On 24th September, after weeks of speculation, the Chancellor announced the successor to the furlough scheme as part of a Winter Economy Plan. The ‘Job Support Scheme’ will come into effect on November 1st and will cover a six-month period.
Here are the key elements of the new scheme, as well as a guide for employers on what to do now furlough is ending.
If you’re considering how to improve your accounting processes and your financial decisions, we strongly recommend finding out more about Xero. Here’s a brief guide to Xero cloud accounting features and benefits, but if you’d like to discuss it in more detail feel free to get in touch.
Sunak’s “Plan for Jobs” is designed to protect and create roles that will help Britain recover from the economic effects of COVID-19. While the measures aren’t as wide-reaching as announcements made in phase one, many will see them as a welcome boost during difficult circumstances.
2020 has been a tough and stressful year for employees and people who are self-employed. The government lockdown to reduce the spread of Coronavirus essentially meant that people should work from home wherever possible. But, for many self-employed people that was not an option.
The Covid-19 crisis has taken an extraordinary toll on the UK, with essential workers in many sectors having been severely tested. Here's some advice for business owners on paying wages and sick play for employees during Covid-19.
Our experienced accountants reveal how to recover loss in business momentum and get ahead of potential cash flow problems. Business recovery may not happen overnight, but there is help available to make it achievable.
Small businesses and companies in certain sectors are feeling the pressure from social distancing and lockdown measures put in place by the government. In order to survive, businesses will need to learn to adapt - here we look at some fantastic examples of companies adapting, surviving and even thriving during these troubling times.
Chancellor Rishi Sunak has revealed a number of temporary and targeted measures to support businesses and help the economy through the disruption caused by COVID-19.
Here is a summary of the support available to businesses to deal with the impact of coronavirus and a breakdown of what businesses are eligible for the different measures.
Employing staff is a big step for any new business. An extra set of hands can boost your businesses’ productivity and can even help you offer additional services to your clients or customers. But employing staff for the first time brings forward financial, tax and legal obligations for employers.
Starting a new company can be complicated, and legal challenges are one of the top reasons small businesses fail. Here are eight legal mistakes commonly made when starting a new company and tips to help you avoid them.
If you are considering a merger or acquisition, it’s essential that you take professional advice before taking any decisive steps. One of the most important parts of the process is due diligence – a legal and financial assessment of any potential risks in the transaction.
All you need is the one big idea, one that could take you where the famous ‘garage entrepreneurs’ have found themselves — Apple, Facebook, Google, Microsoft. Here we’ll give some pointers on how to come up with a business idea, plus what you’ll need to do to get your idea off the ground.
If your business is registered at Companies House, you have to prepare an annual profit and loss statement by law. Choosing to prepare a profit and loss forecast could have valuable benefits for your business. Here's a guide to profit and loss forecasts as well as a handy profit and loss template.
After much success helping SMEs with their accounting and legal needs in London and Brighton, we are incredibly proud and excited to open our third office in Manchester. The office is run by Stuart Hurst, a talented accountant with 15 years’ experience.
Disputes often arise purely because of a lack of clarity, and that doesn’t only apply in business. Misunderstandings are a part of everyday communications, and they can happen easily. Even the strongest of relationships can have ups and downs, and business partnerships are certainly no exception to that. What’s important is to try and get ahead of any potential problems by creating a deed of partnership, otherwise known as a partnership agreement or a shareholders agreement.
To help local businesses not just recover from, but beat, the economic impact of Covid-19, Brighton accountants, Accounts and Legal, and Sussex based solicitors, Mayo Wynne Baxter, are hosting a free webinar, on ‘how not to become a statistic and to come out thriving.’
With businesses struggling to survive, the pandemic has resulted in more than one million UK workers being furloughed, according to Chancellor of the Exchequer Rishi Sunak. As the crisis continues, one in four workers, which equates to over nine million people, are expected to be furloughed.
We clarify the situation regarding whether your BI will pay out in the current crisis, whether you should consider pandemic cover as part of your insurance in future, and give you some insider’s tips on saving on business insurance quotes.
With panic over coronavirus spreading, many workers are being ordered to stay away from the office and work from home. But is the reality that a huge number of UK workers are already doing so? Here we looking into remote working in Britain.
The Accounts & Legal team recently attended Xerocon 2019 in London, the world's most innovative conference for cloud accounting leaders, with over 3,000 other attendees. During the event, a raft of new products were announced that will help our small business clients...
The Government has introduced a number of schemes to enable small and medium businesses to continue trading during the pandemic crisis – BBLS, the Bounce Back Loan Scheme and CBILS, the Coronavirus Business Interruption Loan Scheme.
Buying a business can be a great way to bypass some of the years of hard work that go into building a venture. Yet, it's by no means plain sailing, and it's only likely to prove a shortcut to success if you get everything right. While buying an established business does require some time and effort, it also means you'll need to have access to substantial funds, so there are risks.
In case you hadn't heard, the FIRE (Financial Independence/Retire Early) movement has been gaining traction for a while now. In essence, followers believe that you get paid for your time, and how much time you are free from a traditional job is what defines success and happiness.
It’s often said that the value of your business is what someone is willing to pay for it, but there are several approaches you can deploy to reach an accurate figure. Here's how to value your small business accurately.
As a small business, you have a choice of how you file your accounts. You can either submit a full set of accounts or an abridged set, which contains less detail but meets the compliance requirements of Companies House and HMRC.
Moving accounting systems is a daunting process, you’ve got all your financial history in the original system and learning something new takes time. But with the help of our Xero accountants, moving from Sage to Xero isn't complicated.
There is little doubt that the UK Government’s ‘Making Tax Digital’ programme is a bold one. In their words, “HMRC’s ambition is to become one of the most digitally advanced tax administrations in the world”. So, what is making tax digital, and what are the benefits?
With the Coronavirus keeping consumers at home, high street businesses are feeling the hit while food delivery offerings and digital subscription services are seeing a surge in sales. Here, our top London accountants will explain these rules and exemptions to explain VAT charged on delivery and postage costs.
Here, our team of expert tax accountants explain everything you need to know about VAT on business entertainment. We’ll include a breakdown of the tax treatment of entertaining clients and employees, the rules governing staff parties and taking potential clients out for lunch, and discuss if it’s better to pay for these things through the company or out of your own pocket.
Over the next 10 years, the number of people with a side hustle is expected to rise significantly. Henley forecasts 50% of the UK population will have a side hustle by 2030. And a survey by Hiscox revealed the average person with side hustle works an extra 6 to 15 hours per week, while 1 in 5 work an additional 16 to 20 hours.