Making ourselves more efficient is something to strive for, especially in the workplace. Here are our top ten tips:

1. Set Weekly Targets – Start the week by deciding what you want to get done by Friday. Then set aside enough time to achieve your target and do not get distracted.
2. Work Less – By making a conscious decision to work fewer hours, it will force you to prioritise and make more use of the time you have.
3. De-Clutter – Not only does it help with keeping on top of the paperwork, it also helps with deciding what’s important and what’s not.
4. Make The Decision – Do not be afraid to make a decision and commit to it. Don’t wait for a perfect solution as there are few occasions where it cannot be reviewed and improved upon later.
5. Delegate – Taking on too much can be draining. Learn to break down jobs into tasks that can be delegated to others. Often they will do the task better than you can.
6. Look After Your Health – No one works well when they are over-stressed or tired so it is important to balance work with relaxation. Everyone is different so you have to find what is right for you.
7. Avoid Pointless Meetings – Everyone should know the purpose of a meeting so that they can be prepared and decisions made. Set a time for the meeting to end so that it comes to a decision and does not go on forever.
8. Be Prepared To Say No – There are only so many hours in a day so if it is not important or it is somebody else’s job then be prepared to say so.
9. Play Nicely – Sometimes it cannot be avoided but no one gains if there is friction with customers or suppliers or between employees. Driving a hard bargain is one thing but take it too far and it will only happen once.
10. Concentrate On What Motivates You – There are always jobs that you cannot avoid but if you focus on what you are really interested in then you are likely to achieve more.

In addition to filing their accounts, all limited companies have had to file an annual return with Companies House. This is being abolished and replaced by a “confirmation statement” confirming the registered office, directors, company secretary, shareholders, share capital, details of where records are kept and a new list of people with significant control (PSC).

Companies may make a confirmation statement at any time but must do so at least once every 12 months. The charge for online filing has yet to be announced.

In practice there will be little difference between the information which a company will have to provide under the confirmation statement and the information already provided in the annual return. The major change is the PSC report. In most cases this will be anyone holding more than 25% of the shares or the voting rights but consideration needs to be given to whether there is anyone else who has the right or actually exercises control over the decisions of the company.

From April 2016 there is a new personal savings allowance which means that basic rate taxpayers can receive of £1,000 of savings income free of any tax. This is reduced to £500 for higher rate taxpayers and nothing for additional rate taxpayers.

Some people wrongly believe that savings interest is now outside tax but this is incorrect. It needs to be included in total income as this could affect whether the taxpayer is liable to basic, higher or additional tax rates.

Banks will no longer have to deduct tax at source so some clients used to getting a refund of tax deducted at source may find that they now have tax to pay instead.

If you have any queries, please contact us.