office brainstorming

Manage your Facebook payments with ease

Have you got Facebook payments nailed? If you’re making regular payments to Facebook for advertising then keep track of spend per campaign/customer will be key. Choosing the right payment method can make a big difference to keeping control and making sure no invoices fall through the cracks. Many will just opt for using PayPal on the Facebook Advertising Platform. Seems convenient enough? But whilst defaulting to PayPal may seem convenient at first, tracking and managing spending can become a real headache over time. With the FairFX Prepaid Corporate Mastercard® , you can give key members of your team a prepaid card […]

zurich center

“How relocating my business overseas transformed my profits”

Could moving your business to another country be the boost that it needs to succeed? It may sound like an extreme solution – but some start-ups are considering overseas relocation to help ensure their business’ survival. Neil Cocker, co-founder of RampTshirts.com, made the decision to move his business 1,400 miles from Cardiff to Sofia, Bulgaria. What may have been considered a risky move has paid off – by moving the operational centre to Bulgaria, Neil has grown his business, which provides custom t-shirts for teams or events, by 60%. The journey from Cardiff to Sofia started in January 2016, when […]

group meal

How to mix business and leisure and stay on the right side of HMRC

Once upon a time business trips were all about getting there and back again as soon as possible, but with technology and travel making it easier than ever before to explore the world, many are opting to mix business and leisure in a new pursuit some have dubbed ‘bleisure’. A study by Expedia Media Solutions found that 43% of all business trips, made both at home and abroad, were extended to include some kind of leisure activity, while one in three business travellers had taken a friend or partner along with them. Of course, few would pass up the opportunity […]

woman in airport lounge

Business travel: what expenses are allowed?

Travelling abroad for work often presents more challenges than business travel within the UK, but expenses shouldn’t be one of them. As a general rule, employees can claim for transport, subsistence and accommodation overseas just as they would at home, as long as they keep in mind HMRC’s ‘all or nothing rule’: to claim tax relief on business expenses they “must be incurred wholly, exclusively and necessarily in the performance of your duties”. Here’s what staff need to be wary of when travelling for work in and outside of the UK. Keep receipts Encourage staff to hold on to receipts […]

china market

Opportunities in Asia: The mission to keep creative industries thriving after Brexit

UK creativity will thrive after Brexit – that’s the determined stance of those working in the sector. The industry, which includes film and television, theatre, video games and fashion, is worth £84bn to the British economy. Many of these areas have relied heavily on EU funding and the freedom to move between countries but in light of the EU Referendum, work is underway to ensure the creative sector doesn’t suffer. The creative sector is one of five being prioritised by the government in its Industrial Strategy Green Paper in a bid to address the risks to long-term growth as the […]

people meeting

What does an EU divorce mean for small businesses?

It’s the beginning of a new era. Article 50 has been triggered. After much anticipation, Theresa May has started the divorce proceedings from the EU. The process of negotiating that separation will now begin in earnest. But despite some fears the pound would receive a further blow and fall against currencies around the world, it has maintained a steady footing. So, what happens to British SMEs now as they try to ‘keep calm and carry on’? Professor Vikas S. Shah, a member of the UK Industrial Development Advisory Board and an entrepreneur with 20 years’ experience in business, said there […]

woman in airport lounge

Keep your expenses form. I quit!

For two years, I was a frequent business traveller, flying around 800 miles a week. The company booked flights, hotels and parking on my behalf. I filled out an expenses form for smaller costs. It was all very easy. When the finance director went on maternity leave, an operations manager absorbed her role. It’s a family-run business and members of the senior staff often doubled up roles to fill the gaps, so a move like this wasn’t uncommon. Little did we know, an innocent, doubling-up exercise would make work really challenging.   One week, I was booked into different airport […]

airport plane

Can you claim compensation if your employee’s flight is delayed?

In August, research by the BBC revealed that air passengers using London Gatwick face the most flight delays in the UK. On average, passengers experienced delays of 18 minutes per flight. Consumer group Which? found that of one million flights, nearly half didn’t arrive on time, and more than 10,000 were delayed by more than three hours. If your employee is one of the unlucky passengers in limbo at the airport, can you claim for the inconvenience? FairFX spoke to Flight Delay Lawyer at Bott & Co Solicitors Kevin Clarke, and employment law specialist at Ramsdens Solicitors, Gareth Dando about […]

header narnia corporate party

How to throw an unforgettable corporate event

Tasked with the Christmas party? Solely responsible for boosting staff morale and building client relationships? It’s a familiar brief for HRs who are simultaneously encouraged to ooze generosity but ensure price per head is firmly under £150, (to avoid National Insurance charges obviously!) A good corporate event can kick start a new business relationship, lift team spirits and boost productivity in the weeks that follow your soiree.  As the Christmas party season jingles to life, FairFX spoke to star of Channel 4’s The Millionaire Party Planner, Liz Taylor – and  La Belle Assiette’s private dining expert, Millie Ashbee, about how […]

board meeting

The story of one financial director’s money-saving strategy

I told them: “It’s bad news, folks. Income fell hard and fast in the third quarter.” Sombrely, I traced along a plummeting red line with the light of a laser pointer. “We might be in some bother.” Fortunately, I’ve concocted a solution to our heavy-spending problem. “We’re going to take a harder-line with difficult clients. They’re leeching the life out of us with their ‘mates-rates’ and devil-may-care approach to payment. “We’re chasing late, inaccurate or unpaid invoices, and most of our clients say ‘the cheque’s in the post!’ We know it isn’t, they know it isn’t, but we go along […]

paying at the till

Because I’m worth it

You work hard, you deserve a little expenses perk every now and then. Accounts won’t notice, will they?   1. When you’re buying…   2. When the company’s buying…   3. You’re stuffed from dinner but you still have £10 left in your meal allowance…   4. You weren’t going to drink tonight – but the boss is buying…   5. Room service suddenly becomes reasonable…   6. You collect a receipt for absolutely everything…   7. You could walk…or expense a taxi…   8. You get a blank receipt from the taxi driver…   9. You upgrade your small […]

currency coins

WANTED: Employees caught with their fingers in the jar

Why would anyone pocket cash from an employer? You know you’re a fair boss. You make sure sick leave is paid, you make developing staff skills a priority, and after a hard week,  everyone has a beer in their hand on Friday at 4pm. You trust and respect your employees – you wouldn’t have hired them otherwise! – and you believe people (largely) aren’t opportunistic. However, even the most exemplary cashier, executive or CEO shoulders their own burden away from the workplace. They face impossible and pressurised situations that you know nothing about. Expenses fraud and theft at work is […]