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Category: Partnership

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Self Employed Income Support Scheme – New Grants

Self Employed Income Support Scheme – New Grants At the Budget it was confirmed that the fourth SEISS grant will be set at 80% of 3 months’ average trading profits, paid out in a single instalment, capped at £7,500. The fourth grant will take into account 2019 to 2020 tax returns and will be open…
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Budget 2021

Budget 2021 So today (3rd March 2021) the Chancellor has released his 2021 budget. Here are the details as announced so far with more to come over the next few days. If you prefer your updates by video click the play button below. The Furlough Scheme He has announced that the Job Retention Scheme, otherwise…
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Government Assistance – Lockdown 3

The Chancellor Rishi Sunak has unveiled some brief plans with regards to extra financial support after yesterday’s lockdown news: – Businesses in the retail, hospitality and leisure sectors will receive up to £9,000 per property in one-off grants as follows: – £4,000 for businesses with a rateable value of £15,000 or under – £6,000 for…
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Self Employed Income Support Scheme (SEISS) – New Guidance for next claim

Self Employed Income Support Scheme (SEISS) – New Guidance for next claim With the scheme now extended HMRC have issued somenew guidance and rules around who can claim, what records must be kept and how to make your claim. If you were not eligible for the first and second grant based on the information in…
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Self Employed Income Support Scheme – Extension

Self Employed Income Support Scheme – Extension The Self-Employment Income Support Scheme Grant Extension provides critical support to the self-employed in the form of two grants, each available for three month periods covering November 2020 to January 2021 and February 2021 to April 2021. Who can claim To be eligible for the Grant Extension self-employed…
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Why you need a Cashflow Forecast

Why you need a Cashflow Forecast Whether you have recently started out in business or are established you may have been told at some point that cash flow issues will kill a small businesses. There are many reports that show just how many businesses fail in their first few years simply by not paying enough…
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Self Employment Income Support Scheme Extended

Self Employment Income Support Scheme Extended WHAT IS THE SCHEME? The Chancellor recognises the continued impact that COVID-19 has had on the self- employed and has taken action to provide support. The SEISS Grant Extension provides critical support to the self-employed. The grant will be limited to self-employed individuals who are currently eligible for the…
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Are the Coronavirus payments taxable ?

Tax implications of Covid-19 support payments Various support payments are available to individuals and businesses to help mitigate the effects of the Covid-19 pandemic. Are the payments taxable and how should they be treated? Payments under the Coronavirus Job Retention Scheme? Grants payments made under the Coronavirus Job Retention Scheme (CJRS) for fully furloughed and…
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The difference between Profit and Cash

What’s the Difference between Cash and Profit and Can a Business Be Profitable But Still Run Out of Cash? So, you want to know how a company can be profitable but still run out of cash? This article courtesy of Brixx is a terrific place to start. Part of the answer is that profit is…
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SEISS – Second Grant

Claiming the second grant under the SEISS Claims for the second grant under the Self-Employment Income Support Scheme (SEISS) can be made from 17 August 2020 onwards. Who can claim? A self-employed individual or member of a partnership who meets the eligibility criteria and whose business has been adversely affected by Coronavirus on or after…
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