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How much pizza can you afford after the new National Insurance changes

You’ll no doubt have seen the news of a rise in both employees’ and employers’ National Insurance contributions (NICs). It’s been a contentious move by the Government, with some people seeing the policy as a necessary way of generating extra revenue for the NHS and social care, and others questioning if a tax on workers is a positive step at this stage. However, this increase in NICs is coming and will take effect from April 2022 – and it’s going to have a meaningful impact for you a...

September 20, 2021

What's your money story?

What's your money story?What you believe about money and how you relate and interact with it affects every aspect of your life and business. A belief is simply a story that you have told yourself so many times that you think it’s the truth. So, for us all to live a vital, vibrant, and thriving life, the story we’re telling ourselves and choosing to believe about money needs to be uncovered, understood, and possibly re-written. Let’s start by understanding what money means to you, what...

September 11, 2021

Proposed change of accounting periods for Tax

Are you self-employed? Or are you a partner in a trading partnership? If you are, you should be aware of the proposed changes to the tax basis period for unincorporated businesses. HM Revenue & Customs (HMRC) is proposing to change the way that unincorporated businesses are taxed, moving from a ‘current year’ basis to a ‘tax year’ basis. For affected businesses (those that don’t have a year-end between 31 March and 5 April), this could mean a much larger tax bill for the 2022/23 tax ye...

September 11, 2021

Achieving your goals

Have you ever found yourself struggling to achieve your goals because you just don’t have enough time to commit to them? Chances are, you’re doing things back to front. Rocks, Pebbles and Sand is a simple, yet crucial, planning concept depicting that we’ll achieve more if we set our annual goals (or ‘rocks’) first, then our 90-day goals (‘pebbles’) and actions (‘sand’). If we had a jar and first put in some sand, then added pebbles, then tried to put the rocks on top, not many ...

August 19, 2021

Welcoming your team back to the workplace

Covid restrictions have been easing or lifted across the nations of the UK in recent weeks. So, it’s time to start thinking about the return to the workplace and how you'll welcome your home-working and furloughed people back into the office. After months of working from home during lockdown, it's a big cultural shift to move back to the office or workplace. People will be anxious, worried and out of practice with the social norms of working in the same space. As an employer, it's your role to...

August 10, 2021

How's the forecast looking for your business?

Whenever we're going on holiday or have plans for the weekend, we always check the weather forecast so we can plan accordingly. It’s no different in business. The forecast tells us if there’s bad weather (poor cashflow) in store based on the direction we’re heading....

August 6, 2021

Forecasting doesn't have to be in a foreign language

The post-Covid, globalised economy has created a number of challenges for the average business. Depending on your business purpose and strategy, you may need to either upsize, or downsize, to secure the long-term future of your company. But what are the implications of scaling up, or scaling down, your operations? And how do you refine your business so it's fit for purpose and ready to take on your new aims and goals? The answer is to look carefully at your forecasting and your future decision-m...

July 22, 2021

Looking for help with EU VAT on exports?

Do you export goods or services from the UK to the EU? Are you ready for the new VAT One Stop Shop system?  We’ll help you understand the EU VAT changes and how to register....

June 29, 2021

Should I employ family in my business

Thinking of employing a family member in your business? Come and talk to us about planning out the right considerations around pay, benefits, and tax-efficiency. ...

June 22, 2021

NOW, WHERE, HOW,

First, establish where you are NOW. Then, determine WHERE you want to be. Finally, work out HOW  you’ll get there. Need help mapping your growth journey? Get in touch!...

June 17, 2021

Should you buy or lease your new equipment?

There are certain items of equipment, machinery and hardware that are essential to the operation of your business – whether it’s the vans, the cooking and packaging equipment for your food business, or the high-end digital printers and macs you use to run your design business.But when a critical business asset is required, should you buy this item outright, or should you lease the item and pay for it in handy monthly instalments?...

June 8, 2021

Do you know if your dividends are legal?

Do you know the rules around dividends? If not, you could be making illegal dividend payments. Talk to us and we’ll help you meet your obligations and get in control of your company finances.We all know that dividend payments are a key way to pay yourself and your fellow company shareholders when your business makes a profit. But are you following the right rules when taking out dividends from your company? Dividends can only be declared out of your company’s available undistributed profits,...

June 1, 2021

6 Reasons To Look at Your Financial Reports

Making time to look over your financial reports each month is an important task for any business owner. We can give you an overview of what reports you'll need to help you build a thriving business....

May 25, 2021

Do you need better access to funding?

