Research carried out by the British Business Bank in 2019 taught us that 56 per cent of SMEs used finance in the previous three years. Most commonly, this finance is made up of bank overdrafts, credit cards, and loans from individuals, closely followed by bank loans and commercial mortgages. Since 2020, you’ll know from […]
Category Archives: Business Challenges
There are thousands of landlords in the UK, owning and renting out second properties. The majority of these landlords declare their income and pay taxes on the profits on their tax returns because they know the consequences of not declaring rental income. But what do you do if you have rental income that you […]
When we first met Jim, Subvision was a growing side hustle, turning over £40,000 as a result of weekend and evening work. At the time, the business was being run solely by Jim with the support of Subcontractor Keith – now a partner in the business. Most business owners in the early stages will […]
You may have already heard about the Domestic VAT Reverse Charge that came into effect from 1st March 2021. This is a change in the way contractors and subcontractors in the construction industry will account for VAT, specifically aimed at VAT registered businesses working under the Construction Industry Scheme. These changes can often feel […]
If you missed the payment deadline for Self Assessment on 31st January, there’s good news. HMRC are giving you more time to pay your Self Assessment Tax due to the impact of Covid-19. Although the deadline didn’t change in 2021 despite the financial hardship faced by many businesses in the Covid Crisis, taxpayers […]
Many business owners took advantage of the opportunity to defer VAT in 2020 as a result of the Government’s Covid-19 business relief. While we’re not out of the woods with lockdown just yet, it helps to know when you are required to make repayments, and how you can go about doing that. The good news […]
Late payments is the great business crippler. You can future proof your business against this problem and there are people who can help.
Cashflow problems can cause any businesses to fail. Making these small changes in your business will help you stay afloat when every penny counts.
Good news for those who have furloughed their staff – you can now make the claim for 80% of their wages via the coronavirus job retention scheme.
If there was ever a time to huddle together for a (virtual) cuppa, now is the time. We want to make sure you have all the information and access to help for your business during this time.