Finding the right balance: main theme of Financial Update, summer 2019

Several articles in the press over last few months have highlighted the impact of the ongoing uncertainly around Brexit not only on businesses, but also individuals. Alongside the daily stresses of work and family, we’ve all had to contend with the rollercoaster of deadlines and votes, whatever our feelings on the outcome.

Finding a balance of well-being across different areas – personal, financial and in business – is a theme that runs through the summer edition of our newsletter.

On the personal front, while some will be pleased with the increase in personal allowance in this new tax year, employees will also notice a drop in the money in their pocket due to the auto-enrolment pension contributions increase which came in from April. The long-term benefit of saving more for retirement isn’t always straightforward to reconcile with immediate needs.

Financial well-being has been repeatedly highlighted as area of worry for many employees, which can affect them and their employers. The feature story in our newsletter looks at ways in which employers may be able to help improve employees work-life balance. ‘Flexing your business’ considers how the concept of flexible working is now extending to other benefits for employees – from flexible payment structures, the opportunity to trade holidays for increased salary (or vice versa) or control over their working hours which could be over a monthly or even annualised cycle. The ‘one size fits all’ solution is no longer the only approach.

The balance and well-being theme, both personally and professionally, continues across some of our other articles:

• Safeguarding against fraud – Cases of fraud remain high, so we suggest ways to make sure your business isn’t leaving windows open to allow staff or associates to steal.
• Caught in the high income child tax benefit trap? – If either of a couple earns over £50,000, they must pay back a portion of their child benefit payment, and it’s up to individuals to arrange this or face a fine.

The times are certainly uncertain, but there are ways in which the areas that are within our control can be brought more into balance.