Tag: Michael Bell and Co

Jun 20 2020 June 20, 2020 June 12, 2020 NoComment by admin

Mortgage payment holiday set to be extended until October 2020

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Homeowners who are struggling to pay their mortgage due to COVID-19 are set to be given a further three-month extension on their mortgage payments. For those homeowners who have paused their mortgage but now wish to resume payments, they will be given various options to help make these more manageable. One of the proposed options will…

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Jun 12 2020 June 12, 2020 June 12, 2020 NoComment by admin

UK SMEs face complicated recovery

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Research for Accountancy Age highlights disparity between SMEs across the UK as they begin to emerge from lockdown. Over one-third of small-to-medium sized businesses (SMEs) have been “completely disrupted” by the pandemic, according to new research by FreeAgent. Overall, 87 percent of surveyed SMEs said their business had suffered due to coronavirus, with further research…

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May 23 2020 May 23, 2020 May 12, 2020 NoComment by admin

Bounce back loans launch for small business

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A report has suggested that more than 69,000 bounce back loans for small businesses worth over £2bn have been approved during the first 24 hours of the scheme. The bounce back loan scheme offering small businesses easy-to-access loans of up to £50,000 officially opened on 4 May, with the cash promised within days. The seven…

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May 12 2020 May 12, 2020 May 12, 2020 NoComment by admin

Coronavirus Update: Tax appeal deadlines extended

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HMRC has extended the period available for taxpayers to appeal a tax decision by an additional three months, in light of the current pandemic. Under normal circumstances, HMRC writes to tell individuals if they can appeal, and they usually have 30 days in which to do so. Updated guidance now states that if an individual…

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Apr 29 2020 April 29, 2020 April 29, 2020 NoComment by admin

More than 500,000 UK Companies in Significant Financial Distress

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509,000 UK companies are in significant financial distress—the highest number ever measured. The coronavirus lockdown has seen the largest quarterly increase in the number of businesses in significant distress since the end of 2017, growing by 15,000 companies. This figure is expected to increase throughout Q2 as COVID-19 restrictions continue. The number of critically distressed…

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Apr 08 2020 April 8, 2020 April 22, 2020 NoComment by admin

Coronavirus Updates for Accountants

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17 April 2020 HMRC emails two million eligible businesses login details for furlough portal Government extends furlough end date to 30 June at £50bn cost Confusion over private school fees and covid-19 lockdown closures 16 April Top tips: furlough and the Coronavirus Job Retention Scheme FCA remodels business plan to address coronavirus challenge Higher rate…

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Jan 25 2020 January 25, 2020 January 29, 2020 NoComment by admin

Bookkeeping: Capturing and organising receipts

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Keep your business receipts tidy and organised using the tips in this blog to make completing your tax return a cinch. Here are our top tips for quickly and efficiently compiling, organising, and storing your business receipts. Make notes – Get into the habit of writing a quick note on receipts about what they are…

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Jan 15 2020 January 15, 2020 January 29, 2020 NoComment by admin

What is an exit strategy and why do I need one?

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All good things must come to an end, and there will come a time in your life when you’re ready to either start playing a smaller part in the running of your business or say goodbye to it forever. Having a well thought out exit strategy already in place will help you to sell or…

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Dec 11 2019 December 11, 2019 January 29, 2020 NoComment by admin

Bookkeeping tasks to complete in January

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January is a great time to review your bookkeeping processes and get your business’ finances organised for the new year. For many businesses, January is a quiet time of year that is best used to review performance and processes and plan and prepare for the year ahead. Complete the following bookkeeping tasks in January to…

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Dec 05 2019 December 5, 2019 January 29, 2020 NoComment by admin

Plans to cut corporation tax put on hold

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Prime Minister Boris Johnson has announced that the planned cuts to corporation tax are to be put on hold. On 1st April 2020, corporation tax was due to fall from 19% to 17%. However, in the run up to the December general election, Conservative party leader Boris Johnson has announced that this cut to corporation…

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