Essentially Local May-June 2017

Professional Services
Love local? Then head to the Bucks Festival
10am - 4pm Saturday, 3 June York House Centre, Stony Stratford
Organisers of the inaugural Bucks
Festival are on a mission to nurture
localism, sustainability and well-being,
starting in Stony Stratford.
As Bucks Festival will be on the
first day of Stony Live!, there will be
showcase performances from local
musicians, storytellers, eco workshops
and the screening of eco-films. You
will also find an array of local traders
selling their wares and there is no
charge for popping along.
Two more festivals are planned
after York House Centre, with the next
one taking place on 23 September
at Westbury Arts Centre in Shenley
Wood. Final plans for the third event
are also well underway.
Small Business Events is a notfor-profit
community organisation
based in Milton Keynes. Its aim is to
support and promote like-minded
sole-traders and independent small
businesses who embrace ecological
sustainability, localism and well-being
through their work.
For further information visit
www.smallbusinessevents.co.uk
or tweet @SBusinessEvents
Are you ready for the
increased National
Living Wage?
The National Living Wage for
employees rose on 1 April.
Rates are now:
• 25 years and over – £7.50 per hour
(up 30p)
• 21-24 year olds – £7.05
• 18-20 year old – £5.60
• under 18s – £4.05.
VAT Flat Rate Scheme changed
Small businesses that use the VAT Flat Rate Scheme should be aware of the
changes announced recently by the Government. Limited cost businesses
who spend little on goods or raw materials where VAT inclusive expenditure
forms only a small part of the turnover will be affected. The Flat Rate Scheme
simplifies the VAT calculations but the government thinks that some businesses
are using it to pay less VAT than is appropriate.
A limited cost trader is one that spends less than
• 2% of its sales on goods in an accounting period – this excludes services.
• £1,000 a year of the firm’s turnover on goods.
It will still be possible to use the Flat Rate Scheme but the VAT percentage to
pay will rise to 16.5%. Beware though, you cannot include purchases of capital
goods, food and drink (for staff), vehicles or parts for vehicles. Speak to your
accountant for more information as this is not as simple as it sounds!
Charges to employ
migrant workers
The government has confirmed that
it aims to reduce Britain’s reliance
on migrant workers through a new
skills charge. This is set at £1,000 per
employee per year with a reduced
rate of £364 for small organisations
and charities. It is believed that this
will reduce demand for migrant labour
and encourage employers to train
British employees to fill the roles.
There will be exemptions for PhD
level jobs and international students
switching from student visas to work
visas. The aim will be to keep talented
workers and students in the UK.
32
Please mention Essentially Local when responding to adverts