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Businesses can recover Covid SSP payments
Small and medium-sized businesses with fewer than 250 employees are able to recover Statutory Sick Pay (SSP) payments made to their employees from next week. The Coronavirus Statutory Sick Pay Rebate Scheme is part of a package of government measures to help firms...
What are management accounts?
If you think management accounts are the same as year-end accounts or something to do with tax returns, think again! While book-keeping and preparing for tax returns are part of your legal obligations, management accounts help run your business. Reports at the end of...
Applying for the Self-Employment Income Support Scheme
The Self-Employment Income Support Scheme (SEISS) portal opens today for applications. Under the scheme, self-employed people adversely affected by the coronavirus pandemic can apply for a taxable grant. Accountants cannot make applications on behalf of their clients....
Bounce Back Loans explained
Bounce Back Loans for businesses facing difficulty due to the Covid-19 pandemic have one important criteria to meet. If you do not meet these tests, you will be unlikely to qualify. Our founder Tony McNally looks at one of the tests and offers his take on it. The...
How can QuickBooks help my business?
Affordable technology helps small businesses streamline their workflows and accounting software such as QuickBooks is a perfect example. Last year, we shared an A-Z of accounting, and our posts about QuickBooks is one of the most viewed. So we thought we’d look at how...
Homeworking flat-rate allowance increases
Homeworking is pretty much the norm for most workers at the moment due to the coronavirus pandemic. But even before the outbreak, around 4 million people were working from home in some form, according to the ONS. HMRC is increasing the maximum flat-rate tax allowance...
Coronavirus Job Retention Scheme and other updates
The government has announced changes to the Coronavirus Job Retention Scheme helping businesses struggling during the lockdown. Previously, business owners could only claim for cash for furloughing workers who were employed on or before 28th February 2020. But in an...
Cash flow forecasts can help you during crisis
Cash flow forecasts sound a little dull but they are essential when it comes to understanding the health of your business. And as the coronavirus crisis seems set to continue creating uncertainty for companies, sitting down to produce a cash flow forecast is something...
Changes to help the self-employed
Millions of workers, including the self-employed, will be paying less tax thanks to an increase in the National Insurance threshold for the 2020-21 tax year. It feels like a long time ago since the Budget – which was just days before the lockdown – but the Chancellor...
Coronavirus Business Interruption Loan Scheme
If the Covid-19 outbreak means you face cash flow problems the government is offering the Coronavirus Business Interruption Loan Scheme (CBILS). It is part of its support for UK businesses and employees and is operated by the British Business Bank via accredited...