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We've scoured the web to get you the most up-to-date advice which includes the most useful tools on offer from the officials themselves.

Effective tax planning is essential if you are to minimise your tax bills. Simple tax planning can significantly reduce your tax liabilities.

The self-assessment tax return is an unavoidable burden if you are liable for self-employed tax or have complicated income tax affairs.

Corporation tax is charged on a company's profits. If you trade as a limited company, ensure that paying this tax is as painless as possible.

National Insurance Contributions (NICs) are payable whether you are self-employed or employed by your own company, although different rates apply.

As well as your legal obligations, you’ll want to ensure that payroll is painless and that you use any opportunities to improve your tax-efficiency.

VAT

Effective VAT planning aims to ensure that VAT is relatively painless, and that you are reclaiming as much as possible of the VAT you pay.

Capital gains are made when you sell something for more money than you paid for it. As a result, you can be subject to tax. Take professional advice.

Business property taxes apply to businesses with commercial premises.There are two commercial property taxes: business rates and stamp duty land tax.

If you have tax problems or face a tax investigation, it pays to seek professional advice and you must act rather than just hoping for the best.

Why are so many new employees "no shows" on day one?

1 October 2024

More than a quarter of UK employers who have tried to fill vacancies in the past 12 months have had new starters fail to turn up on their first day at work, according to the results of a new survey.

Recruitment difficulties are more widespread than ever for UK employers, according to a poll of over 1,000 HR professionals by the Chartered Institute of Personnel and Development (CIPD) and Omni RMS.

The findings reveal that more than a quarter of UK employers (27%) who have attempted to fill vacancies in the past 12 months have had new starters fail to turn up on their first day at work, commonly referred to as being "ghosted".

The results also show that 41% of employers who recruited candidates in the past year have experienced new employees resigning within the first 12 weeks of work.

"Ghosting is a huge concern for business continuity and growth. We've steadily seen an increase in this behaviour as poor experience or lack of communication post offer creates increased dropout. With such high demand for the best candidates, a growing number are being countered and have multiple job offers, before they've started in a new role." Louise Shaw, managing director at Omni RMS.

In response, the CIPD and Omni RMS are calling on employers to keep candidates engaged throughout the recruitment process, to ensure they're committed to the role and have realistic expectations. The report also highlights the importance of investing in effective onboarding for employees, to give clarity and support to new recruits as they adapt to the organisation and their new roles.

Recruitment challenges persist

This latest research comes in the wider context of a competitive labour market, where many employers report that it has been more difficult to recruit and retain talent over the past year. According to the research:

  • 64% of those who attempted to recruit over the past year experienced difficulties attracting candidates.
  • 56% said that it has been more difficult to retain talent over the last year.
  • 69% of all employers say competition for well-qualified talent has increased over the past year.

Employers have been looking at ways to attract candidates. Increasing flexible working opportunities (35%) and ensuring a competitive pay and benefits package (34%) are the most common actions taken in the past year to aid recruitment.

Commenting on the findings, Claire McCartney, CIPD policy and practice manager, said: "Engaging and retaining employees begins before new starters even walk through the door. During the recruitment process, employers should keep communication open with candidates, being clear on the purpose and values of their organisation, as well as benefits such as flexible working. It's important to make sure prospective employees are committed to the role and know what to expect when joining a new organisation.

"Supportive and informative inductions can also help new starters to connect with an organisation and perform at their best. By investing in effective onboarding, employers can improve overall retention and are more likely to reap long-term benefits."

Written by Rachel Miller.

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