Fifth round of the Self-Employment Income Support Scheme to launch in late July

Jun 23, 2021

  The fifth round of the Government’s Self-Employment Income Support Scheme (SEISS) will launch in late July, HM Revenue & Customs (HMRC) has confirmed. This round of the SEISS will differ from previous rounds as it will be paid at two different ...


Businesses can still access the Recovery Loan Scheme

Jun 23, 2021

  Businesses affected by Coronavirus can still access the Recovery Loan Scheme (RLS) launched in April, despite the closure of applications for other Government loan schemes, including the Coronavirus Business Interruption Loan Scheme (CBILS). The RLS opened for application on 6 April ...


Leaving your business in capable hands – Succession planning for the next generation

Jun 21, 2021

Many individuals who have spent their livelihoods building, running, and maintaining a successful business, often intend to pass on their accomplishments to a family member, close relative or trusted employee. The process of succession planning is one all businesses will eventually ...


Over half of Brits plan to shop with small and local businesses after pandemic, study reveals

Jun 17, 2021

Around half of Brits plan to spend their money with small and local businesses in the wake of the coronavirus pandemic, a major study has revealed. The research, published by British futurist Andrew Grill in collaboration with Vistaprint, suggests that the ...


What are the benefits of running a side business?

Jun 15, 2021

With the effects of the coronavirus pandemic leaving many people short on funding, some have turned to side businesses to provide them with extra funds to make up for their financial losses. Starting a side business while working full or even ...


OTS to consider “benefits and implications” of moving tax year end date

Jun 10, 2021

The Office for Tax Simplification (OTS) will explore whether there is a case for moving the UK’s tax year end date. Announcing the review, the office, which provides independent advice to HM Revenue & Customs (HMRC), suggests that aligning the tax ...


Workplace childcare vouchers – get the best out this scheme during COVID-19

Jun 07, 2021

As many employees began working from home during the height of the coronavirus pandemic, they used less paid childcare, as many before school clubs and nurseries were closed.  Therefore, employees who use the childcare voucher scheme will most likely have unspent ...

Business Closed COVID

New figures highlight success of coronavirus support schemes

Jun 04, 2021

Some 2.8 million people took advantage of the Self-Employment Income Support Scheme (SEISS) in the last year, the latest figures have revealed. The research, published by HM Treasury, provides an update on the success of the coronavirus support schemes and reflects ...

Accounting (3)

Register for Making Tax Digital for VAT or risk penalties, HMRC warns

May 28, 2021

Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned. It comes after HM Revenue & Customs (HMRC) wrote to 100,000 non-compliant businesses reminding them ...


Cash basis versus accruals basis

May 25, 2021

If you manage a business and record its expenses and revenue, you need to find a recording system that suits you. While cash basis accounting has its benefits, accrual accounting can be a more powerful tool for operating your business. ...


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