Latest Business Support

In this blog series I am going to be talking about “All Things Xero” from what package you should choose to reconciling a bank.   My blogs will be coming out once a week from Friday 5th November so make sure you keep look out for them.   I will cover a variety of topics…

You can now assign bills to customers in Xero!   This makes it easier to allocate expenses occurred during a job to the correct customer.   Perfect for Estate Agents, event planners and more.   When creating a bill to pay onto Xero there is an option to ‘assign the bill to a customer’. You…

From Monday 18th October 2021, clients using Sage50 Accounts will be sent a software update for version 28.   Some of the new features of the software:   New – customisable business dashboard showing you key business information, without the need to run numerous reports New – access the Sage 50cloud Accounts Help Centre directly…

As we are hopefully now at the start of the end for Covid related business activity disruption. The accounts of local SME’s are now starting to show part of the damage they have experienced through the lock-downs and associated restrictive measures. The overall effect upon turnover for the year-ends of 2020 has not been as…

This half yearly payroll update: September 2021 Looks at: Abolition of early year updates Whitings LLP  outsourced payroll Modulr faster payment system Changes in right to work regulations Terminal changes to CJRS Payrolling benefits in kind Pensions dashboard programme Reform of statutory sick pay New fuel rates Freeports and employer’s NI holidays Benefits of using…

When COVID directly impacted upon the UK in Spring 2020, the Government introduced a range of measures specifically targeted to help SME businesses survive the expected period of financial strain. Such businesses should now be planning ahead for when this support is gradually withdrawn: 21-Jun-21 Deadline for arranging with HMRC when to repay COVID related…

Making tax digital (MTD) for income tax is being delayed, originally due to come in from 6 April 2023 this has now been delayed. New proposed timetable: 6 April 2024: MTD for individual landlords with >£10k pa of rental income. 6 April 2025: MTD for general partnerships. No sooner than 2026: MTD for corporation tax.…

From 1 October 2021, to be eligible to apply for public sector contracts over £5m pa, suppliers must have Net Zero Carbon Reduction Plans in place. These will be required to demonstrate a commitment to achieving Net Zero by 2050 in the UK:  Taking Account of Carbon Reduction Plans in the Procurement of Major Government…

Deferred tax is a provision on the balance sheet for timing differences in tax and accounting treatment of certain items, and is measured at the rate of tax that the differences are expected to reverse in the future.   In recent years, deferred tax has been measured at the current corporation tax rate of 19%,…

  There is a new support programme, DRIVE, that can result in grants of up to 40% of total project costs for businesses in Norfolk and Suffolk that wish to undertake projects that primarily create new employment within the rural economy. Grants can be up to 40% of total project costs with a minimum grant…