The vast majority will agree that kids benefit from having parents around, particularly in their early years. However, with regards to equal parental leave, proof shows fathers might be failing to do so. Moms in the UK can move 37 weeks of parental leave to their spouses. However, they lose this from their own rights meaning the two parents can’t take it together. Now, it becomes a problem.
Equal parental leave helps both parents to bond together with their children and raise them in an ideal way. That is why it’s essential to offer six months of paid parental leave, regardless of somebody’s gender, sexuality or whether they’ve adopted or given birth, to make the policy outstanding in the UK.
How did John Lewis do their part in achieving the goal?
The John Lewis Partnership (JLP) has started offering the same level of parental leave to the workers. It is the most recent British business, and the top retailer to do so.
This company will offer the entirety of its 80,000 labour force a half year’s paid parental leave, in a move invited by equality campaigners who contended the UK government’s present shared poorly crafted parental leave policy.
Dame Sharon White (Chair of the John Lewis Partnership), “We want to be there for our partners to support them in important life moments, whether that’s stepping into the world of work for the first time, or becoming a parent,”
Beginning from this Autumn, newly become parents who have worked with the organisation for over a year will get 26 weeks paid leave, with the initial 14 weeks at full salary and the following 12 at half pay.
Adrienne Burgess (Joint chief executive of the Fatherhood Institute) said: “It’s great to see John Lewis joining the ranks of top employers giving each new mother and father individual entitlement to well-paid leave for parenting. Top employers like John Lewis are leapfrogging the government’s failing shared parental leave system to give families what they really want and need.”
What can small businesses do?
Employees should enjoy coming to work every day and not be too worried over their responsibility or deadlines they need to meet.
We firmly believe that an equivalent paternity leave strategy will permit them to feel satisfied and ensure they positively deal with the physical and mental health of both themselves and their families. It helps in enhancing work-life balance and improves the productivity of your employees.
Time given to work is just about as significant as the time given to family, which is the reason we need the dads and moms to have the chance to bond and invest satisfactory energy with the kids, particularly when they are babies.
Accomplishing gender balance
In order to achieve gender equality, we should initially allow and uphold men to co-parent and offer childcare duty. A study done by Jobbio shows that 84% of new dads accept there isn’t sufficient training around paternity leave while just 49% of fathers took their assigned paternity leave in 2017.
Offering equivalent parental leave to all parents permits to get better gender equality in the work environment while additionally helping make it the standard for fathers and mothers to get a more dynamic part in their child’s lives. Moreover, it additionally permits moms to be liberated from that traditional job and stereotype within the society.
Firms must make sure that their workers are aware of their benefits and know that leveraging these benefits won’t hurt their career growth inside the firm. Employers must talk about the leaves to bond with new children and guarantee they have all the help they need while doing as such.
Zyla Accountants feels immensely proud to offer equal parental leave to both parents. We understand the availability of both parents in a newborn’s life.
For more information, contact us at:
+44 7535 6176 81
Also read: Zyla Accountants partnered with Fluidly
We’re excited to be partnering with Fluidly to help you obtain the business funding you need. Zyla Accountants and Fluidly will work together and help organisations of all shapes and sizes with one objective: to help entrepreneurs take responsibility for their financial future to stress less and work better.
We will help make cash flow forecasting less complex and work with organizations to get the cash they need. We will pair you with the UK’s top lenders to get you pre-qualified funding grants in merely 30 seconds.
What is Fluidly and how cash flow forecasting helps businesses?
Fluidly is a multi-award-winning firm established in 2017 by businessman Caroline Plumb OBE, who wanted to give a solution for an issue all entrepreneurs know well: cash flow management. From being named Xero’s application of the year to various listings in the FinTech 50. Fluidly has been granted a £5m BCR award for their innovation, and have raised over £12m investment.
Fluidly has partnered with 500+ accounting firms (including top 100 practices) and over 30,000 companies to help make cash flow forecasting more manageable.
They help you manage the money in business with comfort, so you can easily understand your cash position and get access to the finance you require instantly.
Why is cash flow forecasting important?
Cashflow management is an integral function for sustaining a business. However, in the middle of the daily work of maintaining a smooth business workflow, your cash circumstance can go ignored, particularly when you’re feeling an overload of work. In tough times, key regions which can cause cash to plunge include:
- Late payments
- less demand of your product or services
- The fluctuating expense of materials
- Bad tax planning
- An excess of stock
You can utilise a cash flow forecast to anticipate when your business could run out of cash; so you can decide in advance, such as reducing expenses or applying for a loan. A forecast permits you to make the right decisions at the right time and ensure the cash you are supposed to get and payout within the specific time period.
