tips on where to place your focus.

The top tips given in the video include reviewing one of the most important documents like a Will, where Amanda explains what can be done in order to reduce the lack of understanding or clarity, as well as costs and conflict.

Furthermore, what feasible steps one could take to preserve their business assets and to obtain an optimum tax treatment. These are just a few of the issues covered in the video, it can be viewed here or by clicking on the image below:

© 2020 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.

 

Redundancies: How (not) to

In today’s issue of The GSC Academy digital series Head of Employment David Nathan talks you through important steps of redundancy process, with focus on what mistakes employers should try to avoid as they may bring costly consequences:

© 2020 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.

 

Commercial Lease: Rescue tools for Landlords and Tenants

In the next video under The GSC Academy digital series we focus on commercial lease issues.

What are the actions that can be feasible and practical for both, Landlords and Tenants, in relation to commercial leases? GSC’s Property expert Carole Joseph talks you through some of these, including how Tenants can terminate/get out of commercial lease and what options are available for them. Carole also explores how Landlords can restructure a lease if it is not possible for a Tenant to terminate the lease.

© 2020 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.

 

The GSC Academy series: Business Survival Tips

The newly introduced resource, The GSC Academy, starts with its very first video – Business survival tips.

Head of Insolvency & Restructuring  Richard Curtin talks about how to survive in the current recession. His message offers plenty of useful tips for businesses from managing cashflow to creditors.

It can be viewed below or here: https://bit.ly/3gLbDX6 

If you have any questions or concerns about your business, contact GSC’s Insolvency & Restructuring expert Richard Curtin directly on [email protected] or 020 7822 2224.

 

© 2020 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.

 

GSC Solicitors LLP launches ‘The GSC Academy’

GSC Solicitors LLP are proud to announce an exciting new resource for businesses, individuals and families, The GSC Academy.

It is aimed at sharing a wide variety of important knowledge with you that is practical and relevant for the current climate.

The objective for The GSC Academy is to keep you up to date and ahead of time on the latest developments by providing you with practical and actionable information on topics, whether it’s on COVID-19, Brexit or any  other pressing issues.

We will be launching the first in our series of short videos addressing the latest legal issues and giving you the tools to succeed.

The next stage will include informational and useful webinars and events.

To make sure you receive the latest videos and invitations straight to your inbox please email us on [email protected]

© 2020 GSC Solicitors LLP. All rights reserved. GSC grants permission for the browsing of this material and for the printing of one copy per person for personal reference. GSC’s written permission must be obtained for any other use of this material. This publication has been prepared only as a guide to provide readers with general information on recent legal developments. It is not formal legal advice and should not be relied on for any purpose. You should not act or refrain from acting based on the information contained in this document without obtaining specific formal advice from suitably qualified advisors.