Nobody likes paying tax, whether via their business or personally and the question of ‘How can we reduce our corporation tax bill?’ is one we are faced with almost daily. Sadly, the query tends to come when it is either too late to do anything i.e. they are looking at their completed accounts and therefore […]
Should you take your income as salary or dividends? The question of how to draw earnings from your business when you are an owner director is a perennial one, but in recent years, successive changes in government policy have made the answer slightly more nuanced.
How much you can claim for running your business from home has always been a hot topic for debate even before we all moved home to work! Historically, the options were simple. You either took an HMRC approved payment of a few pounds for ‘non-exclusive use of home as office’, along with any expenses that […]
The world of bookkeeping has changed significantly over the last few years, leading many to ask the question, how should I manage my bookkeeping?
How can I diversify my business is a common question asked by directors, shareholders and business owners for a range of different reasons. It may be the next step on the growth strategy or it may be about balancing risk and in the same way as there are a lot of drivers to diversification, there […]
In the first of a series of question led blog posts, we consider the sometimes-thorny subject of how to change your accountant. Whether its price, quality of work, changing requirements or the odd dispute that causes you to look at changing your accountant, the fact is business owners are now far more willing to move […]
State aid refers to money provided directly to the business from the public purse i.e. any regional, national or continental Governmental budget. Examples of this could be Government backed loans or EU grant funds.
But nearly one year in to the Covid crisis, the tables have been turned almost completely and there are few businesses that can say they have not been in receipt of one form of Government financial support or another.
It seems like a lifetime since the Chancellor first announced a package of support for individuals and businesses that were going to be impacted by the national lockdown back in March of this year. With an ever changing backdrop of restrictions, tiers, lockdowns, initiatives, grants and strategies designed to keep people safe and the economy […]
In this short series of blog posts, we are going to consider what is known to be or likely to be changing after the end of the Brexit transition period on 31st December 2020. Whilst a trade deal remains a possibility, it may not include all of the elements we will be featuring and even […]
As the Government continues to grapple with balancing the economy and the provision of further financial support, ‘unprecedented’ seems to have been replaced by ‘viable’ as the most frequently used buzz word – specifically when related to jobs and businesses. There is much talk about avoiding pumping more taxpayer cash into jobs or businesses that […]
HMRC has started contacting self-employed individuals they think could be eligible for the Self-Employment Income Support Scheme (SEISS), based on the information provided in 2018 to 2019 tax returns. To help identify who is eligible, HMRC is inviting people to use an online checker, which will quickly confirm eligibility and then provide a specific date […]
If you are self-employed and the Covid-19 pandemic has hit your income and/or contracts, here are 5 things you can do to access support and mitigate the impact: 1. Apply to the Self-employment Income Support Scheme (SEISS) The scheme will support self-employed individuals (including members of partnerships) whose income has been negatively impacted by COVID-19. […]