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Coronavirus Job Retention Scheme Update

On the 29th May 2020, the Chancellor announced more details about the Coronavirus Job Retention Scheme (also referred to as the furlough scheme). This post outlines the changes that will be put into place starting from the 1st July 2020, as well as further changes that are planned for the coming months.

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HMRC Self-Employment Income Support Opens on 13th May

The Self-Employment Income Support Scheme (SEISS) opens on the 13th of May 2020. This new scheme is designed to provide income support for self-employed workers who have been adversely affected by the coronavirus (COVID-19) outbreak. Read on to find out if you’re eligible, how much you could claim, and how to apply.

Coronavirus: Support For The Self-Employed

The outbreak of coronavirus COVID 19 is having a significant impact on self-employed people across Derby, Nottingham and the wider United Kingdom.

The UK Government has announced some measures to support the self-employed at this time. You can find a list of support that is currently available below, with links to official government resources. 

Coronavirus: Small Business Grants, Loans & Advice

The outbreak of coronavirus COVID 19 is having a significant impact on businesses across Derby, Nottingham and the wider East Midlands area due to the disruption caused by social distancing measures.
The UK Government has announced several funding options to support businesses at this difficult time. You can find a list of available business loans and grants below, with links to official government resources. 

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UK Budget 2020: The Key Points

On 11th March 2020, Rishi Sunak announced the new UK budget. He presented several announcements that are set to affect businesses, the self-employed, and working families. Here is a summary of the main points from the latest budget.

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Planning for the New Tax Year

As we near the end of the tax year, it is important if you are self-employed to start planning for the new tax year. This guide explains when the tax year ends and provides a year-end tax planning checklist.

We have provided a summary for the main 2020/2021 tax year changes to help guide you through the main changes that will come in to force. Taking action at the start of the tax year may give you an advantage. Here’s what you need to know about the 2020/2021 tax year. 

What Is IR35 And When Does It Apply?

IR35 is a piece of legislation designed to counter tax avoidance. It is used to decide if contractors are actually contractors or are just disguised as an employee for tax purposes. This article will help you understand the IR35 legislation and provide tips on if it applies to you and how to be compliant.

tax return documents

How to Complete a Self-Assessment Tax Return

A self-assessment tax return is the form used by HM Revenue and Customs (HMRC) to collect income tax from individuals. Whilst income tax is deducted from your salary automatically if you work for a company, most people who are self-employed must complete one each year.

This guide will explain who needs to complete a self-assessment tax return, when they’re due, and how to complete one (with a handy checklist).

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How Long Should You Keep Financial Records For?

The purpose of a document retention policy is to establish how a company should keep and maintain its documents such as financial records and insurance documents.

In this guide, we will advise you on how long you should be keeping personal and business financial records. It will also explain the process of drafting a document retention policy for your business.