Once you’ve submitted your tax return, you’ll know how much you owe HMRC. But how and when do you need to pay? We’ll talk you through Payment on Account and the deadlines. Self-assessment Payment on Account usually applies to UK taxpayers if your tax bill is more than £1,000. What is Payment on Account? […]
A healthy cashflow is crucial for small companies to navigate the ups and downs of business. It helps you plan ahead, budget for future spending and handle the unexpected. If you want to get your business to a better cashflow position, here are seven steps to success. 1) Start forecasting Take time to look […]
The 2021/22 tax year began on 6 April 2021, so we’ve pulled together a list of all the important tax information for businesses and individuals for the months ahead. Personal Tax Allowance Your Personal Allowance is the amount you can earn before you need to pay any Income Tax. The threshold has increased to […]
On Wednesday 3 March Rishi Sunak, Chancellor of the Exchequer, presented his ‘Budget for Recovery’ in the wake of the Covid-19 pandemic. But what does it mean for Peterborough businesses? Furlough Extended Businesses can continue to furlough staff, as the Coronavirus Job Retention Scheme has been extended to the end of September 2021. Both […]
If you work in building and construction, you need to be aware of the new VAT reverse charge starting in March 2021. What is the VAT reverse charge? Construction firms currently pay VAT directly to HMRC on any construction services or materials they’ve provided. But from March, VAT payment becomes the responsibility of the person […]
It’s traditional to set a few goals and resolutions for the year each January, even if we often find they’ve been forgotten within a few weeks. But if your goals are meaningful and achievable, they can make a lasting difference. Most of us would benefit from spending more carefully and looking after our money better. […]
If there’s anything we’ve learned this year, it’s that the world is an unpredictable place. And while no-one saw a global pandemic on this scale coming, there are some good learnings for businesses of all shapes and sizes. Something that’s become very clear is that a little forethought and planning can really pay – whether […]
As England entered a second lockdown on Thursday 5 2020, businesses and employees received an unexpected benefit from Chancellor Rishi Sunak. He announced a five-month extension of the furlough scheme to the end of March 2021. Employees unable to work during this time because their role is not required will receive 80% of their current […]
At the end of this month, the Coronavirus Job Retention Scheme (CJRS) will come to an end. This is the scheme that gave businesses funding to pay employees on furlough. From November, the new Job Support Scheme (JSS) will take over, running for 6 months until 30 April 2021. This new scheme is designed to […]
With new Coronavirus laws coming into force and ongoing economic uncertainty, many businesses are urgently seeking a helping hand. Some positive news is that the government has launched some new initiatives that could provide much needed cash injections for smaller organisations. Could you benefit from one or more of these? Kickstart Scheme – work opportunities […]