What are a Business plan and Cashflow forecasts and why do I need them?

Let us imagine that you visualise a perfect plan where you would like to be in 10 years’ time. This might involve you being wealthy, finding the perfect partner and being happy and satisfied. You want to create a business that allows you to play golf or visit a 5* spa without worrying that whilst you are away, everything would …

How to effectively manage your staff remotely

Prior to 2020, only 30% of the working population was able to work remotely, with these figures increasing every year. However, due to the Covid-19 pandemic, many employers now find themselves having to manage all of their staff remotely, and many are doing so for the first time. Alongside these figures, many employers also understand that there are a number …

Growing your SME business during a Global Pandemic

It won’t be business as usual for a long time. The effects of lockdown and the subsequent post-lockdown safety measures imposed on business are not yet fully understood. Small businesses are likely to be the hardest hit from the current COVID-19 pandemic. However, a volatile and uncertain economy can create just as many opportunities as it destroys. Depending on the …

The Key to a successful Zoom meeting

During the Covid-19 crisis, many businesses have turned to Zoom or their equivalents to conduct their meetings. At the start of lockdown, Zoom saw their download rate increase to 2.13 million downloads worldwide, both for business and recreational use. In the business world meetings between staff, clients and employers are now often being conducted via video apps, and below we …

Starting a business during Coronavirus

History shows, successful companies can be born in tough times. Previous financial crises have given rise to high-profile business. For example, WhatsApp, Instagram, Uber and Airbnb were all founded during economic downturns. We are certainly in a downturn again at present. Small businesses across the country were shutting down amid the spreading coronavirus pandemic. At the same time, new businesses …

Coronavirus Job Retention Scheme

What is the Coronavirus Job Retention Scheme? The Coronavirus Job Retention Scheme (CJRS) is a form of financial support for employees unable to work as a result of the COVID-19 pandemic. The scheme allows employers to ‘furlough’ (grant a leave of absence to) workers who have to stay at home as a result of the lockdown and cannot work remotely …

Running a Payroll

So you’ve set up your new business, got your head around the bookkeeping, and your other responsibilities as a company director. You’ve even started to get some paying clients and now you want to pay yourself a salary. But what’s the best way to go about this? How can you do it tax efficiently? Should you run a payroll or …

Deferral of VAT payments update

It was announced at the end of March that VAT registered businesses have the option to defer any VAT payments due between 20 March 2020 and 30 June 2020. HMRC’s guidance for the deferral of VAT payments has been updated and states that you can only defer the following: quarterly and monthly VAT returns’ payments for the periods ending in …

Self-employed Income Support Scheme

If you are self-employed and qualify for the Self-employment Income Support Scheme you will receive a cash grant from HMRC based on 80% of profits, up to £2,500 per month. The initial grant will be for the three months, from 1 March through to the end of May 2020, but could be extended for a longer period. On 30 April …

Government launches £1.25bn plan to support UK start-ups

The government has announced it will invest in innovative start-ups as part of a £1.25bn bailout plan for struggling to survive the effects of the coronavirus pandemic. To qualify to receive the government money, however, start-ups must have raised £250,000 of private funding over the last five years. On top of that, any money put in by the government must …