FurloughVATBookkeepingGrantsQuickbooksTax free1.25% national insurance increase1.25% Tax increase5% VATAccountant costAccountsAdd salesAdding sale after customer has paidAdditional salesAppeal a penalty from HMRCBalance sheetBenefit in kindBookkeeping costBookkeeping serviceBounce Back loanBrandBusiness accountsBusiness growth plansBusiness rates cutCan not work due to lock downCash flowCashflowCashflow in businessCBILChancellor announced 26/5/2022Chancellor budgetChristmas BudgetCIS vat reverse chargeCorporation taxCorporation tax ratesCovi 19 loansCovid 19Covid 19 business supportCustomer has paidDifference between partnership and limited companyDirector remunerationDirector salaryDirector wageDirectors loan accountDividend taxEmployment allowanceExportsFiling tax returnFlexi furloughFree consultationFurlough extendedGood AccountantGovernmentGovernment funding for payrollGrants for business ratesHealth & Social Care levyHeating grantsHelp with bookkeepingHelp with heating homesI dont understand business accountsImportsIncome taxIncome tax ratesIncreased living costsIR35IR35 changes from April 2021January 2021 lockdownJob Support SchemeLate tax returnLeaving EULimited companyLoansLockdownLockdown restrictionsLockdown restrictions liftedMileageMinimum wageMoney inMoney outMonthly vatNational insuranceNovember 2020 lock downOff payroll workingOverdrawnOverdrawn directors loan accountP11dPartnershipPartnership and limited companyPay wagesPaying back directors loan accountPaying tax latePayrollPlanning ChristmasProfitProfit & lossQuickbooks tip for vat reverse chargeQuickbooks trainingRenovating propertyRules after leaving EUSales invoiceSales receiptSave for ChristmasSelf employedSelf employed grantsSelf employed supportSelf-employedSelf-employed or employedSelf-employed statusSocial care costStaffStudent loanSubcontractor taxSupport available January 2021 lockdownTaxTax allowancesTax efficientTax efficient wage for a Director 2021 2022Tax increaseTax penaltyTax rate 2021/2022Tax rate 2022/2023Tax return penaltyTax-free allowanceVAT on empty propertyVAT on renovatingVat reverse chargeVat rules after leaving EUWork out if someone is self-employed

How can I keep my Business going after Furlough ends?

“It’s life Jim but not as we know it….”

As once said in Star Trek, we continue to trek Covid 19 while restrictions are eased. We now must balance safety with normality and find a new normal. As lockdown eases further in July 2020 we have to find a way to move forward together, to survive and thrive. The Chancellor made the following announcements on 8th July 2020 listing all Grants, Price Cuts & Vouchers available to Employers, Families & Home Owners so:

  • Your Business can survive
  • You Keep your staff
  • Your home & family can thrive

How can I pay my staff after Furlough ends in October 2020?

Furlough support will end in October 2020. 

A new Job retention Bonus will be available at £1000 per employee you keep in employment between November 2020 to January 2021.
Conditions are:

  • Employees were Furloughed at some point during April 2020 and October 2020.
  • Employee must be paid at least £520 per month from November 2020 to January 2021.
  • Employee must be completing an actual job, so you are able to provide a job description.
  • Employee must be employed on 31.1.2021 with continued employment since coming off Furlough.

How you apply for the Job Retention Bonus:

  • It is projected applications will be open near to the end of January 2021.
  • Applications should be completed as soon as open.

What support can I get if I employ more staff?

The Chancellor announced the Kick Start Scheme.  The Government will pay employers 6 months wages + overheads in the region of £6500 if you employ a new member of staff aged between 16 to 24 years.  There is no cap on the number of employees you can have under the kick start scheme.

Conditions are:

  • This is a new job created for the new staff member
  • Working hours are at least 25 hours per week
  • Minimum wage applies
  • Employer provides on the job training and support
  • The job should start in Autumn 2020

Applications will be open on the HMRC website from August 2020

What support can I get if I employ a new Trainee or Apprentice?

You can receive £1000 to employ a new Trainee.


  • Must be a New Trainee
  • Trainee aged 18 to 19 years
  • On level 2 – 3 on training courses
  • For every new Apprentice you employ, you can apply for £2000 per apprenticeship.
  • If Apprentice is aged 25 or over, you can apply for £1500.

How will the Government help to create jobs so the economy will grow?

As we continue to live with Covid19, the Government have announced additional spending in infrastructure which will create jobs for people who work in sectors that help with developing:

  • Improvement to Schools
  • Better Roads
  • Better Hospitals
  • Better High Streets

How will the Government help to create jobs involved in climate & environment?

To create employment in the climate & environment industry the Government is giving incentives to Homeowners and Landlords to make energy-efficient improvements to their homes.

  • Households can apply for vouchers to cover two-thirds of the cost making energy-efficient improvements up to £5000 per household.
  • Low-income households will receive vouchers covering the full cost up to £10000

This will:

  • Save each household up to £300 in bills
  • Cut carbon
  • Create jobs

How will the Government help to keep people employed in the Hospitality & Tourism Industry?

To encourage families to support the Hospitality & Tourism Industry and restart this sector with confidence and job security:

VAT will be cut from 20% to 5% from Wednesday 15th July 2020 to 12th January 2021 for:

  • Food
  • Accommodation
  • Attractions
  • Eat in or Take away Hot Food

From the following establishments:

  • Pubs
  • Cafes
  • Restaurants
  • B&B
  • Hotels
  • Campsites
  • Caravan sites
  • Cinemas
  • Theme Parks
  • Zoos

To further help the Hospitality sector there is a “Eat Out to Help Out” scheme for August 2020 which means if families eat out they will receive a 50% discount up to a maximum of £10 per head for everyone in the party including children.

Conditions are:

  • Meals must be eaten at any participating business
  • Does not include alcohol

How can Businesses join this scheme?

Registrations for the scheme will be open from Monday 13th July 2020.

The Business can then claim the 50% discounted amount back from the Government with funds being paid into the business account within 5 days.

How will the Government help to keep people employed in the Housing & Property industry?

To secure jobs in the Housing and Property industry AND help people to continue to move home:

  • Stamp Duty Threshold is being increased from £125000 to £500000 to 31 March 2021

This means if you buy a new Primary Home you will pay the relevant stamp duty on any amount above £500000.  This will be an average saving of £4500 on fees when buying a new home.  This is not for second homes or Buy To Let homes.

What do you need to do?

  • Make sure you understand the help available for your industry.

  • Keep an eye on the HMRC website for all assistance applications to open.

  • If you are planning on making Green improvements to your home make sure you take advantage of the vouchers to help with the cost.

  • If you are planning on going on holiday or using the hospitality industry, make sure you are charged the correct VAT. 

  • If you are planning on eating out in August look out for the eating out discount.

  • If you are moving home, make sure you pay the correct stamp duty.

Contact us today for help and assistance.


This product has been added to your cart