Government Summer Statement – Further Coronavirus help for business and individuals On 8th July the Chancellow announced some further help for businesses and individuals. Here is a summary. Job Retention Bonus The government will pay a one-off £1000 payment to employers for every furloughed employee retained to the end of January 2021 This is conditional…
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Companies House filing deadlines have changed The Corporate Governance and Insolvency Act became law at the end of June and with it came a raft of extensions to filing dates at Companies House. Where an extension is possible it has been automatically processed by Companies House and you no longer need to apply for permission…
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1. Who can I place on flexible furlough? From 1 July 2020 only employees that you as an employer have claimed for previously will be eligible for more grants under the Job Retention Scheme. This means they must have previously been furloughed for at least three consecutive weeks taking place any time between 1 March…
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Annual Accounts are just a jumble of numbers on a page that most business owners don’t understand. But in the right hands and with the right understanding those very same numbers can tell you so much about your business. Let’s start with trends as they can reveal which way a business is heading. Using the…
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Business Expenses – A few basic rules Over the years I have seen some amazing claims for what taxpayers believe should be an allowable expense against their profits. From make-up to pet food for the guard dog. With this in mind I thought it worthwhile just going back to a few basic rules. The “Wholly…
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Flexible Furlough Scheme – 1st July 2020 There are changes being made to the furlough scheme with effect from 1st July and that means that if you are an employer you need to be aware of how you can bring staff back to work and claim the furloughed grant for the hours they do not…
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What is a dividend? One of the most common questions I am asked is whether a Company Director / Shareholder can take a dividend to reduce their corporation tax bill ? I believe it is a popular misconception that a dividend is some sort of business expense that helps to reduce bills but it most…
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Recently Balloon Accounting became one of the first Accountants in Bournemouth to publicly commit to making our world a better place, by joining the worldwide Business Giving Movement, b1g1.com. It means that we are now able to link many of the activities in the business to making something great happen in our world. We can…
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What would you say if a restaurant asked you to pay more for a well-done steak than a rare one? You wouldn’t be happy being asked to pay more in a restaurant for a well done steak because it takes the chef longer to cook than a rare one, would you? And you wouldn’t be…
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On Friday (29th May) the Chancellor announced some changes to the Coronavirus Job Retention Scheme and the Self employed Income Support Scheme. Here are the details: Coronavirus Job Retention Scheme (CJRS) – Important Update 29th May 2020 The Chancellor has announced three changes to the job retention scheme: 1. From 1 July 2020, the scheme…
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