Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

Changes to paternity leave and the default retirement age have caused considerable concern for many businesses. The changes have arisen despite the promises by the coalition government to reduce red tape for business. Although companies with less than ten employees will be exempt from domestic regulation, the new changes will apply to all companies, with a greater impact on small business.

The default retirement age will be scrapped with effect from 6th April 2011. Changes to paternity leave will allow fathers of children born 3rd April 2011 or later to take any maternity leave not used by the mother, which could result in up to six months off work, receiving additional statutory paternity pay. According to an ongoing survey of 1300 businesses conducted by British Chambers of Commerce, 52 percent of the companies expect the changes to paternity leave to have a negative impact upon their business, with 34 percent expecting the impacts to be extreme. A fifth of the companies felt that removing the default retirement age would be harmful to their business.

The new paternity leave changes could make it more difficult to manage the workforce, with additional planning by businesses required. Employees wishing to work beyond the age of 65 could cause problems when managing performance, especially in manual jobs. Small businesses will especially feel the effects of these changes to legislation. Outsourcing to a small business accountancy will allow you to cope with any rise in demand for paternity leave. A low cost accountant could also help you to plan workforce changes if employees wish to work after the age of 65, allowing you to benefit from the experienced workforce.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

More posts by this author
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

June 2022 Client of the Month: Manea Kella

This month we spoke to Adrian Manea, architect and director at Manea Kella, a London based RIBA Chartered architecture and interior design…

Read More

Succession Planning for Business Owners: What Comes Next?

When you own a business, it’s extremely normal to feel like you’re surviving one day to the next – ‘winging it’, as…

Read More

The Accountancy Partnership – Our Positive Reviews

Here at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.