It’s April, which means it’s time to welcome in a new tax year. For most small and medium businesses across the UK, the 2020/21 tax year has been a tough one, but hopefully, 2021/22 will offer an improving landscape. At the beginning of the tax year, it’s important to be aware of incoming changes which […]

The government has announced a new £1.5bn fund will be made available for businesses outside of the retail, hospitality and leisure sectors following a deluge of appeals for support during the coronavirus pandemic. The new fund is designed to help firms with the taxes they pay on the value of the premises their business occupies. […]

It pretty much goes without saying that 2020 was an incredibly difficult year for SMEs, regardless of the sector or industry. Working operations had to adapt to unprecedented circumstances, doors had to be closed, and financial reserves had to be eaten into simply to allow some businesses to remain afloat. Millions of small businesses up […]

A report just published has shown there were record levels of small- and medium-sized enterprises applying for funding during the period 2020/2021, due to the Covid-19 pandemic. The British Business Bank’s Small Business Finance Markets report shows that 89% of all businesses applied for credit in 2020 with 45% of SMEs asking for funding compared […]

The role of the accountant has altered and evolved over the last few decades. It was once the case that an accountant was dedicated solely to sorting out all things tax-related, and while they are still very much adept at performing that role, there is far more to accountancy than simply balancing the books. For […]

The tax deadline has just passed, and if you haven’t paid your taxes already due to losing income in the past year because of covid, there are things that you can do. If you are paying self-assessment tax, you have until the 2nd or March to arrange a payment plan and avoid any penalties. What […]

The Chancellor is under increasing pressure from business leaders to extend the furlough scheme even further. With the unemployment rate soaring across the country, The Trades Union Congress (TUC) is encouraging the Government to extend the Coronavirus Jobs Retention Scheme to the end of 2021. First introduced at the start of the pandemic in March […]

As businesses across the country grapple with increased lockdown measures, the UK government has announced a range of support measures to help businesses during this difficult time. One of the most talked-about support schemes is the Bounce Back Loan scheme which was designed to allow small businesses to access finance quickly during the pandemic. We […]

The COVID-19 pandemic has been unprecedented on both individual livelihoods and on the economy overall. For businesses, both large and small, the question that everyone has been asking is “What support is available to businesses during the coronavirus pandemic?” The answer to this is constantly changing with the evolving tier system, localised lockdowns and national […]

As a business, you should be well aware by now that VAT deferral was introduced earlier this year to help small businesses cope with the economic fallout of the Coronavirus pandemic. To reiterate, VAT payments were deferred for the 20th March – 30th June 2020 period. If you’re one of the businesses subject to VAT […]