How this partnership benefits the end client?
Zyla Accountants put stock in delivering reliable and personalised accounting & bookkeeping services that positively affect your business. They’re not only here to ensure you’re fulfilling your accounting deadlines – they likewise assist you with working your funds in a more proficient manner, so you can develop your business certainly and sustainably. The flexible and modern accounting approach makes Zyla Accountants a dream to work with. They approach each accounting task in detail and expect to answer all queries within 24 hours, so your work never stops.
Whether you’re searching for invoice finance or a government-backed Recovery Loan, Fluidly and Zyla’s specialists will work alongside you to ensure you receive the finance you lack at the right time for your business.
Fluidly has a goal to help companies work better by eliminating their cash flow stresses, and this partnership will give thousands of organisations access to the right funding to help them thrive.
Finding the right accountant, no less than a running joke in the small business domain. Why so??
Well, the major reason is that now it isn’t just about finding an Accountant who can take care of your day-to-day data processing needs. Instead, businesses need an accountant who is a jack-of-all-trades. But is it really possible without being a master of none? Maybe!!
Accounting softwares have made it quite possible for accountants to take over a wide range of roles. However, when business owners step into the market in search of Accountants that are both good with numbers as well as tech-savvy, it isn’t easy. What’s even more troubling is a dilemma of accolades that makes an Accountant the right choice for a business.
With over 2,000,000 users and being a primary accounting solution for over 16,000 accounting firms, Xero has made choosing an accountant easy. Our Xero Gold partner status has made it even easier!!
Experience, expertise & excellence, shining brightly like stars studded on our Xero Gold Partner badge. Let’s tell you more about what we’ve achieved and what benefits this achievement brings for your business.
What does it mean to be a Xero Gold Partner?
Xero is cloud-based accounting software that businesses all around the world are in awe with. The extensive list of features that Xero offers has made Accounting on the cloud so much fun. Connecting people, sharing files on highly encrypted servers and ease of accessibility are a few features that have made Accountants switch over to Xero. But how do business owners know if an accountant/ accounting firm really knows their way around maintaining and managing Xero software?
‘The Partner system is designed to recognise advisors who scale within Xero’s network, and it’s there to help small and medium-sized businesses to better identify and connect with the advisor that suits their needs. Xero Gold Status is an achievement that reflects our level of experience with our customers using Xero.’
Initially starting with a Xero partner status when we and our clients use Xero products, we receive points that help us increase our partner status. Basically, now we can flaunt our Xero Gold Partner badge to showcase our expertise and hands-on experience with our clients using Xero.
While Platinum Partner status is the highest, we are already Xero Gold Partner now with just one more star left to be added.
How our Xero Gold Partner status benefits you?
The Gold Partner status isn’t awarded to just one accountant, it is a collective achievement that defines the capabilities of Zyla as a firm. It means that all the members of our firm are at par with one another when it comes to handling Accounting using Xero software. By leveraging the powers of Xero, we can help small to mid-level businesses sort their finances, thereby making their business more profitable.
Our Accounting knowledge combined with our level of Xero expertise allows us to gather in-depth knowledge of your business, allowing you to dedicate resources on growing your business. We can take care of a wide range of accounting needs like payroll, bookkeeping, and other man-power intensive tasks while you are focused on handling your core business competencies.
From setting up Xero to advising you what will work best for your business (including setting up Xero add-ons), we know it all!!
We can also train your in-house team and offer support as and when needed. Moreover, we can flaunt our Gold badge to get you subscription discounts as well. You can consider us as the Xero search engine that has answers to all your queries.
As Accountants, we realise that we aren’t just data processors but in a way for your business growth as well. And with our tech-savvy Accounting model, we bring a solid business model to take your business to the next level of growth
Want to get started with Xero? Need help setting up your Accounting processes in the Xero cloud? Get in touch with our experts to see how we can unlock your business’s potential.
Wow what a reaction to last week’s blog, some great and some interesting feedback – I do like the name ‘the mysterious Scottish CA’ but I promised Suzy and Latha this wouldn’t be about me. Over the course of the next couple of weeks what I said I would write about for them is the various different softwares that they use to make their cloud based firm so accessible for someone joining them, even from 400 miles away.
This week I thought I would focus on ‘Slack’ which was the one I was most interested in starting with them. As David Menzies commented ‘great to see collaborative working’ and this epitomizes what Slack is all about. At Zyla, Slack is used as the internal collaboration and communication tool between all of us here at Zyla.
