Any business that deferred VAT payments due between 20 March and 30 June 2020 as a result of the Coronavirus pandemic, must now consider how they will repay this outstanding tax. They can choose from the following options in order to do this: Pay the deferred VAT in full by 31 March 2021; Join the […]
Online sales tax proposal for Autumn Budget
The UK Treasury is considering online sales tax for retailers such as Amazon, Asos and Ocado, after a drastic increase in online shopping and the current “uneven system”, has caused many in-store retailers to be at a disadvantage.
The General Export Facility, explained
Launched in December last year, the General Export Facility is designed to help businesses export their goods and services overseas. But what is the scheme? And how could it help your business? Overview The General Export Facility (GEF) is a guarantee scheme run by the Government’s export credit agency, UK Export Finance (UKEF). The facility […]
COVID-19 Bounce Back Loan repayment period extended
The Government has announced changes to the Bounce Back Loan Scheme (BBLS) available to small businesses in the UK that will give companies longer to repay what they have borrowed. Around 1.4 million small and medium-sized businesses have taken out a loan since they were introduced last year, amounting to around £45 billion of financial […]
Business owners put billions of pounds on the line to secure early CBILS loans, figures reveal
Business owners who took out an early coronavirus loan have more than £1.2 billion of personal guarantees on the line, a major study has revealed.
Why every business should know its numbers
At the beginning of the New Year, it is crucial to have an overall understanding of your finances because it puts you in the position to make better decisions and set more meaningful objectives.