Both the Bank of England and the UK’s leading business members’ organisation believe the economy is set to take off after the vaccine bump. GDP (Gross Domestic Product) is expected to rise sharply in the second quarter as lockdown eases. Bank economists say this is a result of the vaccine rollout and the fastest predicted […]
OTS to consider “benefits and implications” of moving tax year end date
The Office for Tax Simplification (OTS) will explore whether there is a case for moving the UK’s tax year end date. Announcing the review, the office, which provides independent advice to HM Revenue & Customs (HMRC), suggests that aligning the tax year end with the financial year end could reduce financial and administrative burdens for […]
Businesses need to act now on upcoming changes to furlough, says Davis Grant
London accountants Davis Grant is urging businesses to prepare for important changes to the furlough scheme in the weeks ahead. Earlier this year the Government confirmed an extension to the Coronavirus Job Retention Scheme (CJRS), more commonly known as the ‘furlough scheme’. Since then, HM Revenue & Customs (HMRC) has published a series of useful […]
Less than one month left to apply to SME Brexit Support Fund, businesses reminded
There is less than one month remaining to claim grant funding through the SME Brexit Support Fund, businesses have been reminded. The initiative – which helps new and established businesses adapt to post-Brexit importing and exporting processes – will close to new applications on 30 June 2021. If you need help trading overseas, here’s what […]
Workplace childcare vouchers – get the best out this scheme during COVID-19
As many employees began working from home during the height of the coronavirus pandemic, they used less paid childcare, as many before school clubs and nurseries were closed. Therefore, employees who use the childcare voucher scheme will most likely have unspent vouchers in their related accounts if they did not reduce their contributions – which […]
Five ways cloud accounting could boost your business
Cloud accounting is simple, fast, and efficient. So why are so many businesses refusing to make the switch? In this blog, we’re going to explore just five ways cloud accounting could boost your business and help you leave competitors behind. Real time data Why spend hours a day transcribing data from notepads, receipts, and bank […]
New figures highlight success of coronavirus support schemes
Some 2.8 million people took advantage of the Self-Employment Income Support Scheme (SEISS) in the last year, the latest figures have revealed.
Just one month left to apply to EU Settlement Scheme: what employers need to know
EU workers have just one month left to apply to the EU Settlement Scheme to secure the right to live and work in the UK. If you employ EU nationals, here’s what you need to know. What is the EU Settlement Scheme? European Union, European Economic Area (EEA), and Swiss citizens who lived and/or worked […]
Deadline to pay deferred VAT or arrange payment plan “fast approaching”
The deadline to pay deferred VAT or arrange a payment plan is “fast approaching”, the Institute of Chartered Accountants in England and Wales (ICAEW) has warned. Businesses who deferred VAT in the wake of the coronavirus pandemic must take action before 30 June 2021 or risk penalties. If your company has outstanding VAT liabilities, here’s […]