Rishi Sunak has announced a further £4.6 billion in new lockdown grants to support those businesses within the retail, leisure, and hospitality sectors, by giving them a one-off grant worth up to the value of £9,000. Help has also been provided in the form of a £594 million discretionary fund [...]
It has now been confirmed that the Coronavirus Job Retention Scheme has been extended until 31 March 2021. From 1 November 2020, employers can claim 80% of an employee’s usual salary while they’re in furlough, up to a maximum of £2,500 a month. Any employee that was employed and on [...]
If you’re a landlord who lets a property through Airbnb then listen up! HMRC have complete visibility of those lettings (past and present), and so have a think back to your tax returns, and whether all of your income has been declared. If not then now is the time for [...]
Today we have completed on the acquisition of Bell & Co, an accounting practice based in Eastleigh, Hampshire. We love looking after local people and businesses for their accounting needs, so we extend a warm welcome from Vantage Accounting. And with previous Bell & Co owner Jim Bell and team [...]
Rishi Sunak today announced that the government will cover up to two thirds of workers' wages if their hours have been reduced due to the coronavirus pandemic. It is hoped that the ‘Jobs Support Scheme’ will help to reduce the millions of job losses expected when the furlough scheme ends [...]
We are delighted to announce that our small business accounting brand Stilwell Gray has been rebranded as Vantage Accounting as of September 21st 2020. Launched in 1995, Stilwell Gray has since grown to a firm with offices in Winchester, Totton and Ringwood, providing services to a variety of businesses nationwide. After [...]
The government today announced what they refer to as their next step in rebuilding the economy. Their focus is very much around preventing unemployment whilst gradually stopping the furlough scheme, boosting the hospitality sector and kick starting the housing market. The measures announced are: Furlough bonus £1,000 bonus for keeping [...]
The flat rate scheme for VAT was introduced by HMRC in 2002 to make life easier for small businesses when accounting for VAT. The scheme's name is often abbreviated to VAT FRS. If you are not using the Flat Rate Scheme, the amount you pay to HMRC each quarter is [...]
Many of the measures announced by the government to help businesses during the Covid-19 (Coronavirus) pandemic involve grant payments to business owners. But how do you account for grant payments, and what taxes are due? It is important to understand the accounting treatment needed, and indeed whether income is actually [...]
Under the Government’s Coronavirus business support measures announced this week, it has been indicated that some Limited Company contractors may be covered by the ‘Job retention scheme’ and therefore can furlough themselves if unable to work due to Covid-19. There is a distinction in law between a director with a [...]