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The Accountants for Growth

Further support Chancellors’ Winter Economy Plan

Accounts Payroll Small Business Tips Latest News
Further support Chancellors’ Winter Economy Plan
The Chancellor has been under pressure to help businesses more and has now announced further support.
 
A new Job Support Scheme (JSS)
From 1st November 2020 for 6 months the government will top up wages for those employees working shorter hours than their ‘normal hours’ for businesses facing lower demand due to COVID-19.
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How to turn annual losses of £142k into a monthly profit in 6 months

Accounts Small Business Tips Latest News
How to turn annual losses of £142k into a monthly profit in 6 months
This is a story about how i helped to turn a sizeable loss making company into a profitable position in six months Owners of many SME businesses feel that they do not have time of the knowledge to work on their financial numbers but that need not be the case. In this article you will learn how we helped turn the results around of a loss making business in a matter of six months and with absolute certainty you could improve your results by following this case study example.

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Chancellor Rishi Sunak announcement - statement in the House of Commons

Tax VAT Small Business Tips Latest News
Chancellor Rishi Sunak announcement - statement in the House of Commons
- job support scheme
- self-employed grant scheme extension.
- repay bounce back loans over a period of up to 10 years
- keep VAT at 5% for hospitality and tourism industry until 31 March 2021.

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England Local Lockdown Business Grant

Accounts Small Business Tips Latest News
England Local Lockdown Business Grant
What is the Objective?
  • To support businesses, based in a high Covid-19 incidence area, forced to close as a result of a Government decision. 

What is the level of support? 
  • Large businesses will receive £1,500 per property for every 3 week period of lockdown.
  • Small businesses will receive £1,000 per property for every 3 week period of lockdown.

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Property Review Service

Latest News
Property Review Service

Watch out if selling residential property
 

Thinking of selling a residential property?
 
A number of new rules could see an increase in tax burden for many, early payment of tax
for some, and extra red tape in the form of a new Tax Return purely for the property sale.
Significant red tape and costs
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Tap into grant support for business owners seeking to access specialist services

Accounts Small Business Tips Latest News
Tap into grant support for business owners seeking to access specialist services
Information on Government grant support for the wider business community in England Learn how to access Government grant funding which has recently been made available to support businesses looking to buy certain equipment or access specialist support to help them through the COVID crisis.
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Self employed income support scheme - Grant 2 of 2

Small Business Tips Latest News
Self employed income support scheme - Grant 2 of 2
Many of you will be aware that the first self-employed grant closed on 13 July, however a second and final grant is available and will open for applications on Monday 17th August 2020 and will close on Monday 19th October 2020
 
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Grant business support for Birmingham based small and micro businesses

Small Business Tips Latest News
Grant business support for Birmingham based small and micro businesses
Details of Birmingham City Council Discretionary Grant - Round 2 Whilst the Government have provided substantial support for businesses throughout the Coronavirus crisis some businesses have fallen through the net and in this blog we explain how those who have not been able to access support to date may now be able to do so.
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Job Retention Scheme Bonus

Small Business Tips Latest News
Job Retention Scheme Bonus

Employer Update



What does the emp[oyer receive?
  • £1,000 from the Government for each eligible employee
  • The claim can be made through the Gov.UK portal in February 2021
  • The JRB is taxable and should, therefore, be reflected in the business accounts
  • Eligible employers can include recruitment agencies and umbrella companies as long as the aforementioned rules apply
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Temporary VAT Business guide – What to do next

Tax VAT
Temporary VAT Business guide – What to do next
The temporary 5% VAT rate 
 
Basic outline
 
• The Government are reducing certain VAT rated supplies down from the 20% standard rate down to a 5% temporary rate.
• It covers the period from 15th July 2020 to 12th January 2021.
• Aimed at the hospitality, hotel and holiday accommodation sectors as well as admissions to certain attractions.
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Eat Out to Help Out(EOHOS) Business guide – What to do next

Small Business Tips Latest News
Eat Out to Help Out(EOHOS) Business guide – What to do next
The aim of EOHOS
 
• Government incentive to encourage people to eat or drink in eligible establishments during the month of August 2020.
• To assist the hospitality and leisure sector on the road to recovery.
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New capital gains rules for residential properties

Tax Latest News
New capital gains rules for residential properties
Whilst COVID-19 is still at the forefront of everybody's minds at present, it is important to note that some recent tax changes have still taken effect from the 2020/21 tax year.

