Extra funding of up to £9,000 is now available for businesses in the retail, hospitality and leisure sectors via Adur & Worthing Council. Businesses eligible for the latest top-up funding announced by the Chancellor in early January can now register via the councils’ online portals. The funding is part of a range of support available…Read More
International Goods From 1st January 2021 goods entering the UK will be an import and postponed accounting will be introduced for worldwide imports. This will be better for cash flow as it will mean that VAT is not payable by a VAT registered business at the time goods arrive in the UK. This will mean…Read More
International goods From 1st January 2021 all goods leaving the UK will be a zero-rated export. If you use QuickBooks to keep your records, the VAT code to use is 0.00% Z – Zero rate VAT. It is expected that the customer will be the importer of record in the destination country and therefore the…Read More
As of the 5th November 2020, the UK Governments Furlough Scheme has been extended further by 5 months. Therefore, the new projected end date for the scheme is the 31st March 2021. And not to worry if you have not applied for this scheme previously, it is now available for new applicants. There is now…Read More
Should I claim homeworking allowance as a director, or should my limited company rent from myself as an individual? HOMEWORKING ALLOWANCE. Homeworking allowance is when you claim back certain expenses to cover the costs incurred when working from your home. Your employer can pay this allowance, and this will reduce company profits and so reduce…Read More
Coming into PJCO I had very little knowledge on what an accountancy firm looked like and ran however from being here for only a few days I have already been shown just how different my expectations were. Before coming to PJCO I believed that accountancy was just for processing all the numbers on an outdated…Read More
What has happened? On the 8th July 2020, the UK government announced that it would be introducing a temporary reduction in the rate of VAT for certain supplies of hospitality, holiday & hotel accommodation and admissions to certain attractions. They will be slicing the rate of VAT payable from the normal standard rate of 20%…Read More
Up until now, company directors have been able to furlough themselves and carry on doing their director duties, provided they are doing no income-generating activities. This is still the case, however, with the introduction of a new phase of the furlough scheme, they may wish to consider the option of ‘Flexible Furlough’. Here we explain…Read More
‘Classes’ is a feature of QuickBooks Plus in which transactions can be tracked by departments, product lines, customers, or any other segment of your business you’d like to keep track of. This is a useful feature for those businesses that would like to keep an eye on expense, income, and profit of certain segments of…Read More
File CIS returns The accounting industry has been evolving for the last 20 years, adapting to the new digital age. Cloud accounting is the practice of using accounting systems that are accessed online; this has been implemented for a variety of accounting purposes, giving us business owners easy access, better time efficiency, relevant reports and…Read More
The Coronavirus Job Retention Scheme – The End of Furlough? On the 29th of May, the chancellor announced some major new updates to the Coronavirus Job Retention Scheme to help get businesses back on their feet and employees back to work. Here we outline the latest changes and highlight what you need to know. Deadline…Read More
Replacement of business asset relief Rollover relief (ROR) allows the gain arising on the disposal of a qualifying business asset to be rolled over (i.e deferred) when the sale proceeds are reinvested in a qualifying replacement asset within a qualifying time period. This relief is both available to individuals and companies. For individuals The…Read More
The numbers behind the covid-19 pandemic The Coronavirus has pushed the world into a downward financial spiral and plagued global societies with financial uncertainty, loss and great sadness. Many international governments and health organisations are doing all they can to not only stop the spread but to also provide support and stability to those also…Read More
Look after your cash flow and it will look after your business More so now than ever, cash is extremely important to the success of your business. As we slowly come out of COVID 19, it will be vital to make sure you are making the most of your cash reserves, support loans and managing…Read More
The HMRC Job Retention Scheme Portal has been live for nearly two weeks now and the first applicants have started receiving payments. But with furloughing being such a new concept and the many updates to the guidance from the government, it can be difficult to understand. Here we look at the most important points. What…Read More
I have no use for bodyguards, but I have very specific use for two highly trained certified public accountants.
Elvis Presley
