Monthly Archives: February 2017

The Apprenticeship Levy

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Drummond Laurie Chartered Accountantsapprenticehsip levyFrom 6th April 2017, all UK employers with annual salary bills of more than £3 million will pay an apprenticeship levy, it’s aim is to fund apprenticeships across the UK.

The levy is set at 0.5% of an employer’s annual wage bill and each employer will receive an allowance of £15,000 per year to offset against the levy. This means that although the levy applies to all employers, only employers with a wage bill over £3 million will pay it.

More information on this is available on the government website here

Here’s a couple of examples that help explain it clearly:

Employer A has 250 employees, each with a gross salary of £20,000. They would pay:

  • Pay bill: 250 x £20,000 = £5,000,000
  • Levy sum: 0.5% x £5,000,000 = £25,000
  • Allowance: £25,000 – £15,000 = £10,000 annual levy payment

Employer B has 100 employees, each with a gross salary of £20,000. They would pay:

  • Pay bill: 100 x £20,000 = £2,000,000
  • Levy sum: 0.5% x £2,000,000 = £10,000
  • Allowance: £10,000 – £15,000 = £0 annual levy payment

Employers who operate multiple payrolls will only be able to claim one allowance.

We can help, we run a fully managed payroll service, to find out more please email adviser@drummondlaurie.co.uk

Supporting Strathcarron

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Drummond Laurie Chartered AccountantsstrathcarronDrummond Laurie and  friends were delighted to be able to help support the Strathcarron day at Falkirk Football Club recently with a bucket collection that raised £1080.

Not only was the day a success for Falkirk Football Club it was also a fantastic day for some of the patients, families and staff at Strathcarron who enjoyed a day out at the football free of charge.

If you’d like to show your support of the Hospice and wear a Snowdrop for Strathcarron during February, visit any one of the shops or pop into our office to pick one up!ffc strathcarron

Raising Cash from within your Business

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Drummond Laurie Chartered AccountantsDL-ICON-SMALL-pound-60x60When most businesses seek to raise cash for their business their first instinct is to look to their bank or other lenders.  Alternatively, they may look to invest some of their personal funds into their business or to sell some assets to create liquidity.  However, in many instances there is a much simpler, easier and cheaper way to raise cash, namely effective working capital management.  Very often the cash is already on your balance sheet.  It is tied up in excessive stock holding.  It is owed to you by your customers who are exceeding your standard credit terms.  It is with your suppliers who demand payment from you before your own customers have paid you.  Small changes to your internal practices can give improvements in all of these areas and, in the process, create much needed liquidity for your business.  Please contact Drummond Laurie if you would like advice on how to improve your working capital management and release some of your own cash back into your business.Accountants In Fife

Improving farm profitability: taking bold steps!

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Drummond Laurie Chartered AccountantsAs you know Drummond Laurie  have a team of agricultural specialists who work closely with  farming clients, funders and other professionals to ensure that profitability is maximised.   The Royal Bank of Scotland & Falkirk Business Hub are hosting a breakfast seminar on ‘Improving farm profitability: taking bold steps!’. Whilst many elements of farming remain traditional, agriculture has also seen a variety of changes in recent years and with the impact of Brexit no doubt resulting in a changing future economy, how do you make farming profitable and create a business which can grow not just survive?

The seminar is on Thursday 16th of February from 8am until 9:30am at the Hub and you’ll be able to hear from both farmers who have developed alternative income streams and funding experts. To register for this event, please email or contact Hub directly via the contact details at the bottom of the invitation.  For more details on our services please contact Margaret Bunyan on 01324 441266 or email margaret.bunyan@drummondlaurie.co.uk.

farming rbs feb17

Our Clients & Us

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Drummond Laurie Chartered AccountantsWe always have a great Christmas break knowing that when we return in January it’s heads down for one of our busiest months.  Our goal is to make sure that our clients receive the best possible service.  To do this, we believe that outstanding client care, combined with the highest quality advice, should be the rule and not the exception.Drummond-Laurie182

Our clients are always our priority, read more about our approach here, it’s certainly not rocket science and don’t just take our word for it, here’s what a couple of our clients have said:

“We have worked with David Wheeler and his team for many years – they continue to provide an excellent mix of personal service with a high level of professionalism across the board.”client care2

“Ian and his team are always on hand to assist with any matters that crop up when running a family business. The service we have received has been excellent and I would be delighted to recommend them to my associates.”

To find out more and for an informal chat please contact Gillian Niven on 01324 441280 or email gillian.niven@drummondlaurie.co.uk

 

 

 

 

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