VAT Support Group is launched to help High Court enforcement businesses and creditors deal with the forthcoming Ministry of Justice (MoJ) guidance on charging VAT.

The MoJ has committed to publishing guidance which will change the way VAT is collected by High Court enforcement businesses. It’s thought that industry changes will be required to ensure compliance.

Just, the enforcement market integration business say’s the advice will be issued within the next few weeks.

The support groups, launched today are free to join and plan to keep everyone who may be affected by the changes up to date on progress, provide access to the guidance and offer advice and support with any process or programming needs.

They are free to join, and any advice or support given is also free. You can sign-up for a group by registering your details here:

Creditors & Litigation partners
https://www.just-dm.co.uk/vat-support-creditors-and-litigation-partners

High Court enforcement businesses
https://www.just-dm.co.uk/vat-support-high-court-enforcement-businesses

Commenting on the launch, Just Founder and Chairman Jamie Waller said: “We are pleased to receive confirmation from the MoJ that they will issue guidance on the correct application of VAT within the next few weeks. This matter has been left unresolved for six years, and I am pleased that we were able to bring it to a conclusion. We will now divert our energy and offer the industry the support needed to ensure compliance with the instructions we receive.

“We are offering this support to anyone that employs the services of High Court enforcement and to the High Court enforcement businesses themselves. As an integrator, our potential suppliers must implement the issued guidance swiftly and without delay to protect the reputations of the industry as a whole. As we have built our systems and processes with these changes in mind, we are perfectly positioned to help others make the changes necessary to deliver a safe service for all.”

Growth in average salaries for finance professionals within the UK charity sector dipped from 6 per cent in 2018 to 3.24 per cent in 2019.
At the same time, the rise in average earnings for women was almost double that for men, increasing by 4.08 per cent and 2.4 per cent respectively, according to the 2019 Charity Finance Salary & Benefits Survey Report published by Robertson Bell today.

The survey conducted by Robertson Bell, a leading provider of finance talent for the charity and wider not for profit sectors, analysed the results from over 1,000 respondents across the charity finance sector.

It found that while average salaries have continued to rise year on year, albeit at a slower pace than previously, those in senior roles saw the greatest increase over the last 12 months.

Finance professionals working for charities with an annual turnover of less than £10 million, saw the average salary for a permanent senior manager rise to £67,000 per annum compared to £44,000 for a mid-management position, and £31,000 for non-management postholders.

For those operating within mid-size charities, whose annual turnovers are between £10 million and £60 million, the difference in earnings between a senior executive and a non-management colleague is £89,000 for the former and £32,000 for the latter.

Within the UK’s largest charities that have a turnover exceeding the £60 million mark, the pay gap between senior executive and non-management professionals is at its sharpest.

A director, for instance can expect to earn on average £128,000 per annum, compared to a senior (£65,000), middle-management (£54,000) and non-managerial (£29,000) colleague within the same organisation.

Stuart Bell, CEO of Robertson Bell, commented on the last 12 months: “Despite the political and economic uncertainty that dominated 2019, employer hiring intentions remained strong within the charity and wider not for profit sector as a whole.

“One of the key findings of this survey is that 7 out of 10 [68 per cent] charity finance professionals admit to being open to new career opportunities. There are two things at play here.

“First is that competition for talent within the sector is higher than ever before, which is creating a greater array of career opportunities for people. And second, demand for talent – especially at senior and executive level – remains high but the availability of that talent is low, which in turn is pushing salaries upwards.

“Against this backdrop, it follows that finance professionals at all stages of their career recognise that the shortage of available skills means that employers will increase average earnings in a bid to attract the talent they need to fill the roles they have; hence, why so many people are open to a new move.”

Professional qualifications

The data highlighted the importance of professional qualifications and their relation to earnings. Accordingly, middle management post holders possessing a recognised accountancy qualification such as CIMA, CIPFA, ACCA or ACA, earn on average 15 per cent more. For their senior and executive colleagues, this rises to almost 20 per cent.

Regional variances

Location too has an influence on salary levels. London continues to offer higher renumeration than elsewhere in the country, with senior roles such as Finance Directors and Head of Management Accounts seeing an average salary increase of 9 per cent over the last 12 months. Meanwhile, the prospects for interim finance professionals remain highest in the capital.

Flexible working and gender

“There has been an interesting shift when it comes to flexible working within the sector too,” adds Stuart Bell. “Our data shows a widening in the salary gap between mid- and senior- level candidates who work both from home and the office (higher), and those that are purely office or purely home based (lower).

“This suggests that an increasing number of employers within the sector are embracing and even encouraging greater flexible working, and this may be playing a part in the rise in average earnings among women.

