SMALL BUSINESS DISCRETIONARY GRANT PAYMENTS TOP-UP TO LOCAL BUSINESS GRANT FUNDS SCHEME The Government has announced a discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme. The Business Secretary Alok … [Read more...]
Small businesses boosted by bounce back loans
A couple of days ago Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to £50,000, would help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic. The scheme has been designed to ensure that small … [Read more...]
COCOONING A BUSINESS
Some businesses are going to need to “mothball” or “cocoon” until the Government considers the Pandemic to be of lower risk and trading conditions improve. What is Cocooning? Cocooning, or mothballing, is a temporary suspension of a business and can be the result of sales reducing to zero (or … [Read more...]
Business Survival
The Government has stepped in to provide support to certain areas of the economy but even with this becoming available in the coming weeks, some of you will need advice on how to survive the lock down. Under the regulations, most businesses are in lockdown or closed excluding … [Read more...]
CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME (CBILS)
This new loan scheme delivered by the British Business Bank, will launch from 23 March 2020. The Temporary Coronavirus Business Interruption Loan Scheme (CBILS) can provide facilities for smaller businesses (SMEs) across the UK who are experiencing lost or deferred revenues, leading to disruptions … [Read more...]
BREAKING NEWS – IR35 CHANGES DELAYED
Breaking news Due to Covid-19, the Government has just announced to delay the IR35 with the legislation now due to be reintroduced in April 2021 Unfortunately, some contractors say the delay has come too late as they have already lost out by accepting jobs with PAYE and national insurance being … [Read more...]
What do I need to know about IR35
The date is fast approaching on 6 April 2020 amid #COVID19. changes are still going ahead. Many companies, contractors, freelancers and business owners are asking “what do I need to do about IR35”, and “What is off-payroll working?”. This article explores IR35 and why you may, or may not, need to … [Read more...]
Why book-keeping is important in your business
A lot of small businesses find book-keeping a very tedious and mundane exercise. However, book-keeping is one of the most important elements in any business. Without accurate book-keeping you won’t know how much profit you really made, may forget to claim for some expenses (ending up out of pocket … [Read more...]
IHT relief for businesses and farms
There is currently a, very generous, 100% relief from inheritance tax for passing on businesses and farmland during lifetime and on death. The rationale for Business Property Relief (BPR) and Agricultural Property Relief (APR) is to enable businesses to be passed on without the need to sell off … [Read more...]
5 ideas to improve cashflow
A successful business is successful because it always has cash coming in, not because it sells a lot, or has a good margin. A (lack of) cashflow causes businesses to fail, or succeed. You're not working hard for profit, you want CASH. How is your cashflow and do you regularly focus on improving … [Read more...]
