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Self-Employment Income Support Scheme

Self-Employment Income Support Scheme

Claims for the third Self-Employed Income Support Scheme (SEISS) grant closed on 29 January 2021. Under this grant, the self-employed received up to 80% of average trading profits for November and December 2020 and January 2021. This meant that a maximum grant...
Accounting for import VAT on your VAT return

Accounting for import VAT on your VAT return

Following the end of the transition period, businesses registered for VAT can account for import VAT on their VAT return, often referred to as postponed VAT accounting. For most businesses, this means that they will declare and recover import VAT on the same VAT...
Why keeping adequate accounting records is important

Why keeping adequate accounting records is important

A recent investigation by the Insolvency Service resulted in the sole director of a Leicester clothing manufacturer being jailed for six months after failing to provide adequate company accounting records. The investigation found that the defendant had not kept...
Protecting your capital

Protecting your capital

Business owners in vulnerable sectors: predominantly retailers, leisure and entertainment trades, will have seen their hard-won capital all but exhausted by the needs to meet fixed costs when income generation has been restricted or eliminated by lock-down directives....
Can we supply the coming consumer bounce-back?

Can we supply the coming consumer bounce-back?

Will the Government’s endeavours to nail the COVID virus with the vaccine roll-out have the desired effect of opening up the UK economy, the easing of lock-down and a gradual return to “normality”? Fingers crossed… One thing is for sure, when...