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SEISS: Grants 4 & 5 information

Posted 17th May 2021 at 7:12 pm

SEISS

The Self-Employment Income Support Scheme (SEISS) was late arriving compared to other forms of government support to mitigate the effects of the Covid-19 pandemic, and has been changed and altered frequently over the last year. The details of the final two SEISS grants are discussed below.   SEISS Grant 4 Grant 4 of the SEISS is a departure from the previous grants, which were much vaguer when it came to what qualified as being ‘adversely affected’ by the Covid-19 pandemic. In order to qualify for Grant 4, you now have to prove a significant reduction in trading profits as a... Read more

CJRS: The final phase

Posted 17th May 2021 at 6:50 pm

CJRS

Launched at the start of the Covid-19 pandemic, the Coronavirus Job Retention Scheme (CJRS) has been an instrumental part of the government’s strategy to protect businesses and jobs during this challenging period. There have been some alterations to the CJRS along the way, and the scheme now provides furloughed and flexibly furloughed employees with grants equal to 80% of their ‘usual’ pay for their unworked hours.   The final phase of the CJRS runs from 1 May 2021 to 30 September 2021. To benefit from a grant in the final phase of the scheme, a claim does not have to... Read more

Benefits in Kind Tax Changes for 2021/22: Your essential guide

Posted 14th May 2021 at 7:33 am

In this blog, we outline the key benefits in kind tax changes that you need to know about for the tax year 2021/22. Look out for our other blogs detailing the changes to other types of tax this tax year.   Employer-reimbursed coronavirus antigen tests In addition to the existing National Insurance disregard which continues into this tax year, a statutory exemption will be introduced (with retrospective effect for 2020/21 as well as covering in 2021/22) to prevent an income tax charge arising where an employer reimburses an employee for the cost of a Coronavirus antigen test.   Home office... Read more

National Insurance Changes for 2021/22: Your essential guide

Posted 9th May 2021 at 12:08 pm

national insurance

In this blog, we outline the key personal tax changes that you need to know about for the tax year 2021/22. Look out for our other blogs detailing the changes to other types of tax this tax year.   The Class 1 National Insurance lower earnings limit remains at £120 per week. However, the Primary Threshold is increased to £184 per week and the Secondary Threshold to £170 per week, while the Upper Earnings Limit is increased to £967 per week. Both the Upper Secondary Threshold for under 21s and Apprentices also rise to £967 per week.   The Main... Read more

Corporation Tax & VAT Changes for 2021/22: Your essential guide

Posted 7th May 2021 at 8:55 am

corporation tax

In this blog, we outline the key corporation tax and VAT changes that you need to know about for the tax year 2021/22. Look out for our other blogs detailing the changes to other types of tax this tax year.   Corporation Tax The Corporation Tax Rate remains unchanged at 19% for the financial years 2021 and 2022. From April 2023 however, companies with taxable profits of more than £250,000 will pay corporation tax at a main rate of 25%. A small profits rate of 19% will apply to companies with profits of £50,000 or less. Companies with profits of... Read more

Personal Tax Changes for 2021/22: Your essential guide

Posted 4th May 2021 at 11:32 am

personal tax

In this blog, we outline the key personal tax changes that you need to know about for the tax year 2021/22. Look out for our next blogs detailing the changes to other types of tax this tax year.   Income Tax Allowances, Rates & Thresholds The Personal Allowance has been frozen for five years, remaining at £12,570 until April 2026. (Apart from those whose adjusted net income exceeds £125,140, who are not eligible for the personal allowance). The Married Couple’s Allowance has been increased to £9,125 for 2021/22. To be eligible for this allowance, one spouse or civil partner must... Read more

Diversity and inclusion in your organisation

Posted 27th April 2021 at 11:03 am

diversity

Businesses are more focused on diversity and inclusion (D&I) than ever before. Addressing the issues of diversity and inclusion not only show that you are a socially-responsible business, but will also be of benefit to you in that you will gain greater understanding of the diverse customer base that you serve. These factors will then make you a more attractive prospect to potential customers and clients, not to mention employees, helping you to further diversify your operations. In fact, a McKinsey research report from 2018 showed that greater diversity in the workforce results in more profitable organisations. While profitability shouldn’t... Read more

Customer Relationship Management

Posted 19th April 2021 at 9:38 am

customer relationship management

In this current challenging environment, managing the customers that you already have is the key to stability.   Winning new customers when you can’t easily go out and meet people, is challenging to say the least! It also almost always costs you money as well, whether that be marketing spend, or new customer discounts and incentives. Existing customers, on the other hand, already trust your brand and know what to expect from your business, so turning these into repeat customers should be a much easier, and cheaper, task. In order to develop valuable, long term relationships with your customers you... Read more

What is Reddit and how can you use it?

Posted 13th April 2021 at 12:01 pm

Reddit

You might have heard of Reddit recently, due to the Gamestop share price boom that was largely driven by an investment forum on the site. This hugely popular online forum allows users to create their own forums and chat groups.   Reddit combines web content, social news, a social network and a forum into one platform. Registered users of Reddit can contribute to forums with content such as text, video, links or images. All content on Reddit can be voted up or down by other members. This means that the best and most relevant content tends to be voted to... Read more

What are Easter Eggs?

Posted 7th April 2021 at 8:39 am

Easter Eggs

Easter Sunday has come and gone, and a fair few of us will have indulged in a chocolate egg or two. (Except for accountants, who wait a few weeks until they can pick them up in the sale..) But Easter Eggs aren’t always made of chocolate, and sometimes they’re not even eggs! What are we on about? Well, the term ‘Easter Egg’ is used to describe clues hidden in electronic media such as video. The idea is that viewers look for the hidden clues in the same way children would look for hidden chocolate on an egg hunt, hence the... Read more