When you first started out, you could easily manage your finances through being self-employed but as your business grows, it is worth looking at the benefits of setting up a limited company. Once the profits of your business reaches you around £50,000 it is worth considering moving over to limited Read more…
During the pandemic, the Chancellor Rishi Sunak announced details of a VAT deferral scheme in order to support struggling businesses. The scheme allowed businesses to defer their VAT between 20th March 2020 and 30th June 2020. Those outstanding VAT payments are due for payment by 30th June 2021. HMRC have Read more…
The Seed Enterprise Investment Scheme (SEIS) can help secure investment for your business. As a start-up business sourcing finance can be tough as traditional finance routes may view your business as risky. In 2012, the Government set up the SEIS as an initiative for private investors to invest in early Read more…
A new tax year starts today (6th April 2021) but what changes will affect your income? The income tax thresholds will rise again (the amount you can earn before paying tax). The personal allowance will rise from £12,500 to £12,570 and the higher rate will rise from £50,000 to £50,270. Read more…
Accountancy firm Clear Vision recruits Frankie Osborn to join the Romsey office as a Senior Bookkeeper. With previous experience of working both in-house for Serenity Holidays and for several other accountancy firms, Frankie will join the busy team in their Romsey office to provide much needed bookkeeping and payroll support Read more…
One of the schemes announced by Rishi Sunak at the beginning of the pandemic was the option for businesses to defer VAT owed between 20th March and 30th June 2020. Originally the VAT was deferred until 31st March 2021. HMRC announced the option that businesses could take on a new Read more…
The pandemic has caused pain for many businesses in the UK, the recent lockdown has meant that most businesses have had to close their doors until June 2021. As predicted the Chancellor Rishi Sunak, has announced further support measures to help businesses and a swifter and more sustained recovery is Read more…
With hospitality, hotels, gyms and leisure firms being hardest hit by the latest lockdown, the Chancellor Rishi Sunak has announced a package of restart grants worth over £5billion. In order to help businesses in these industries the scheme will be distributed by local authorities from April 2021. Eligible business will Read more…
From April 2021, the National Living Wage (NLW) and the National Minimum Wage (NMW) will see an increase. The Low Pay Commission (LPC) has recommended that the NLW should increase by 2.2% from £8.72 per hour to £8.91 per hour. The age threshold will also be amended from 25 to Read more…
Around £45bn has been borrowed by more than 1.4 million small businesses under the Bounce Back Loan scheme. The loans, valued up to £50,000, will now give small businesses the option to extend the repayment length from six years to ten years. The current scheme provides an interest free period Read more…
