Monthly Archives June 2020

How to keep your business alive during COVID-19 Unfortunately, COVID-19 is still hitting many businesses very hard! What is worse, is that some experts are saying that the effects of this dreadful virus may continue into next year.  If your company is still experiencing a slowdown and you’ve completely run out of lockdown DIY projects, then it’s worth taking this valuable time to reassess your business. You could look at introducing more efficient processes or do some of those mundane jobs you have been putting off, so when business takes off you are ready and raring to go! Here are...
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How to improve your cashflow during COVID-19 COVID-19 took the world by complete surprise! In this pandemic there are no real winners because everyone is affected to some degree and businesses need to adjust quickly to the ‘new normal’. In times like these, cashflow becomes increasingly important to the survival of businesses. Here are 10 tips to deal with the immediate challenges: Ensure customers pay on time Check your collection process is working efficiently, ensuring customers are getting accurate and timely invoices so they are fully aware when payment is due. Any errors in your billing process can lead to...
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Updates to the Coronavirus Job Retention Scheme and Self-Employed Income Support Scheme Updated by the Chancellor on 29/05/2020 We have picked out the key points here that are relevant for employers. Increasing costs for employers The Coronavirus Job Retention Scheme (CJRS) grant will be tapered down with an increasing cost for employers in terms of salary, national insurance and pensions. Below is a summary of the government changes to the scheme that will occur over the coming months.  June Government contribution to furloughed staff  80% Salary (max £2,500 pm) + NICs + Pension Employer contribution to furloughed staff No contribution...
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Make sure you fill out your self assessment on time There are certain people, including the self employed, who have to fill out a self assessment tax return. This can be tricky but help is available. You can call on us to work with an expert Accountant Hemel Hempstead clients trust. The deadline for online tax returns regarding untaxed income for April 2018–2019 is 31st January 2020. However, there are other dates you also need to keep in mind. Deadlines to be aware of The 5th October 2019 is the last date for informing HMRC that you are self-employed and...
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