With that said, one of the most important changes to be aware of is in respect to disposals of UK residential property on or after 6 April 2020 by UK-resident taxpayers, specifically that these transactions must be reported to HMRC within 30 days of completion if they generate a tax liability.

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Self-Employed Income Support Scheme - How to tap into this Government support

Tax Latest News
Self-Employed Income Support Scheme - How to tap into this Government support

In this blog I will be explaining who is entitled to claim under the Self-Employed Income Support Scheme and how to access that support

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The Business Growth Academy - Learn how to make your business more profitable and enjoyable to run

Business Mentoring Small Business Tips Events Latest News
The Business Growth Academy - Learn how to make your business more profitable and enjoyable to run
Details of the launch of the Business Growth Academy on Tuesday 19th May at 4.00pm we are launching our first Business Growth Academy online meeting. We are getting together a group of like minded business owners who are looking to make their businesses more profitable and enjoyable to run. I will be teaching ideas and strategies over the coming weeks that will help entrepreneurs achieve those objectives.
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Bounce Back Loans - possibly a saviour for micro business

Small Business Tips Latest News
Bounce Back Loans - possibly a saviour for micro business
Details of the Government's new loan scheme designed the help micro businesses suffering from the Coronavirus lockdown The Government have just annonced a new loan scheme aimed at supporting the small business sector. The main details of the loan scheme are as follows: -
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Coronavirus Business Interruption Loan Scheme (CBILS)

Accounts Small Business Tips Latest News
Coronavirus Business Interruption Loan Scheme (CBILS)
What is it?

Financial measure announced by the governemnt to support small and medium sized businesses by providing access to a source of alternative finance if you are impacted by the coronavirus outbreak.
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Access the Furlough Scheme in order to save your business and the jobs of your team

Accounts Payroll Small Business Tips Latest News
Access the Furlough Scheme in order to save your business and the jobs of your team
Information on how the Government's Job Retention Scheme is likely to work.
The objective of my blog is to help explain how the Furlough Scheme is likely to work so that you can see how it will benefit your business. I must say that this articles is based on my understanding of the Sheme, based on the information released so far and should not be relied on for advice at this stage
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Develop a financial plan to cope with impact of Coronavirus

Small Business Tips
Develop a financial plan to cope with impact of Coronavirus

Being prepared for and forewarned of the potential financial impact of the Coronavirus is essential for the survival of your business. This blog explains steps you can take to minimise your financial risk.

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National Minimum Wage 2020

Payroll
National Minimum Wage 2020
The treasury has announced that from 01 April 2020, the National Living Wage will increase by 6.2%. In real terms, this means that any employee over 25 years of age must now be paid at least £8.72 per hour.For those of you who are or employ workers aged under 25, there are also increases to the other minimum wage bands between 4.6% and 6.5%.
 
National Minimum and Living Wage rates are reviewed annually and changes are usually effective from April each year. The current and historic minimum wage bands can be checked at any time at https://www.gov.uk/national-minimum-wage-rates
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Changes to Employment Allowance

Payroll Small Business Tips
Changes to Employment Allowance
Are you an employer? Do you pay Employer National Insurance contributions for your staff? Employer NI contributions are a cost to the business and are currently* calculated at a rate of 13.8% on any wages over £166 per week per employee aged over 21 years.

Did you know that you could get up to £3,000 a year off your National Insurance bill if you’re an employer? This is the benefit of Employment Allowance.
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