VAT payment deferral Businesses do not need to pay VAT liabilities arising in the period from 20 March 2020 to 30 June 2020. Businesses will have until the end of the 20/21 tax year to make any payments deferred under the scheme. To be on the safe side, we think you should assume that the […]
Monthly Archives: March 2020
23
Mar
Mar
We’re being asked a lot of questions by clients about what the government’s Covid-19 business support measures are. We’ve got access to the same information clients have but here’s our view on what we think the guidance means: What the guidance means A furloughed employee (pronounced [fur][low]’ed) is one where he/she retains employee rights but […]
16
Mar
Mar
We’ve helped two clients out recently who started out in business, were successful, took on staff and found themselves a year later with lots of sales but much reduced profits – with key (supposedly trusted) members of staff earning more than the owners. How does this happen? And how can it be avoided? The point […]
16
Mar
Mar
The provision of accountancy services is mostly unregulated for owner managed businesses. Anyone can say that they are an accountant without being qualified or registered and we often hear about tax and accounting advice passed down from sages (excuse the pun) at the local pub. We know that there is a huge choice of accountants […]
16
Mar
Mar
If I’d had a pound for every business owner I’ve seen managing their business on their cash balance I’d be a wealthy man. It’s very common and ensures that 80% of businesses stay in the zone of struggling or just getting by instead of thriving. It’s true that the cash balance in a business is […]