“Our analysis shows that women’s average earnings across the charity finance function have spiked by 4.08 per cent since 2018, whilst salaries for men rose by 2.4 per cent.”

Sector migration

The survey also found that the charity sector has seen an influx of senior finance professionals moving from commercial sector, with the finance function increasingly being organised along the same lines as those more commonly associated with a corporate entity both in terms of approach and attitude.

Matt Millar, Director at Robertson Bell, commented: “There has been a general trend of moving towards a ‘business partnering mentality’ across the finance function within charities.

“This, I believe, has been a catalyst for the significant increase in senior finance professionals opting to make the switch from commercial to not for profit employment over the last 12 months. I expect this will continue throughout 2020 and for the foreseeable future.”

“The bottom line is that employers need to attract and retain good people, and it is getting harder to do so. As such, salaries will rise in accordance with that demand and certain roles such as Financial Accountants and Financial Controllers, the increase is likely to be faster than for other roles within the charity finance remit.”

For business owners, managing your energy consumption is no longer just about keeping tabs on your outgoings – it’s a prerequisite for doing business. Consumer-facing companies that aren’t seen to be environmentally responsible face losing customers, while those further up the supply chain are now being asked by prospective clients to prove their green credentials.

Putting sustainability into practice should now be at the top of the agenda across every industry. Companies are becoming increasingly bold in how they communicate this to customers and stakeholders; at the end of January, The Guardian reinforced its commitment to reducing its carbon footprint by announcing a ban on advertising from fossil fuel firms.

For most business owners, however, it needn’t be that complicated. One of the simplest ways to reduce your impact on the planet and improve your bottom line is by switching to renewable energy and being smart with the energy you use. But how do we navigate the sea of information out there and find a solution that truly works for you and your company?

In this article, the experts at Opus Energy, one of the leading providers of renewable energy to businesses, gives 5 top tips on how to become more sustainable and save some money in the process. All of these can be scaled in a way that works for you – no matter what size your business is.

Start small

Implementing more sustainable practices into your business needn’t break the bank. In fact, there are plenty of small steps you can take that, when measured over time, end up going a long way. For example, did you know that turning the office heating down by 1°C you can reduce your annual heating bill by up to 8%? So, if your business spends £500 a month on energy, that small turn of the dial would save you £480 each year – the equivalent of one month’s energy.

Similar savings can be made across other aspects of your business. Take electricity costs for lighting as another example: leaving the lights on in the meeting room never seems like a big deal – but, by using motion sensitive lighting you could save enough energy to make up to 300 cups of tea. Likewise, using energy-efficient lighting can save businesses about £1,500 a year.

Another tip is to have a company-wide switch off policy. While it may seem trivial, leaving 50 computers on overnight for a year would create enough CO2 to fill a double decker bus – and cost your business £1.76 a day.

Company cars: Choose the right vehicle

While a lot has been said about leveraging the benefits of car-pooling and subscription-based mobility services, the use of cars for some companies is an unavoidable part of doing business. If your business offers company cars to your employees, it pays to ask yourself the right questions when deciding on what vehicles to go for. How long will your drivers be on the road for and what distances will they be covering? Will they be driving in city centres where Clean Air Zones are in place? And if they were to drive an electric vehicle (EV), would they have access to charging points along the way?

Taking all of this into consideration is key in saving money and reducing emissions, as it can make a huge difference in determining the correct type of vehicle necessary.

It’s also crucial that you look at the whole life costs when choosing a vehicle. It’s easy to focus on the headline sticker price – this is often the case when looking at EVs which in the past have carried a heftier price tag – but there are many other costs involved, from taxes and insurance to fuel and vehicle depreciation. So, when you add all of these up, you might find that switching to an EV fleet isn’t as expensive as you thought.

What’s more, EVs are becoming increasingly affordable, so there’s never been a better time to think of making the switch. They offer two solutions at once: reducing exhaust-related emissions and reducing the use of fossil-derived fuels. By switching your business-use vehicles, including fleet vehicles, to EVs, you can make a drastic cut your carbon footprint.

Use a smart meter

The UK Government estimates that installing energy efficiency measures could reduce the energy costs for SMEs by between 18% and 25%. One such example of this is the smart meter, which gives SME owners access to vast quantities of real-time data-related insights into how and where they use their energy. This transparency allows businesses to be smarter and more energy efficient, providing them with an easy way to be more sustainable.

Smart meters are also the backbone of the Smart Grid, which will play a significant role in the UK Government’s commitment to reducing carbon emissions to net-zero by 2050 by ensuring that supply and demand are always in balance. For companies looking to be proactive in their efforts to cut their carbon footprint and play their part, the smart meter is a savvy move.

Invest in renewables

If you’ve already switched your energy supply to a more environmentally friendly tariff or provider, why not look into generating your own renewable power? If you are able to, installing solar panels are a cost-effective way of ensuring the energy your office or building uses is completely renewable.

