Key dates and deadlines for small businesses

Running your own small business is hard work – you will find yourself trying to develop and grow your business, alongside managing the day-to-day operations acting as the finance, marketing, HR and sales departments – often all in the space of a few hours! To help you manage and keep on...

Construction Industry Scheme – be aware of the ‘trap’ when working with other contractors

The Construction Industry Scheme (CIS) sets out special rules for tax and national insurance contributions for those working in the construction industry. This includes companies, partnerships or self-employed individuals. The CIS applies to construction work and jobs such as alterations, repairs, decorating and demolition. Although the responsibility of operating CIS is mainly...

Why Accountants Are Essential To Your Freelance Success

As a budget-conscious freelancer you may be put off by the cost of hiring a professional accountant. You might see financial management as one of the tasks that fall within your freelance workload. However, you have the opportunity to relieve some of the pressure, saving time and money for investment...

Further grants for the self-employed

The Self-Employment Income Support Scheme (SEISS) has provided grant support for self-employed individuals whose business has been adversely affected by the Covid-19 pandemic. An extension to the scheme was announced at the time of the 2021 Budget. As a result, it will continue to provide support until September 2021. Three grants...

What tax do I need to pay by 31 January 2021?

The self-assessment tax return for 2019/20 must be filed by midnight on 31 January 2021. If you miss this deadline, you will automatically receive a late filing penalty of £100, however HMRC have just released guidance that the filing penalty will be wavered providing the tax return is filed before...

Maintaining your NIC contributions record during Covid-19

The Covid-19 pandemic has meant that many people will suffer a reduction in income in 2020/21. Not all individuals are eligible for support under the Coronavirus Job Retention Scheme or the Self-Employment Income Support scheme, and those who are eligible for the grants will not generally receive their full pay. Where...

SEISS: Self Employed Can Benefit From Second Stage Grant

Claiming the second grant under the SEISS Claims for the second grant under the Self-Employment Income Support Scheme (SEISS) can be made from 17 August 2020 onwards. Who can claim? A self-employed individual or member of a partnership who meets the eligibility criteria and whose business has been adversely affected by Coronavirus on...

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