Monthly Archives: January 2017

5 Most Common Mistakes Made by SMEs

Starting a business of your own can be an incredibly fulfilling move for a keen entrepreneur with a bright idea. But sometimes the bread and butter of running your business can get buried under the responsibilities of navigating tax laws, understanding employment duties, and ensuring you are fulfilling all other legal requirements.

To avoid your SME’s accounts getting in a mess, take note of these five commonly-made mistakes. Continue reading

6 Easy Steps to an Eco-Friendly Office

There are many reasons to adopt a more environmentally-friendly approach to your workplace. If you’re cynical, gaining a moral edge on your competitors by broadcasting your green methods is just one.

More importantly, adopting less wasteful approaches in the office will help reduce your ecological footprint and can create a healthier, more productive working environment.

It can be done, and probably more easily than you think… Continue reading

Common car insurance myths unravelled

After results from a survey carried out by Swinton showed alarming gaps in car insurance policyholders’ knowledge, we at Independent Insurance Services decided to give clarity on common misconceptions around this essential cover:

MYTH: If you have comprehensive car insurance, you’re covered to drive anyone else’s car.
STATS: 33% believed this to be true and 14% didn’t know.
FACT: Depending on your age and driving experience you might be covered to drive someone else’s car, but this is not a given on all comprehensive insurance policies as it’s dependent on these factors. Even if you are covered, it’s only third party, so any damage to the car you’re driving won’t be covered. If you’re going to be driving someone else’s car extensively, it’s best to be put down as a named driver. Some insurance providers will allow you to put someone else on the policy for one day or one journey at no extra cost. Continue reading

Insurance Premium Tax (IPT) set to rise

CHANCELLOR PHILIP HAMMOND ANNOUNCES INSURANCE PREMIUM TAX (IPT) WILL RISE TO 12%

The UK’s Insurance Premium Tax (IPT) is due to rise by 2% to a new high of 12%, Chancellor of the Exchequer Phillip Hammond has announced in the Autumn Statement.

Taking effect from June 2017, this will represent the third increase in IPT in less than two years. In November 2015 it increased to 9.5%, and in October 2016 it increased to 10%. Continue reading

3 Financial Threats to SMEs

Problems in running your small business are just as likely to be financial as they are physical, and in the whirlwind of keeping customers happy, ensuring you’re trading effectively, and paying suppliers on time, there are things that fall by the wayside. But these areas you previously hadn’t paid much attention to can suddenly become problems you can no longer ignore. Continue reading

Possible changes to whiplash claims

WHIPLASH COMPENSATION CUTS COULD KNOCK £40 OFF CAR INSURANCE PREMIUMS

Over the past decade whiplash claims have risen by 50%, and cost insurers around £1 billion per year. Now millions of motorists could see their car insurance premiums reduced because of government plans to cut compensation for whiplash injuries.

Currently, the average pay-out for a whiplash claim – which is separate from medical bill or loss of earning pay-outs – is £1,850. The Ministry of Justice has suggested that the right to compensation for such claims could be scrapped completely, or capped at a maximum of £425. Continue reading