One year of the pandemic down and still there appears a lot still to be learnt about the virus as COVID-19 has morphed into a whole new dodgy variant swiftly infecting the masses. But life cannot come to a standstill and so despite lockdowns and restrictions people find that they simply can’t put their lives on hold – the show must go on – work must contin...

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February 04, 2021

Accounting for Start-ups can be difficult if they do not take care of certain things. Below are the Tips for The Self-Employed Business Owners.


You need to keep an eye on the deadlines. It may seem easy to remember all the dates. However, it is better to write them down and set reminders. Different dates for VAT, SA and YE may ...

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January 27, 2021

Recently in UK Chancellor Rishi Sunak is planning to pull out the corona virus business loan schemes till the end of March and furlough scheme until the end of April 2021 to hold up UK businesses as restrictions continue. The Budget is set for 3rd March 2021. As more areas of England delve into tier three restrictions today, Chancellor Rishi Sunak has extended the coro...

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January 08, 2021

Recruitment has always been a very cumbersome and challenging process for businesses and more so for start-ups and even greater a challenge is to hire the right candidate with the right skill-sets. In spite of these challenges, an effective recruitment process is highly imperative for any start-up and hence the start-up should invest well in the recruitment process. However...

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January 06, 2021

Despite it being a year since the virus was first spotted, COVID-19 is still very much a part of our lives and we have had to adjust ourselves to this new and masked ‘normal’. However, the pandemic and the resulting lockdowns has struck the death knell for many a business. Over 87 percent of businesses (especially small businesses) have found themselves struggli...

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January 04, 2021

As astounding as it may sound, only a minority of 30% small business entrepreneurs feel that accounting services are required. Since a penny saved is a penny earned – a trend that is bound to pick up weight due to Covid-19 – it appears that even more business owners have joined ranks in the misconception that they are actually ‘saving’ themselves on ...

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January 01, 2021

On 12 November 2020, as part of the draft clauses of the Finance Bill 2021 to prevent abuse of Research and Development (R&D) tax relief for small and medium-sized enterprises, policy has been proposed. The policy is to prevent fraud activity as well as abuse by SME companies who claims the payable ...

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December 28, 2020

The Account is considered as the base and pillar of any organisation. The accounting information should be carefully handled by a concerned person as a responsibility or the wrong information may lead to unfruitful result. The accounting services are cost effective, improve efficiency and practice management b...

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December 23, 2020

The impact of COVID 19 has been felt across the globe. Individuals, Families, Businesses, Governments have all been severely affected by this pandemic. UK businesses have not been untouched by this. Among them, the hardest hit has been the SME sector. Almost 50% of the total revenue generated in the UK and around 45% of its labour force is contributed by the SME sector.


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December 21, 2020

The third round of coronavirus support from the government worth up to £7,500 can be applied now by self-employed workers.

To assist businesses negatively impacted due to Covid-19 government introduced self-employment income support scheme (SEISS). SEISS gives grants and help those self-employed workers who cannot earn what they used to because of the pandem...

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December 19, 2020

Most small business owners are looking towards avenues to save money. At such a time extraneous expenses are things that one would like to avoid. Considering this, small business owners like to avoid work that is given outhouse thinking of the DIY to do it yourself principal. But can do it yourself always be the ideal option especially when considering specialised subjects ...

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December 14, 2020

When Darwin propounded the theory regarding the survival of the fittest, he surely must not have thought that what stands true for the business world also stands true for the business one. The Covid pandemic has taught business owners a thing or two about the importance of being able to remain afloat especially during stormy waters. With the increase in competition one quit...

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December 11, 2020

The disturbance created by this pandemic has been very challenging for all the businesses. And it’s crystal clear that associated problems with Covid-19 will be there for longer than expected. By taking appropriate action to support your clients and offer them valuable service will not only help you to be trusted accountants but also put you in their trusted advisers ...

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December 07, 2020

The pandemic has caused large-scale loss of lives and severe human suffering worldwide. It is the largest public health crisis in the living memory of mankind, which has also created a major economic catastrophe. Production was at halt which affected many countries globally, a fall down in consumption and confidence, and negative response of stock exchanges to heighten the ...

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December 02, 2020

Winter has finally arrived and with it the fear of a fresh or second wave of infections all thanks to the coronavirus pandemic. With businesses in a virtual shut down mode due to the lockdown and sales pummeling it appears that the only thing business owners can do is to put on their thinking caps and work out ways to inject life into their business. A re-think on your pres...

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November 27, 2020

There have been many changes that the government has been forced to make in light of the Covid 19 pandemic. In fact, the severity and the infectiousness has been disarming as one can see by the frequently changing government policy. On one hand the government was preparing for businesses to get back to some semblance of economic normality, and on the other, we find that a f...

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November 25, 2020

What do you mean by SEISS?

UK Government has supported self-employed because of the impact of pandemic Coronavirus on their business with a scheme known as Self-Employment Income Support Scheme (SEISS).

Due to recent outbreak, those self-employed individuals have suffered a reduced demand and are unable to continue with their business te...

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November 23, 2020

The winter of 2020 has been predicted to be a difficult winter for businesses worldwide with the pandemic continuing to raise the toll of those infected. Considering the imposed lockdowns and the problems businesses are facing retaining their current employee base, it is no wonder that the government has already thought ahead on how to save jobs. With the economy dwindling ...

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November 06, 2020

Due to the pandemic situation business accounting has taken on a whole new light. The constantly changing grants, loans and government schemes and all the updates that keep pouring in, it has become increasingly difficult for employers to stay abreast with the flurry of change. The government realising tha...

