Eat Out to Help Out scheme
The Eat Out to Help Out scheme to help encourage the struggling restaurant sector was announced as part of the Chancellor’s Summer Economic Update earlier this month. The scheme is designed to help restaurants recover from the effects of the lockdown. The scheme officially launches on 3 August 2020
Trading online
High Street retailers will have watched with dismay as competitors take their market share – not by businesses in their local business community – but globally, as consumers in the UK switch their attention from shopping trips to online retailers.
In the coming months, and perhaps longer term,
Tax and accounts
If you are self-employed, as a sole trader or in partnership, the profits from your business are treated as part of your income for Income Tax and self-employed National Insurance purposes. As a consequence, the amount of tax payable on your self-employment is difficult to define in isolation and is
Job Retention Bonus
One of the measures announced by the Chancellor, Rishi Sunak in his recent Summer Statement was the introduction of the Job Retention Bonus. This bonus is designed to encourage employers to bring back furloughed workers as the benefits of the Coronavirus Job Retention Scheme start to taper before
What if?
Any planned change will be targeted at a specific issue – say, reduce sales prices to win more customers and increase footfall – but actions of this kind have knock-on effects. For example, what effect will the proposed reduction in sales prices have on profits, cash-flow and solvency?
Many of
Winter lock-down?
We have made passing references to business planning in recent articles published to this newsfeed; about the need to secure and plan your bank resources to better cope with the disruptions caused by COVID-19.
Government seems to be preparing us for a further increase in the rate of infections once
Summer Statement
The Chancellor, Rishi Sunak continued with his campaign to support the business and jobs community today, 8 July 2020, as firms engage with the disruption caused by the coronavirus outbreak and the measures taken to control infection.
The main thrust of his announcements during his Summer Economic
SEISS further update
HM Treasury has published a further Treasury Direction made under the Coronavirus Act 2020, ss. 71 and 76, which modifies and extends the effect of the Self-Employment Income Support Scheme (SEISS).The Direction mainly deals with the expansion of the SEISS for a final three-month period to 31 August
The new reality
It may be some time before we could state with some certainty that it was back to business as usual; usual being the business environment before the arrival of Coronavirus.
What has changed?
The major change has been the dampening of demand due to lock-down and other government interventions aimed
What is working capital?
Accountants would say that working capital is the difference between current assets and current liabilities. It is the capital of a business used in day to day trading operations.
Current assets are generally those that can be converted into cash reasonably quickly, money in your bank account. For