Every client has a channel set up, every software and topic as well as key subjects all have individual channels set up to allow both communication and tracking of progress on work. When I’ve finished a bit of work, and want to send it to Suzy or Latha for review, I message them via Slack, and include a link to the Google Drive where the work is stored thus creating a to do task for the them, as well as making it as easy as possible for the person who is reviewing it. Not only that – it keeps your inbox clearer and lets be honest, who doesn’t want their email inbox clearer!
As well as using it for internal workings above, they have taken it one step further and created an online community and help hub for their clients through a second community. I should mention at this stage that a community is essentially a hub where you login into to see what communications you have access to. So for all of their clients, there is a one stop shop for updates and information – which has been greatly received by clients during this current pandemic. With emails there is always a chance a spam filter will not like a word in the email and send something to junk, and by using Slack, clients know this won’t happen and get notifications when updates are shared. And what’s even better – clients can share their experiences through here without concerns.
All that leaves me to say is are you getting this service from your current accountant, and if not, would you love to be part of the Zyla Community? If so, drop us an email at [email protected] and let us introduce you to Slack.
We first started Zyla Accountants by working from home, coffee shops and meeting clients at their offices. As our client base has grown we have seen the value in joining a co-working space so that we have a place to meet our clients and to be involved in the co-working community.
We started our co-working journey at wework in Hammersmith and Brook Green but soon moved as we did not find a sense of community and the beer on tap was not a deal breaker for us. The idea of wework is great but unfortunately the execution of wework doesn’t quite match.
Next we moved East to Plexal City in the Olympic Park and we loved it there! The layout of the workspace itself is what drew us so far East and being surrounded by innovative tech startups was a perfect mix for us. In the end we decided to move because the commute become too long for us as we live closer to West London.
This brings us to our first private office at The Workary Avonmore as part of Wimbletech, who have transformed under-utilised library + public space in partnership with local Councils to ‘make it possible for entrepreneurs to live good lives, to grow their businesses within spaces that they love, around people they care about, whilst contributing and giving back to their local community.’ We are proud to have moved into our first private office as we expand the team and we love the community environment at The Workary. We also feel that we are far more productive and focused having our own private space.
Key points for us when picking a co-working space have been:
- Environment / productivity
As always, there are tax implications to consider when switching to a co-working space.
The tax implications of a work space depend on the amount of time spent there and also the duration, for limited companies the questions to consider:
Are you going to spend more than 40% of your time there?
Are you going to be going there for more than 2 years?
If both of these conditions are met then this constitutes ‘ordinary commuting’ and your travel and associated costs ie food & drink expenses are not tax deductible.
1) Working from home
Obviously you will have no travel costs and the expense of working from home can be tax deducitble. As a sole trader you’re allowed to take a proportion of all your home running costs prorated for number of rooms used for business and numbers of days worked from home. Or alternatively you can claim a flat rate allowance per month for your light, heat and power. The flat rate allowance is set by HMRC and depends how many hours you work from home each month:
- 25-50 hours: £10 per month
- 51-100 hours: £18 per month
- 101 hours or more: £26 per month
As a director of a limited company you cannot claim any fixed costs and the HMRC flat rate allowance for use of home is £4 per week.
2) Working & meeting clients at coffee shops
This will be deemed a temporary workplace therefore expenses are tax deductible.
3) Hot desk at a co-working space
If you use a co-working space occasionally and pay a daily rate every time you do so, this will still be classed as temporary. For a limited company if you only spend roughly 2 days a week there and do not plan to be there for more than 2 years, expenses are tax deductible.
4) Fixed desk / private office at a co-working space
As your usage of the co-working space becomes more permanent your travel and food expenses may not be tax deductible. As a sole trader if you’re working there on a regular and predictable basis, you can’t claim back the associated travel costs. For a limited company if the company directors and employees in question expect to be at the space for two years and spend at least 40% of their time there, you can’t claim back the associated travel costs.
If you need any further guidance on your current workplace situation and travel expenses get in touch [email protected]
Suzy Kerton is the co founder of Zyla Accountants
Suzy qualified as a Chartered Accountant with the Institute of Chartered Accountants of Scotland (ICAS) at Baker Tilly. Shortly after achieving her accreditation, she completed an international secondment to Baker Tilly Argentina.
Having since completed an MBA with Imperial College Business School and an exchange at ESAN in Peru, Suzy has acquired in-depth experience in financial accounts and R&D schemes, as well as the CFO of a start-up. She is passionate about making accounting understandable for all businesses, regardless of their size, setup or location.
Suzy’s role as CEO ensures she can focus on growing Zyla Accountants client base whilst ensuring operational efficiency and good use of new accounting technologies within the firm.