What you should consider when resigning a Company Director

Changes to a company’s management team and structure can happen for many reasons. Some common factors that may prompt such changes include strategic realignment, leadership succession, performance issues and market conditions.

These are just a few of the reasons why companies make changes to their management team and structure. Each situation is unique, and the specific drivers for change will depend on the business’ circumstances and goals. However when resigning directors there are a number of issues to consider before taking action.

Considerations when setting up an EMI scheme

Enterprise Management Initiative (EMI) schemes can be a great way of recruiting, retaining and incentivising key staff. Whilst offering employee share options is particularly popular with younger entrepreneurial companies, they can also be helpful for more established businesses.

EMI schemes offer very favourable tax treatment to employees through granting options to employees, which entitles them to acquire shares at a later date, by exercising their options. No income tax or NIC is payable at the time when the options are granted. Provided that the “exercise price” at which the employee can buy the shares is not less than their market value at the time when the options were granted, there is also no income tax or NIC charge when the options are exercised. This means there’s no income tax or NIC on the uplift in market value.

Considerations when setting up an EMI scheme

Enterprise Management Initiative (EMI) schemes can be a great way of recruiting, retaining and incentivising key staff. Whilst offering employee share options is particularly popular with younger entrepreneurial companies, they can also be helpful for more established businesses.

EMI schemes offer very favourable tax treatment to employees through granting options to employees, which entitles them to acquire shares at a later date, by exercising their options. No income tax or NIC is payable at the time when the options are granted. Provided that the “exercise price” at which the employee can buy the shares is not less than their market value at the time when the options were granted, there is also no income tax or NIC charge when the options are exercised. This means there’s no income tax or NIC on the uplift in market value.

What are KPIs and why should they be important to my organisation?

Monitoring business performance is crucial to the success of any organisation, and Key Performance Indicators (KPIs) are powerful tools for measuring progress towards business goals.

KPIs help organisations to focus on the metrics that matter most, identify areas for improvement, and make data-driven decisions. In this blog, we will highlight the benefits of using KPIs to monitor business performance.

Payroll Management: Why is compliance and accuracy important?

In the ever-evolving world of business, payroll management plays a crucial role in maintaining employee satisfaction and adhering to legal requirements.

At Carpenter Box, we understand the challenges faced by businesses when it comes to implementing effective payroll schemes. In this blog post, we will explore a scenario where our expertise in payroll management came into play, helping a client navigate two distinct payroll schemes while ensuring compliance and accuracy.

The pros and cons of being a charity

Many charitable causes start off being organised and run by a small informal group, such as within a family or community, with no formal structure.

However, as things grow, or there is a desire to apply for public grants or other funding, a more formal vehicle for the good cause may need to be considered. There are lots of things to think about when setting up a new entity. In this blog we have considered the pros and cons of setting up as a charity.

The Charities Act 2022: what you need to know

The Charities Act 2022 is finally rolling out its changes, and the results are promising for charity trustees. 

This legislation promises to simplify and empower trustees in managing their charitable organisations. However, the road to implementation has been phased, with the first wave of changes taking effect in October 2022 and the second wave arrived on June 14, 2023.

In this blog post, we delve into the latest June changes, which include measures that ease restrictions on small endowment spending, streamline land disposal processes, and reinforce the Charity Commission’s role in regulating charity names.

Understanding the 2023 Annual Return for Charities

The Charity Commission has taken a significant step forward in enhancing transparency and accountability within the charitable sector with the launch of the 2023 Annual Return.

This crucial document is now readily accessible through the My Charity Commission Account service platform. The 2023 Annual Return represents a significant step toward greater transparency and accountability within the charitable sector. Embracing these changes will not only help your charity fulfil its legal obligations but also contribute to a more informed and responsible charitable landscape.

September 100-year Fundraising 

To celebrate our centenary, every department within Carpenter Box has been allocated a specific month to organise activities aimed at fundraising for the Carpenter Box Charitable Foundation

In September, it was the turn of the Sustainability Working Group, a driven and passionate community that highlights our dedication to making a positive impact on the world. Our commitment to sustainability has been a cornerstone of our journey, and our Sustainability Working Group is at the forefront of these efforts.