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November 04, 2020

Winter Economic update was delivered on September 24, 2020 by Chancellor Rishi Sunak. It unveils a new package of Government support for Covid 19 affected businesses and employees.

To quote Chancellor Rishi Sunak -

“There has been no harder choice than the decision to end the furlough scheme. The furlough was the right policy at the time we introdu...

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November 02, 2020

The Job Retention Scheme so far has managed undoubtedly to save quite a few jobs and stop the economy from suddenly crashing with mass redundancies. With the furlough scheme gradually winding down the question that the government faced was what to do with the 2.2...

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October 30, 2020

There is much excitement when you think of establishing a new start-up but there are many challenges as well that need to be dealt with. One of the first challenges is to answer the question ‘What will be the most optimal legal structure for my business’?

The decision you make is significantly going to impact the amount of administrative work you are g...

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October 28, 2020

Trying times are what bring out the best and worst in people. Perhaps the current economic situation has never been hit this bad. With the world hiding behind its doors due to the virus and people being forced to leave shelter and battle the odds there has been a sinister significance added to the old phrase. The show must go on. Indeed, it appears that now that we will hav...

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October 16, 2020

We are in the middle of pandemic situation and uncertainty is a synonymous of all the human lives for the most part of the world. Global economic is suffering because of Covid-19 outbreak. The virus has impacted the lives of millions and continues to spread with an alarming speed. There is significant slowdown in the trades and services. Economic damage is clearly visible a...

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October 12, 2020

With the extension of the coronavirus business interruption loan scheme there has indeed been a sigh of relief. This welcome note was struck on the 24th of September 2020 when the news of the extension was released to continue till the 30th of November 2020. This has been a very transient year as far as business finances have gone, things have been so dynamic that Read more

October 09, 2020

As businesses struggled to find cover the government has been persistent in trying to ensure that no one feels left out in their spate to ease the burden that has fallen so ominously due to the coronavirus pandemic. The Kickstart Scheme so close on the heels of furlough is another scheme that is targeting employment and specifically employees as its objective. Just as furlo...

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October 07, 2020

The Covid-19 outbreak has negatively impacted the businesses and livelihood of almost all the self-employed people in the UK. Therefore, the announcement of the Self-Employment Income Support Scheme by the Chancellor Rishi Sunak brought a big sigh of relief among the Self-employed workers, who have suffered adversely.

Originally two grants were announced u...

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September 18, 2020

At the International Trade Centre, we were gearing up to prepare our main stakeholders – micro, small and medium-sized enterprises (MSMEs) – for the challenges ahead. We did not expect, however, that a major crisis would hit so rapidly, and that it would be so different from anything experienced in this century thus far. Yet when asked about corporate governance...

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September 16, 2020

What's the interruption: Disruption is a process of preventing something unusual. And present your things better and it doesn't require expensive casino shows or big sets. All this just needs a good idea and an endorsement of good presentation.

Basically, the disruption is related to the changes we bring into our business now this change can lead you to ne...

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September 07, 2020

The virtual world has opened out like a Pandora’s box all thanks to Covid 19. Now it is not just getting the accounts right that matter, but how techno savvy you are also determines how well you are able to retain those clients. Virtual presentations can be seen as both a boon and a curse depending on which end of the spectrum you are. But what you need to remember wh...

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September 04, 2020

Coronavirus (Covid-19) has created a havoc around the world. A disease which looked simple on papers took lives of around 20 million people globally. It broke the backbone of world economy which is still in the process of redemption. Almost all the countries are under the threat and hoping to bring the life back into normalcy. In this pandemic situation, various businesses ...

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September 02, 2020

Covid-19 has taken most businesses for an unpleasant toss but now with the lockdown opening there is really nothing much we can do aside from safe practices and trying to pick up the pieces. There is an obvious risk in re-starting or in even running a business during this pandemic, however, it isn’t possible to simply lock the door and throw away the key for more reas...

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August 10, 2020

The coronavirus pandemic has taken a toll not only on world health but on businesses as well. The government with the introduction of the Coronavirus Job Retention Scheme(CJRS) earlier this year in March managed to save many employers from engaging in mass redundancies. However, the main criteria to furlough till the end of June was the assumption that the employee was &lsq...

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August 06, 2020

When furlough started earlier this year in March it is doubtful that employers expected it to run this long. However, no one can deny that it has been a welcome relief especially for employees who feared instant dismissals. Unfortunately, since for now the coronavirus appears to be quite content to stay the scheme faced an extension to October 2020. But there have been sign...

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June 19, 2020

Undoubtedly, most of the businesses are dealing with great difficulties due to the COVID19 pandemic. Therefore, to help the companies to cope with this period of financial disruption, on 20 April, the Chancellor announced the Future Fund Scheme. Via this scheme convertible loans ranging from £125,000 to £5 million will be issued to innovative companies that main...

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June 18, 2020

In March 2020 the UK government announced the COVID-19 Statutory Sick Pay (SSP) Rebate Scheme to support the small and medium-sized businesses affected by the COVID-19 pandemic. Under this scheme, small and medium-sized employers, with fewer than 250 employees, will be able to apply to HMRC to recover the costs of paying coronavirus-related SSP. The Coronavirus Statutory Si...

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June 02, 2020

Businesses are facing hard-hitting troubles due to the global outbreak of COVID-19 pandemic. Many small business owners are considering getting grants to fund their businesses. The good news is that the government has set out tailor made measures to facilitate the public services, people and businesses during this trying period. 

Quantum of funding pr...

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May 14, 2020