Blog

Creating a Risk & Contingency Strategy

Posted 11th May 2020 at 8:29 am

risk

If recent times have taught us anything, it’s how quickly our normal way of life can change! For businesses, the need to have spent some serious thought on risk analysis and contingency planning has never been more important. While it’s never possible to completely risk-proof your business, as navigating the extreme measures of the COVID-19 global lockdown have shown us, it is always worthwhile coming up with a plan to mitigate for risks that might derail our businesses in the future.   Risk Analysis Risk analysis is the process of identifying and analyzing potential issues that could negatively impact businesses,... Read more

Pivoting & Repurposing a Business

Posted 6th May 2020 at 5:49 pm

It is no secret that Covid-19 has had a big impact on many SMEs in the UK. A recent study by the Office for National Statistics showed that nearly 40% of businesses in the UK had a substantially lower turnover. With the current level of disruption likely to remain for some time, many businesses are adapting their practices to continue trading in some form. For businesses which have been negatively impacted by Covid-19 and are considering how to adapt, they have two main choices: Continue trading – providing the same product / service in broadly the same way to the... Read more

How will coronavirus change working practices?

Posted 27th April 2020 at 3:43 pm

After almost 6 weeks of lockdown, companies and employees are used to the ‘new normal’ of remote working. But what will the lasting impact of coronavirus be on the way businesses are run?   Business Travel  With travel restrictions likely to remain in place long after lockdown has eased, companies are facing a long period of using video conferencing technology to keep in touch with clients, suppliers, and colleagues across the world. While these technologies are no substitute for building relationships face-to-face, businesses are likely to see that they can save money and time by taking at least some of... Read more

Be a Homeschool Hero!

Posted 21st April 2020 at 7:58 am

homeschool

Many of us are now in the position of supervising our children’s home learning whilst also trying to do our own jobs. This is no easy task, but fortunately Liz from our Marketing Department used to be a Primary School Teacher, and is on hand with some advice for those of you who are taking on the challenge to become homeschool heroes!   Stick to a structure It can be tempting to try and be flexible about when and how your children learn at home, however children actually find routines helpful to their learning. Having a routine that in some... Read more

For your viewing pleasure: films about accountants!

Posted 14th April 2020 at 8:53 am

films

As we enter our fourth week of lockdown, you might be struggling for entertainment. Luckily for you we have compiled a definitive list of the best films about accountants for your viewing pleasure!   1. The Shawshank Redemption Undoubtedly the greatest film ever to feature an accountant in a lead role, The Shawshank Redemption is a sweeping, dramatic tour-de-force which everyone should watch at least once in their lifetime. And given that we’re all in lockdown, we’re in the perfect state of mind to empathise with a prison drama…   2. The Producers If you’re more into comedy films then... Read more

Mindfulness for Beginners

Posted 6th April 2020 at 2:21 pm

mindfulness

In these troubled times, many of us are feeling stress and anxiety in a way that we haven’t experienced before. The practice of ‘mindfulness’ can help to alleviate and cope with stress and anxiety symptoms, but where is the best place to start to become more mindful?   Headspace Headspace is an extremely popular app which teaches you how to meditate. It has many different courses depending on what type of meditation you want to try, and what problems or challenges in your life you want to overcome. It also has a sleep section with calming music and sleepcasts if... Read more

Working from Home: Protecting your employees’ mental wellbeing

Posted 25th March 2020 at 8:46 am

working from home

With the Government recommending those that can, work from home, it is important to note that this is not an ideal situation for everybody. While some will relish the autonomy, and the freedom of ditching the daily commute, for others working from home can put their mental health at risk. They may experience feelings of isolation and disconnection, leaving them with low mood. Conversely, they may feel pressure to “to appear busy” or to be online throughout the working day, causing stress. Put simply, working from home doesn’t work for everyone.   So, what do the experts recommend? Provide advice about... Read more

Government help for SMEs coping with Coronavirus

Posted 15th March 2020 at 2:25 pm

coronavirus

This information was last updated on Friday 27th March 2020 at 10.30am. Further updates will follow as new measures are announced. Please join our mailing list here to receive updates straight to your inbox.   In the Spring Budget, new Chancellor Rishi Sunak announced £30bn of measures to shore up the UK economy against the coronavirus crisis. In this blog we look at the help being offered specifically to Small Businesses and the Self-Employed to insulate them from the economic impact of the pandemic.   Support for workers & employers dealing with sickness absence Statutory Sick Pay (SSP) will be... Read more

Up, up and away with Cloud Accounting!

Posted 11th March 2020 at 8:47 am

cloud accounting

What is Cloud Accounting?  Cloud Accounting is a web-based software which you can access anywhere, anytime and through any device, giving you more flexibility to run your business than traditional bookkeeping processes.   Who HAS to use Cloud Accounting?  If your business is VAT registered with a turnover above the VAT threshold then you have to file your VAT digitally. Manual records and spreadsheets are no longer accepted, and these businesses must keep digital VAT accounting records in order to comply with current legislation.   Why should other businesses use Cloud Accounting?  The benefits of Cloud Accounting include real-time reporting... Read more

Capital Gains Tax on Residential Property: Changes you need to know!

Posted 4th March 2020 at 8:58 am

Until now, reporting property disposals and paying any resulting capital gains tax (CGT) was not due until the self-assessment deadline, which for UK-residents could be up to 22 months after the disposal took place. However, with effect from 6 April 2020, disposals of UK residential property on which CGT is due will have to be reported and the tax paid within 30 days of the disposal completion date (not the contract exchange date). Second homes or rental properties owned by individuals will fall under this new deadline, however the deadline does not apply to gains that are covered by Principal... Read more