Don't Fall Foul of the Phishers

What would you do if you received an email saying you were due a large tax rebate and should go to a link to claim it? If you are sensible you won't click on that link. You could have received one of a batch of phishing emails which will take you to a clone of the HMRC site. Once you are there, you'll have a request to give credit or debit card details. If you comply with that, your bank account will be emptied and your credit card maxed out.

HMRC doesn't use email to advise about rebates due, only snail mail. It will never ask for credit card details either. No matter how legitimate the email and the website look, they aren't the real thing.

Why Do the Phishers Do it?

How can it be worth the effort of copying a website and sending out these emails? Apparently the phishers have acquired thousands of email addresses. They just have to set them up as a group, type in the message once and press send. And when we all turn on our computers and get connected, they pop up in our inboxes, or perhaps in the spam folder if we are lucky.

Unfortunately there are always some gullible people who click on the link and comply with what they think are HMRC instructions. Then the dastardly phishers move fast to gather their funds and disappear.

What to do if you Get One

HMRC believes that the trend for trying to get easy money this way is growing, so we are all going to get more and more of these phishing emails and must be on our guard against them. The HMRC website requests that, if you receive such an email, you forward it to phishing@hmrc.gsi.gov.uk to assist in investigations to try to find the criminals behind them, recover fraudulently acquired cash and put a stop to their activities.

The site gives a list of email addresses that have been used for phishing, none of which are ever used by the revenue. It also mentions other methods used to con people out of their hard earned cash.

Some fraudsters make telephone calls claiming to be tax officers. They ask for bank details so that a tax refund can be made. Others send text messages asking you to call them. This is more difficult to recognise because HMRC officers do sometimes leave messages asking people to call them at their local office. Always check if the telephone number is correct before making the call.

Take precautions. Don't get caught out by the phishers.

The Benefits of Non-executive Directors

Do you have a non-executive director, or have you ever considered it? There are many benefits to be gained if you have the right one. A good non-executive director will take on many different roles as your business develops.

In your start-up phase an external director could bring experience of your marketplace and contacts from within it. He or she should offer guidance and open doors for you. The non-exec might even help with opportunities for business, taking part in meetings and presentations. Acting as a mentor to you and other senior members of your team, your non-executive will attend meetings, give opinions and advice, and support whatever decisions you make.

How to Find the Right Non-executive

Advertisements for non-execs usually find plenty of applicants with a mix of motives. Putting such positions on a CV is always helpful to the career of an ambitious go-getter. You could even find an aspiring non-exec who will not require a fee initially, but you would still need to be sure they could bring what you need to your board meetings. It might be more advantageous, and more profitable in the long run, to pick someone with experience of the role who would expect some remuneration, but be able to bring you more benefits.

Before you start to weed them out, decide exactly what you are looking for in terms of the relationship. Look at its duration, how often you will meet during that time and what you expect to get from it. When you interview them, make all this clear, and don't think of appointing anyone unless you are confident about what and who they know that can help you reach your business objectives. Be sure to discuss the financial aspects with your outsourced bookkeepers beforehand and be clear about what you can afford. Then you can have a maximum fee in mind and negotiate to no more than that.

Get the Most from the Relationship

Have an option of one-to-one meetings where you can review how things are going and speak frankly to one another. Regular debriefs can make sure you are both on the same wave length and neither of you are expecting too much of the other. The role of the non-exec should change along with your business development, and you both need to recognise the shifts and phases you need to go through. It's a good idea to have these discussions before each board meeting so that you can plan strategies and iron out any problems. Speaking with the same voice at your board meetings can save valuable time and be reassuring to other board members.

Remember the advantages of a non-executive director when you are considering how to grow your business.

Farewell Default Retirement Age

Do you have anyone over 65 on your payroll? October is the month when the Default Retirement Age (DRA) begins to be phased out. Unless you informed them of the date you intend them to retire before the 6^th of April this year, you can no longer force them out because they have reached the DRA. While they retain their right to retirement at 65 if they wish, you can no longer oblige them to do so.

Will the DRA be Good for Your Company?

Of course, many employers have been keeping workers on after that age for quite some time. Some have been happy to recruit more mature people because they perceive them to be more reliable and loyal than the younger generations. They have more work and life experience, so more knowledge of the world and how the markets operate. They are often more willing to keep going when things go wrong, and to persevere until they get it right. And statistics prove that overall they take fewer sick days, despite being of an age when you would expect them to have more health problems.

Having a balance of different age groups among a workforce is no bad thing, provided it has a healthy culture of respect flowing both ways between younger and older employees. Everyone should be valued for what they can bring to the party. While greater energy and enthusiasm for state of the art technology and other developments might come from a younger group, many of their older colleagues might have more staying power and more wisdom to see both advantages and disadvantages of proposals.

Will the Younger Generation Suffer?

Some people believe that the knock on effect will be significantly fewer jobs for young first time applicants, especially in the unskilled sectors. To some extent, this appears to be inevitable. However, young people without skills are hardly likely to be recruited into vacancies left by retirees who have acquired many skills over the years. There will still be areas where this type of young worker is needed.

A number of companies have introduced more flexible working hours to accommodate older workers who would like to continue in work but slow down a little. Part time positions are ideal for this and allow businesses to retain the skills and experience of their more mature staff, and still have vacancies for all ages of applicants.

What About the Financial Consequences?

Anyone over 65 that you have to let go must receive the statutory redundancy package. There may also be an effect on your ongoing payroll budget, so discuss it with your outsourced bookkeepers before you decide on your future HR strategy.