If you want to strengthen your capital position, now’s the time to take action and to start thinking about your funding needs as a company. Talk to us about creating a funding strategy. ...

May 18, 2021

UNLOCK YOUR BUSINESS POTENTIAL

Temporarily trimming what you take from the business will boost your recovery. We can help you reduce the strain and improve cashflow as you rebuild with a #PersonalBudget and #Business Plan...

May 11, 2021

The Value of Cashflow Forecasting During Recovery

To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to safeguard your cash position. Plus, when you have access to detailed forecasts you can scenario-plan, search for cost-savings and look for strategies that will preserve your cashflow position. After all now is not the time to let your cash to flow out of control....

May 5, 2021

March 2021 Budget News

The current version of the furlough scheme that started on 1 November 2020 was scheduled to end on 30 April 2021. In order to avoid a “cliff-edge” with resulting widespread redundancies the chancellor has announced a further extension of the scheme and also a phased reduction in support to employers. The CJRS furlough grant for May and June will remain at 80% of the employees’ usual pay for hours not working but it will then be limited to 70% for July and then 60% for August and September....

March 11, 2021

Warning - Self Employed Third SEISS Grant Available

The Third Self employed Income Support Scheme grant is available from 30 November to 29 January 2021. Further to our earlier 2nd lockdown brief, we now have more information about what actively trading and impacted by mean. As anticipated, this comes with more restrictions so we have several warnings....

December 1, 2020

19 OCTOBER 2020 - Deadline Self Employed Grant

Self Employed – Income Support Scheme Grant Like a football transfer window, the claim period for the 2nd self employed grant slams shut on 19th October 2020, and this window will not reopen. If you have not claimed, you will not be able to claim that particular grant at a later stage. You can claim even if you did not claim the first grant....

October 15, 2020

WINTER ECONOMY PLAN

The winter economy plan announced by the Chancellor covers 5 areas of support Payroll through shorter term hours – the Job Support Scheme (JSS)Extension to the self-employed income support scheme (SEISS)VAT reduction extension for the hospitality and tourism sectorExtension to loan finance (BBLS CBILS) applications deadlineMeasures to assist cashflow by making it possible to extend the time to repay deferred vat and self-employed taxes and repay loans. ...

September 30, 2020

REDUCED RATE 5% VAT FOR HOSPITALITY SECTOR

Guidance has been issued by HMRC on the temporary 5% reduced rate of VAT to support the hospitality sector. The rate cut applies to specific supplies of hospitality, hotel and holiday accommodation and admission to certain attractions. The temporary 5% reduced rate is effective  from 15 July 2020 to 12 January 2021 and applies to the following supplies: food and non-alcoholic beverages sold for on-premises consumption, such as  in restaurants, cafes and pubs;hot takeaway food;hot ...

July 17, 2020

Coronavirus Job Retention Scheme CJRS V2

The new Coronavirus Job Retention Scheme (CJRS V2) starts from 1 July 2020 it is only available for employers that previously used the original schemeit is only available only for those employees that have previously been furloughedeach claim is limited to the maximum number of employees claimed for in a single claim under the original schemethe amount the Government contributes is gradually being reduced (see table)the employee continues to receive a minimum of 80% of his/her salary throughoute...

June 19, 2020

Bounce Back Loan Scheme

The Chancellor announced a new loan guarantee scheme. Further details will be announced in the coming days, but what we know are; Businesses can apply for a loan between £2,000 and £50,000 limited to 25% of turnover The government pays the interest for the first 12 months The government guarantees 100% of the loan Scheme opens 9am on Monday 4 May 2020 There will be a two page standard application form Most loans will be paid within 24 hours of approval Loan term can be up to 6 years No repaym...

May 2, 2020

Coronavirus Job Retention Scheme

We have set out below the more important features of the coronavirus job retention scheme, which includes information on how to calculate wages, and what information is needed to make a claim. Claims cannot be made more often than every three weeks. At present we have no information about how to submit the claim nor how any of this applies to director only payrolls. The rumour is that directors are covered provided the only work they do is complete their statutory filing responsibilities. The mi...

March 28, 2020

MAKE EACH DAY COUNT

OR ARE YOU GOING TO LEAVE IT BEHIND!   Up against a wall in your business, working all the time available, or not available, running to catch up but never stopping for breath, missing spending time with the family, children grown up and you missed the sports days, suffering bad health, working for the customers that shout the loudest, struggling with cash flow? These are all indicators that you are working for the business and the business is not working for you. It is time to make a decisi...

July 29, 2018 Posts 1-25 of 25 | Page
 

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