Making this switch to renewable energy can reduce not only your environmental impact but contribute towards the wider decarbonisation across the UK’s electricity network. It’s also a way for your business to diversify, by bringing in a new stream of revenue. If done right, it can be low effort, high impact and great for the environment.

Think long term

When it comes to saving money through sustainable practices, it’s crucial that we train ourselves to think long-term, rather than simply thinking about immediate gains. The change associated with moving towards sustainability can often be a deterrent for business owners, as there is a perception that these come at a large cost. But making small changes really can pay off in a big way, both for the environment and your bottom line.

Every business is different, but by taking inspiration from the tips above and combining this with your own research, you should be able to find ways that work for you and your budget.

The contact centre industry is rapidly changing thanks to technological innovations, changes in employee working habits and expanding customer expectations (such as quicker response and resolution times). These changes combined have made contact centre professionals have to restructure their centres, taking on new technologies in order to meet the new expectations set.  Below we’ll take a look at some of the technologies which are shaping the future of call centres.

Softphones

Statistics show that employees like working from home. It lowers stress, raises productivity and ultimately improves job satisfaction. However, not all jobs are suitable for working at home, so it is important that the right technologies are implemented to try to make it as doable as possible.

Employees can’t take their work phones home with them, so in place of desk phones, you can implement softphones (software phone). Often built into CRM or UC systems, softphones bring all the functionalities of a telephone onto a computer or mobile device, and offer a way for agents to have telephone services to hand without the need for hardware.

Artificial Intelligence

Contact Centres have already begun to be early adopters of Artificial Intelligence. AI is already used for performance monitoring and analytics, predicting customer needs and also for chatbots. Another interesting way AI will be used is for speech analytics – whereby, the AI can recognise the tone of the caller, then match the caller with an agent based on the agent’s personality and skill level.

Live Chat and Social Media

A study carried out by Call Center Helper found that 40% of managers want to implement live chat next, 22.5% want messaging apps 15% of Call Centre Managers want social media to be the next technology they implement into their call centre.

All these features enable real-time communication, with live chat being used on the company website, messaging apps (such as WhatsApp and Facebook Messenger) happening over mobile, and social media interactions occurring on both mobile and desktop.

All these platforms enable customers to create interactions with companies on platforms that they already frequently use, making it easy for them to begin their enquiry as they are already familiar with how their platforms work. This ultimately has a positive effect on the customer experience if the resolution as handled effectively.

Unified Communications

Nowadays, customers want to have their own choice of how they interact with businesses. And when they do interact with a business, they don’t have to have to repeat themselves or explain their issue when it comes to a follow-up. For example, a customer calling in after sending an email wants to be able to pick up where the email left off, not start the query from the beginning.

This is where Unified Communications solutions come in. UC tools are online platforms designed to integrate telephony, email, social media, chat and more communication methods into one, allowing the agent to quickly see the correspondence between that of the business and the customers.

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Next Read: 10 Tips to Motivate Call Centre Employees (Infographic)

With new European regulations set to be implemented in the New Year, anti-money-laundering specialists SmartSearch have produced a guide to the top five changes for businesses likely to be affected by the regulations:

1. Strict conditions for the issuing of e-money and prepaid cards
2. A clampdown on virtual currency bringing cryptocurrencies into scope for the first time
3. Registers of beneficial ownership to be made publicly accessible
4. Better access to information for Financial Intelligence Units (FIUs)
5. Increased due diligence for individuals and businesses in high-risk countries

The Fifth EU Money Laundering Directive (5MLD) is due to be transposed into domestic law by 10^th January 2020.

The Treasury has yet to produce final regulations for British businesses but the Directive sets out minimum requirements for Member States. The UK government has previously indicated that it will implement and enforce the new rules regardless of the country’s future relationship with the EU.

The Directive also specifically endorses the use of electronic ID verification, and states that it should be used wherever available.

Money-laundering regulations affect a wide range of businesses in the property sector including lenders, estate agents, brokers and conveyancers. The new Directive will further expand this to letting agents for high-value properties.

Failure to comply with the regulations can result in prosecution and heavy financial penalties.

Commenting on the launch of the guide, Martin Cheek, managing director of SmartSearch commented: “Although we’ve yet to see final details, the new money-laundering regulations are bound to have a serious impact for large numbers of firms in the UK and across the EU.

“We have called on the Government to publish the final rules without delay so businesses can prepare more effectively and ensure they are compliant. In the meantime, our ‘Top Five’ guide is aimed at giving them a bit of a helping hand.”

Full details of the guide can be found at https://www.smartsearch.com/resources/blog/5-amendments-of-5th-anti-money-laundering-directive