When is the best time to start a small business?
You could actually find that it may be during a downturn… as many perceived obstacles are actually opportunities if you are aware of them and take advantage. Having started my own business in 2006, I have both grown my own
Confirmation of payee for bank payments
In order to reduce fraud, confirmation of payee has been introduced for bank payments. This service aims to tie up payments to the correct account name, whereas in the past only the sort code and account number was used. At
Small Business Saturday 2020 & the #SmallBiz100
Many people will be looking to promote their business in the current market, something I can highly recommend is Small Business Saturday and also the Small Business Saturday 100. There are many great opportunities to gain publicity for your small
SEISS second payment announced
The Self Employed Income Support Scheme (SEISS) has been extended to cover a further period of three months. The second payment, which will be the final one under the SEISS scheme, is to be capped at £6,570. The second grant
WFH – Homeworking Expenses for Employees
With many employees currently working from home, there have been two welcome concessions for HMRC regarding the tax treatment of expenses. Personal purchases of equipment to be used for work purposes. Tax relief on homeworking expenses. Personal purchases of equipment
Remember that SEISS grants are taxable income
This week should see the first payments from the Self Employed Income Support Scheme (SEISS) being made to claimant’s bank accounts. However, it is important to remember that this grant is classed as taxable income and will need to be
Claiming the HMRC SEISS grant
HMRC has been able to move up the expected timescale for claims under the Self-Employment Income Support Scheme (SEISS.) They are now starting to contact those who qualify, and aim to have contacted them on how to proceed with a
Bounce back loans launched
The government has launched the bounce back loan scheme, which may be of interest to you or someone you know. These are loans of between £2,000 and £50,000 over 6 years specifically for small business. They are available up to a maximum loan
HMRC notice to complete a 2020 tax return
HMRC has been issuing the notices to complete 2020 tax returns – if these arrive in the post they are called a SA316 form. If you have a personal tax account, then you will receive a message (as above) containing
HMRC 2020 tax refunds in only 7 days
Due to starting preparation work early, I was able to submit the first 2019/20 tax returns online to HMRC on Monday 6th April. These were processed by HMRC online next day, and in the case of refunds these then started
Adapting consultancy businesses during the lockdown
This is a sample handout from my online course – start and grow your own consultancy small business from home. During the current situation, there are many technologies that you can employ to continue helping others through your consultancy business
HMRC 2020 Paper Tax Return Form SA100
Every year, one of the issues people without an adviser face online is actually trying to find the tax return form itself to complete. This year it is especially important, as HMRC have announced that they are no longer automatically
