BUSINESS owners are being urged to be aware of new regulations which take effect this month.
Dave Forrester, who runs TaxAssist Accountants in Keighley, says several major changes are taking place.
Among them are the new National Living Wage and the overhaul of workplace pension schemes, under which business owners must automatically enrol eligible employees and contribute to the pot.
Mr Forrester said: "Small businesses are facing an unprecedented amount of new legislation, tax rules and increased responsibilities and many of the changes come into effect from this month.
"It is important local business owners reap the benefits and avoid the potential pitfalls and penalties.
"We're urging them to make a new financial year resolution to tackle the challenges and ensure they don't miss out on any tax breaks they're entitled to.
"The new financial year brings a number of challenges and opportunities for small businesses, in a highly competitive market and fragile economy."
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