The Fifth SEISS (Self-Employed Income Support Scheme) Grant – All You Need To Know
The fifth SEISS (Self-Employed Income Support Scheme) grant application has been announced by the government. Eligible participants will be contacted through text, email, letter or through SEISS government portal informing when and how to apply. This is to be the final support self-employed grant to be made available to the public to help through the loss of profits caused by the COVID-19 pandemic. Information on the fifth SEISS grant and how people can claim was previously intended to be published…
Liquidation and Directors Disqualification – All You Need To Know
Liquidation is every business owner’s worst nightmare, however unfortunately it is the stark reality for many. Liquidation is the process of which a company is formally ended. This means the company’s assets (property, stock etc.) are liquidated and turned into cash for payment to the creditors of the company, in order of priority. Liquidation results in the company also being removed from the register at Companies House as it ceases to exist. According to an ESRB (European Systemic Risk Board)…
Business Insurance – What You Need & What Is Recommended?
Any good business owner knows that protection is one of the most fundamental elements in business, no matter what industry you’re in. Insuring your business not only gives you peace of mind but also safeguards certain aspects where your company is at threat or if something bad were to happen. Business insurance is for all businesses no matter what size, from huge multi-national firms to the smaller companies which make up the backbone of the economy. Knowing what exact types…
Self-Assessment Payment Plan & Second Instalment On 31st July – All You Need To Know
The Self-Assessment Payment Plan is an online scheme set up by HMRC to pay any outstanding tax liabilities in full or to set up an online payment plan to avoid a 5% late payment penalty. The scheme was announced on the 25th January 2021, with the deadline later extended to midnight on the 1st April 2021. The first instalment of self-assessment is usually to be submitted by 31st January (although this was extended in 2021), with the second instalment by 31st July. This…
Important Changes To VAT Regulations From 1st July 2021 – All You Need To Know
As of the 1st July 2021, changes were made to VAT regulations concerning the VAT and duty treatment goods sold and shipped to customers in the EU (European Union). The changes will largely targeted towards B2C (Business To Customer) imports as well as some B2B (Business To Business) imports in relation to tour operators margin scheme and flat rate schemes. This means that the majority of changes will likely affect both businesses as well as online shoppers. Before 1st July…
What Help Is Out There To Deal With Financial Worries?
Over the past year, we have seen thousands of businesses and individuals experience some form of financial distress. Financial worries are one of the leading causes of suicide in the UK, enabling people to think that life isn’t worth living due to the money situation they find themselves in. According to a 2019 survey by Perkbox, over a quarter of all adults in the UK experience financial stress on a daily basis, with a staggering 0% claiming they never feel…
Why Giving Back To Charity Is A Win Win For Your Business
Charitable work and initiatives are a part of many companies’ agendas and can bring in many positives that extend beyond giving back to those less fortunate. It’s a known fact that when you do good, you feel good, and feeling good can directly impact your quality of work for the better. In fact, a study by the University of Warwick has found that happiness is linked to a 12% increase in productivity in the workplace. Ensuring that you are a…
The Furlough Scheme – A Year On As Changes Beckon
The furlough scheme will be remembered as one of the lasting memories from the pandemic. Announced at the 2020 UK Budget by Chancellor of the Exchequer, Rishi Sunak, back on the 20th March 2020, it was designed to heavily support businesses from laying off staff members whilst preventing mass unemployment in the immediate aftermath of the pandemic. It was part of the Coronavirus Job Retention Scheme package, offering employees a paid leave of absence that would take the pressure of…
The EU Settlement Scheme – All You Need To Know
The EU Settlement Scheme is a measure set up to ensure that all EU citizens (as well as EEA and Swiss citizens) who were living and working within the UK before 1st January 2021 (when the UK officially left the EU) can legally live and work in the UK after the 30th June 2021. After this date, any EU passport or officially issued EEA residence documents will no longer be valid proof that an individual has the right to work…
