Latest Blogs in General Practice
Ian Piper
8th July 2020 Summer Budget: What’s in it for SME’s?

As we all slowly unwind from Coronavirus lock-down and the end of furlough support rapidly approaches, Chancellor Rishi Sunak has taken the unusual step of making fiscal announcements in the Summer, to try and head off a recession. New initiatives, of interest to SME’s, include:   Job Retention Bonus – £1,000 bonus paid per employee…

Katharine Bebbington
29th June 2020 Companies House automatically extend year end

On 25 June 2020, the Corporate Insolvency and Governance Act 2020 received Royal assent.  As a result, Companies House have announced that for eligible companies they will automatically extend the filing deadline for 3 months because of Covid-19.  These are for companies with a filing deadline between 26 March 2020 and 29 September 2020.  This…

Jaimie King
24th June 2020 Accounting for government financial support during the Coronavirus pandemic

Many companies have been receiving financial support from the government during the Coronavirus pandemic, either through the furlough/job retention scheme, rates relief or grants.   The technical advice   Under UK accounting standards, income from the government should be recognised under one of two models, based on the nature of the grant as follows:  …

Ian Piper
18th May 2020 Covid-19: Companies House dissolutions now put on hold

Like many Government departments, Companies House have relaxed various compliance requirements to support businesses to get through this Covid-19 period. In their latest announcement, they are making the following temporary changes to their strike off policies:   Voluntary (Form DS01 submitted) Strike Off Applications – Process halted after notice published in London Gazette. Automatic Dissolutions…

Ian Piper
14th April 2020 Home Working: What expenses can employees reclaim?

As a consequence of the Covid-19 lock down, most employees who are able to work from home, and who have not been furloughed, are now working from their private study, spare bedroom, dining room table, etc. So what home expenses can these employees reclaim, tax free, from their employer:   Supply of a mobile phone…

Jaimie King
12th March 2020 Can’t file because of Coronavirus?

All companies must file their accounts with Companies House every year, and there is an automatic penalty applied if they are filed late.   Companies House have today released guidance regarding coronavirus. If you are unable to file your company accounts due to the virus, you must make an application to extend the filing deadline…

Emily Haines
29th January 2020 2020 Vision

  The Association of Accounting Technicians (AAT) recently published an article focusing on the accounting trends and changes that will shape 2020 (with content from Xero).   BREXIT – What will the significant changes be that will affect your business and your cashflow? Will your business have to look further into the future with management…

Ian Piper
22nd November 2019 2019 Growth: Missing in action?

(Data Source) As another year draws to a close, local SME businesses will be forgiven for looking forward to drawing a line under it. With 2019 sales growth barely nudging 1%, it has been a year of focusing on not slipping backwards, rather than the usual mantra of continually signing up new accounts.  When commentators…

Scott Bishop
20th November 2019 Postponement of planned Corporation Tax reduction

Boris Johnson has announced plans to postpone the cut in Corporation Tax to 17% (down from 19%) that was due to take effect from 1st April 2020 in order to save £6bn, stating that the money would be better spent on other ‘national priorities’,  including the NHS.   It is not clear when, or indeed…

Whitings LLP
8th October 2019 Sale of Lettings Agency

Whitings, The Corporate Finance Network’s representative firm in Suffolk has advised a well-established lettings agent on its sale to a national group.   The Whitings Corporate Finance team were approached by their client when they decided to explore opportunities to sell their agency. The team, led by Corporate Finance Partner, Chris Kelly, started the process…