Tax Year Basis Update

A basis period is the period that HMRC tax your income/profits for. Individuals, trusts, and partnerships with trading income, are subject to the basis period rules. Including other unincorporated entities with trading income which is chargeable to income tax. Often the basis period will be the same as the tax year. However, where the accounting[…]

Autumn Budget 2021

Sunak continues to bask in the warm glow reserved for generous chancellors following his latest Autumn Budget speech. This is primarily thanks to the cutting of the Universal Credit taper rate by 8%. Furthermore, Sunak boosted struggling businesses with premises by revealing a five-point plan to retain and revamp business rates in England. Consequently, he’s[…]

Employee of the Month – August 2021

It’s time to find out who the Employee of the Month, for the month of August is! Our winner is Georgia! Georgia received the majority of votes from her colleagues this month. She was given some great feedback as to what made her stand out this month. The main reason that Georgia is the August[…]

How to manage cashflow in your business

During what would normally be the busiest period of the year for businesses in retail, hospitality and other sectors, many will now be keeping a close eye on their cashflow as they deal with the impacts of COVID-19. While Government-backed schemes like furlough, grants and loans will provide some much-needed support, there could be additional[…]

The economic damage of COVID-19

Had everything gone to plan this year, the Chancellor would have been delivering his Autumn Budget speech. Instead, Rishi Sunak declared an “economic emergency” alongside a slimmed down spending plan to see him through until spring. Nobody in government would privately claim there is any way to avoid tax rises at some point, but the[…]