Posts by Kath Hiscock

COVID-19…Introducing the Job Support Scheme

What you need to know… Many accountants and payroll service providers look forward to the end of the payroll tax year in April but in 2020 we were looking forward to 31 October 2020, when the Coronavirus Job Retention Scheme ended but it appears that Chancellor Rishi Sunak had different ideas and announced the Job Support Scheme which will commence from 1 November 2020. The government were under pressure to provide further support to employers when more lockdowns were inevitable during the winter months and this was their solution. Whilst many businesses have largely managed to return to normal levels
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Covid – Did you make the right business decision?

Covid and the change in the business community has brought some things to the fore for many business owners. Choosing who to ask to work from home, who to furlough and who can’t you work without? Can your business survive financially, is there still a market for me and can I, should I change my business model? Our experience from talking to our clients throughout the pandemic is that business owners didn’t really think about it. They panicked and just put everyone on furlough or asked them to work from home. We suspect that this was the wrong decision for
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Tax-efficient Ways to Extract Profit from your business

Part 2 We’re often asked by our clients how they can best extract profits from their company without falling foul of the dreaded Tax Man. Completing company accounts isn’t and should never be just about ticking the compliance box for the company, it should also be about the owner’s aspirations.  That’s why during our regular reviews with our clients we look at where the business is, where the Director/Owner is, what they want to achieve and how we can help them reach those goals. In this installment we look at charging your company – Rent. If you personally own a
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Tax-efficient Ways to Extract Profit from your business

Part 1 We’re often asked by our clients how they can best extract profits from their company without falling foul of the dreaded Tax Man. Completing company accounts isn’t and should never be just about ticking the compliance box for the company, it should also be about the owner’s aspirations.  That’s why during our regular reviews with our clients we look at where the business is, where the Director/Owner is, what they want to achieve and how we can help them reach those goals. In this installment we look at the most obvious method – Salary. It seems quite simple,
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