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Member Update - December 2017
Merry Christmas and a Happy New Year

With the festive season upon us the IAB team would like to wish you all a very merry Christmas and prosperous New Year, and thank you for your continued support.

This year has been a successful one for the IAB and we hope it has been for you too. We look forward to continued success in 2018 and being able to offer you further support and services to help you. Please note that the IAB office will be closed over the Christmas period, from 4pm on 22nd December until we reopen on 2nd January.

If you have any queries in the meantime, please feel free to contact us at membership@iab.org.uk or call +44 (0)1732 897750. We wish you an enjoyable break.

Worthy winners recognised at IAB Awards

The House of Commons Terrace Pavilion was a fitting location for the IAB and IAAP International Business and Skills Awards 2017, hosted by IAB President Fabian Hamilton MP.

Samantha Nelmes FIAB was named Bookkeeper of the Year, a category sponsored by Lloyds Banking Group. The runner-up was Kim Deere FIAB.

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Time is running out to register your interest in joining the IAB Council

There is still time for you to register your interest in joining IAB Council. There is a supportive process in place for those considering taking on a role as a Council Member. You will be invited to attend a meeting with the Appointments Committee, where you will be able to quiz current members of Council and the IAB Executive about what it is like to be a Council member, as well as what the role entails.

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Autumn Budget 2017: some highlights

In a Budget statement he described as a “vision for Britain’s future”, Chancellor Philip Hammond opened his speech by pledging £3bn more for Brexit – so Britain was “prepared for every possible outcome”. To read more about the headlines from the budget please click on the read more link below. 

As a professional member you are also able to access the following Autumn Budget report, which you can use as a useful guide to keep up-to-date with the announcements and changes made. See https://www.iab.org.uk/2017-autumn-budget-report/

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New HMRC powers ‘could cause chaos’

A leading tax firm is warning that new HMRC powers could spell disaster for taxpayers. David Redfern, founder of DSR Tax Claims, was scathing about HMRC’s new powers to take additional tax revenue immediately from PAYE taxpayers where they have calculated that there has been an underpayment of tax by changing their tax code, rather than waiting until the end of the tax year to collect any underpayments. He said: “Although it is important that HMRC are able to collect the tax revenue that they are owed, these new powers have the capacity to throw the finances of hard-working taxpayers into chaos.”

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Auto enrolment: Key messages December 2017

Are your clients new employers? Don’t let them ignore the workplace pension. They risk a fine.

New employers need to assess their staff to see if they need to be put into a workplace pension. This is a legal requirement and they’ll risk a fine if they don’t meet their automatic enrolment duties on time. The Pensions Regulator has information and guidance on their website that can help.

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Auto-enrolment age limit may be lowered to 18

The government is considering lowering the age for auto-enrolment to 18, with the aim of encouraging thousands of 18 to 21-year-olds to save for a pension.

A reduction in the qualifying age from 22 is one of the most likely proposals to come from a review on auto-enrolment expected before Christmas from the Department for Work and Pensions. The review is also looking at whether auto-enrolment should be extended to the five million people who are self-employed and reformed to help people with multiple jobs.

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Nail that interview!

Simon Wicks of Butler Rose offers some top advice on getting through that all-important interview

Do your homework - Few things impress an interviewer more than someone who has done their research. This doesn’t mean just having a quick look at role description.

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IAB supports Micro Biz Matters Day

The IAB is once again throwing its support behind #MicroBizMattersDay. The event is a great way of recognising the ‘rocking’ things that micro businesses, their owners and staff achieve and the benefits they bring. It is a day to give recognition to the smallest businesses around you that benefit communities, regions and nations.

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Word from Sarah: Setting S.M.A.R.T. Goals for 2018

In her regular feature, Sarah Palmer tackles the issues that matter.

It's nearly 2018 and a time to reflect on what you have achieved in 2017 and take a look at where you want to be this time next year. I would recommend having a mixture of business and personal goals to give you a more holistic view. One of the techniques I use to help plan is S.M.A.R.T goals – specific, measurable, attainable, realistic, and timely. Using this system, you can develop goals that may take some hard work but will keep you accountable and won’t leave you feeling defeated.

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IAB Privileges: Get into the festive spirit Virgin Wines

Winner of the Online Drinks Retailer of the Year 2017, Virgin Wines are not about selling big name wines made in huge factories using mass produced techniques. Instead, they sell boutique quality wines produced by small independent winemakers who make their wine for love and not money.*

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International - Eurozone economy to grow at faster rate, says central bank

The European Central Bank (ECB) has lifted its economic growth forecasts as growth across the eurozone picks up.

It now expects the eurozone's economy to grow 2.4% this year, ahead of its previous guidance of 2.2%.

Read the full article on BBC News >
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