Category Archives: Business advice

Spring Budget 2021 – Income Tax Rates & Allowances

8th March 2021 Posted by -

It has been confirmed as part of the Budget announcements that the 2021-22 personal allowance will increase to £12,570 (2020-21: £12,500) and the

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Capital or debt?

16th March 2021 Posted by -

What is the difference between capital and debt, and why is the distinction important? One important distinction is that capital represents the

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Tax Diary March/April 2021

1st March 2021 Posted by -

1 March 2021 - Due date for Corporation Tax due for the year ended 31 May 2020. 2 March 2021 - Self-assessment tax for 2019/20 paid after this date

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What is overtrading?

2nd March 2021 Posted by -

A reminder that traders who buy and sell goods - wholesalers or retailers - need to be wary of the financial consequences if, as expected, pent up

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Financial outcomes for your business

17th February 2021 Posted by -

There are three possible financial outcomes for your business, each with their own challenges: Make a profit Breakeven, or Make a loss Making a

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How much do your customers owe you?

17th February 2021 Posted by -

Many business owners are buoyed by turnover; if it’s sold it’s as good as money in the bank, but is it? What are your credit terms? How many days do

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Self-Employment Income Support Scheme

11th February 2021 Posted by -

Claims for the third Self-Employed Income Support Scheme (SEISS) grant closed on 29 January 2021. Under this grant, the self-employed received up to

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Keeping pay and tax records

12th February 2021 Posted by -

Following the 31 January 2021 deadline for submission of Self-Assessment tax returns for 2019-20, it can be a useful exercise to review the rules for

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