Assistance with the cost of living – May 2022

Key measures the Chancellor announced yesterday include: • a one-off non-taxable Cost of Living Payment of £650, made in two instalments, from the Department for Work and Pensions (and HMRC for Tax Credits customers) to provide additional support to more than 8 million people in receipt of income-related benefits. DWP will make a separate additional…

Bounce Back Loan Scheme and Pay As You Grow

The Bounce Back Loan Scheme (BBLS) was launched to support small and medium businesses to access emergency finance quickly during the coronavirus outbreak, enabling them to borrow between £2,000 and £50,000 with no repayments in the first year, and the interest accrued being covered by the government. For loans larger than £50,000, the Coronavirus Business…

The benefits of having an accountant.

Having an accountant is always more than just them filing your accounts and tax returns with the relevant authorities. Accountants themselves are business owners, so should be able to answer your queries with empathy, but with the added benefit of seeing the nuts and bolts of other businesses, giving them that direct exposure to many…

Why is tax planning so important?

“Whatever it will be, is whatever it will be” The above statement is said by those who accept their fate, and that they believe nothing can be done about the situation that they are in.   And quite often, many taxpayers have the same belief, in that they don’t feel that there was an opportunity…

Personal Pensions – and Tax

When running your business, you’re mainly thinking about the here and now, and making most of your opportunities. And planning consists of the next 3 months, the next 12, and potentially up to around 5 years into the future. As such, Pensions are not high on your agenda, but they should be. When we talk…