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Hugh Davies News

Covid Grants Update

Covid Grants Update

The situation regarding grant availability has been rather confusing since Tier 4 restrictions were introduced on 5 January. To make things clearer for you we have summarised the current situation. As previously all funding will be through the local councils.

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Coronavirus support update

Coronavirus support update

There have been a lot of changes and tweaks to government support as we've entered the second wave of the pandemic. This is just a quick summary of the financial support now available...

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Have you considered the impact leaving the EU will have on your business?

Have you considered the impact leaving the EU will have on your business?

With the UK leaving the European Union in less than a month, have you considered how this will impact the services you supply to or buy from the EU?

You may not even think it will but are you aware that any services you buy from the EU will be subject to the ‘Reverse Charge’ mechanism? Under this mechanism, even though your supplier may not have charged you VAT you may still have to declare Output VAT on the invoice at the UK VAT rate in box 1 and then reclaim it as input VAT in box 4.

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Summer Economic Update - a couple of key points

Summer Economic Update - a couple of key points

Another raft of incentives and give-aways to support the economy at a critical juncture as we emerge from lock-down and anticipate the ending of the job retention scheme.

Measures include - Job retention bonus, VAT reduction for hospitality, stamp duty holiday and support for young people to find work. I will focus on just two of these.

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5 tips for leading your company out of a crisis

5 tips for leading your company out of a crisis

This is an article recently prepared by our partners at Xeinadin Group

Getting out of a crisis is difficult and requires extraordinary measures and great efforts from a company and its people. Since we’re here to help, we’ve listed 5 tips for leading your company out of a crisis or turnaround situation. Read on and make smart use of these tips.

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Cocooning a business

Cocooning a business

This is an article recently prepared by our partners at Xeinadin Group

The purpose of this guidance is to give an overview of what, why and how a business might be cocooned (or mothballed) in response to the change in trading environment arising from Covid-19.

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Government support for business - a developing situation

Government support for business

Normally I would be writing and commenting about last week's budget, but that has been superseded by the extraordinary events of the last few days.

The advice to the population not to go out to pubs, restaurants, theatres etc is not only going to have a short-term catastrophic effect on those industries, but the shock-waves will undoubtedly spread to many other parts of the economy. People running businesses are understandably worried about what this might mean for them, and whether they will survive.

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Keeping The Entrepreneurial Spirit Alive

Keeping The Entrepreneurial Spirit Alive

Summer is in full swing. The sun’s shining and as most people look forward to their holidays (or you may have had yours already?) it gives us all a time to reflect on our businesses and the progress we’re making!

As you know, we work with dozens of business owners. Many of them are what I would call ‘Entrepreneurs’ (with a capital ‘E’). Some are ‘Serial’ entrepreneurs, but they all have one thing in common—they are building something. Hopefully, something special. Something that defines their knowledge, expertise, hard work (blood, sweat and tears!) and commitment.

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New IR35 Rules for Contractors from April 2020

New IR35 Rules for Contractors from April 2020

Are you a contractor or do you engage contractors in your business? If ‘yes’ then this could apply to you.

As you are aware, currently contractors pay their own income tax and NICs, outside of the PAYE system, unless they operate through their own personal service company and their contracts fall within the IR35 legislation. The onus being on the contractor to determine whether the IR35 rules apply and pay any tax and NIC accordingly.

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