As individuals and businesses alike continue to face the challenges brought on by the pandemic, the government has announced further measures of support for both the employed and self employed. Prior to the announcement of a second lockdown, the Job Support Scheme (JSS) was put in place to replace the Coronavirus Job Retention Scheme (CJRS), […]

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As a business owner, it’s important not to miss any opportunities to streamline your business and make the most of your revenue. A well managed cash flow is a crucial aspect of every business, and managing a cash flow requires attention to your expenses. It can be difficult to determine what you can and can’t […]

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When you start your business, it’s likely and understandable that bookkeeping comes as an afterthought. Unless you’re an accountant, your focus will be somewhere other than bank reconciliation or keeping up with Making Tax Digital regulations for VAT. There’s enough on your plate already without having to worry about which bookkeeping software to download, and […]

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Introduction  The end of October brought plenty of bad news for Western economies as scientists stood in front of graphs and talked of ‘inexorable rises’ and ‘exponential increases.’ Unsurprisingly, stock markets duly took note. We report on 12 major stock markets and only two, India and Hong Kong, were up in October, with all the […]

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Introduction  September was a difficult month for world stock markets. It was one of those rare months when none of the markets we report on managed to gain any ground as fears of a second wave of the Covid-19 pandemic sparked a global sell-off in shares. It was also another month of bickering as tensions […]

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While these points might be most relevant for new business owners, it’s important for all to be rigorous with their taxes. After all, the taxman is someone we should all treat seriously, no matter how long we’ve been doing business. Here, we examine four key tax considerations to help new business owners manage their tax obligations, and […]

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A freedom of information request from accountancy firm UHY Hacker Young found that HMRC investigated 246 professional footballers during the 2019/20 tax year, up from 87 the previous year. The main focus of HMRC’s activity was on image rights, extra revenue which is used to supplement players’ contractual wages. Image rights have been a tax […]

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In mid-July, Sunak announced a surprise review of capital gains tax (CGT), following a report by the Office for Budget Responsibility (OBR) that highlighted how the growing deficit in government spending was likely to exceed £350bn in 2020. The Chancellor asked the Office for Tax Simplification to report on how CGT rates compare with other […]

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Pension savers across the country could be due a rebate after new HMRC figures show that some have been wrongly taxed after drawing from their pension pots. Hundreds of thousands of people have been overcharged in tax since new pension rules were introduced back in 2015. As you may already know, pension freedoms gave savers […]

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Introduction  August used to be known as the ‘silly season’ – a phrase coined by the Times in 1861 to describe the lack of news in August and early September when parliament was in recess. Well, there was plenty of news in August 2020. With coronavirus and its effects, the continuing squabbles over Brexit, the […]

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