This month, there are a few different news items which are of interest to small business owners. Take a look below. Grant from local authorities (Local Restrictions Support Grant) If you own a business with rateable premises on which you pay business rates, you may be eligible for a grant from your local authority if … Read More
Brexit and VAT – what are the changes from 1 January 2021?
You may be wondering what changes, if any, might affect you from 1 January 2021. If you provide consultancy services, there is little to no change, and just the first few paragraphs here will be relevant. Here is a summary of the main points. Services Services provided to businesses or individuals outside the UK If … Read More
How can I get the best deal on Professional Indemnity Insurance?
Professional Indemnity Insurance (PII) is essential for protecting you against the cost of legal actions for negligence. However, PII is becoming an increasingly higher cost for businesses. Why is PII so costly? Over the past few years, the insurance industry has suffered huge losses due to the Grenfell tragedy and as a result of FCA … Read More
Coronavirus Update – UK Government financial support October 2020
Financial and other help from the Government: Update October 2020 There have been a number of recent updates on financial and other help available from the Government due to Covid, so we thought it might be useful to provide you with a summary of the things that could be important to you. You may already … Read More
Coronavirus Job Retention Scheme Closes on 10th June
If you have stopped working due to the Coronavirus, and you paid yourself salary in 2019/20, you may wish to consider furloughing yourself and claiming a grant from HMRC under the Job Retention Scheme. The scheme is available to directors and employees. You must not carry out any work for the company whilst on furlough … Read More
Coronavirus UK Government financial support – update
Here is the latest detailed update from our accountants regarding the Government support packages that are available to anyone whose work or business is affected by coronavirus. The information is based on our current understanding of the guidance issued, which seems to be changing daily! If additional facts come to light or are published which … Read More
Coronavirus UK Government financial support – what is available?
Here is our next update on financial help available from the Government during the time of coronavirus. The following is our understanding of the various schemes available, based on the information published to date. It should not be relied on for advice at this stage but is intended to give an indication of how they … Read More
Filing your tax return for 2018-2019
On 26th March the government announced a package of support for self-employed workers in the UK whose businesses are affected by the lockdown imposed as a result of the coronavirus pandemic. The package offers a taxable grant worth 80% of trading profits up to a maximum of £2,500 per month for the next 3 months, … Read More
What is the COVID-19 Self-Employment Income Support Scheme?
Source: HMRC The Self-employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) who have lost income due to coronavirus (COVID-19). This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This may … Read More
What is the Coronavirus Job Retention Scheme?
Source: HMRC The Coronavirus Job Retention Scheme is a temporary scheme open to all UK employers for at least three months starting from 1 March 2020. We expect the scheme to be up and running by the end of April. It is designed to support employers whose operations have been severely affected by coronavirus (COVID-19). … Read More