The growth and development of your business
Sole Trader & Company Director Tax Deadline Guides 2022/23
Today marks the start of a new tax year and we're pleased to provide two new guides to help you stay on top of your tax affairs throughout the year: Sole Trader Tax Deadline Guide 2022/23 Company Director Tax Deadline Guide 2022/23 Keep a copy to hand as a useful...
Spring Budget 2022 – A Summary for Business Owners
In Rishi Sunak's fourth Budget delivered today, the Chancellor reported forecasted economic growth of 3.8% in 2022, lower than previously predicted, with inflation likely to reach 7.4% later this year. Inflation is forecast to come back under control and economic...
One Month to Go – Making Tax Digital for VAT Business Becomes Mandatory on 1st April
Tomorrow marks one month before the next significant stage in the 'Making Tax Digital' (MTD) initiative comes into force. MTD is a Government initiative, designed to make tax projection and payment more straightforward and efficient for UK taxpayers. It focuses on the...
Update to Statutory Sick Pay Rebate Scheme
The Government has announced dates for final claims for the Statutory Sick Pay Rebate Scheme. The Statutory Sick Pay Rebate Scheme will close on 17 March 2022. You have until 24 March 2022 to submit any new claims for absence periods up to 17 March 2022, or to amend...
Government Help to Grow: Digital Scheme
Yesterday (Thursday 20th January), the Government launched their Help to Grow: Digital scheme. This scheme is designed to support small and medium sized companies find and adopt digital technologies, so they can grow their businesses. Under the scheme, eligible...
4 Essential Numbers You Won’t Find in Your Annual Accounts
The annual accounts you produce don't give you all the numbers you need to run your business. You need numbers that tell you how you’re doing and help you navigate your journey as a business owner. Here are 4 essential numbers you won't find in your accounts: Your...
New Government Support for Businesses
On 21 December, the Government announced £1billion in support for businesses most affected by the Omicron variant of Coronavirus. The announcement outlined that: • Businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up...
Your 5-minute Business Boost – Protect the Health of Your Business in 2022
Measure what matters to your customers and you avoid problems that lead to losses in your business. Here are 5 essential questions for you to answer and protect the health of your business in 2022. 1. What do our ideal customers care about? Be clear on your...
How to convert more new business in 2022
Our Sales Coach Simon Tucker shares his top tip to stop leaving new business on the table in this 60-second video. Reviewing your sales performance is step eight on our Post-Lockdown Business Action Plan Tool. To make use of the guides and insights to complete steps...
An Update on Government Business Support Schemes
Following the closure of the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme (SEISS), here is a summary of the Government support schemes currently available/coming soon. Business Recovery Loan Scheme Currently, businesses of all...
Your 5-minute Business Boost
[5 min] It's easy for business owners to be distracted from their role as leader of the business. Here are 6 ways to free-up more time to work ON your business in 2022. Use software to collect customer payments Reduce the time you spend sending out invoices and...
4 Steps to Enhance Your Customer Experience
Fear your business may not be living up to your marketing promises? Worried a competitor can serve your customers better? We've created a 4-step guide to help you assess and improve your customer experience. Use it to strengthen your business and outshine your...
Autumn Budget 2021 – A Summary for Business Owners
Rishi Sunak announced his third Budget yesterday, following two that were dominated by short term pandemic-related support measures. The Chancellor presented this Budget as a foundation for the stronger economy of the future. While he acknowledged challenging months...
New reduced VAT rate for hospitality businesses
The Government cut the rate of VAT for certain supplies relating to the hospitality industry to a temporary 5% rate in July 2020, to assist those businesses severely affected during lockdown. This reduced rate was extended until 30 September 2021 in this year's...
How to focus on the work that will strengthen your business
You know there are tasks and projects to complete which will improve your business and keep it strong post-lockdown. The struggle is finding the time and space to step away from your day-to-day work and pursue them. Working on these projects with your team generates...
Preparing for the end of the Coronavirus Job Retention Scheme (CJRS)
The Coronavirus Job Retention Scheme (CJRS), which has seen the Government provide grants covering a proportion of the wages of UK employees since March 2020, comes to an end on 30th September 2021. This month is the last month you can claim under the scheme. The...
Your Guide to Systemising Your Business
Part four of our post-lockdown business action planning tool is to systemise your business to make it more efficient and more profitable. Business systemisation also brings a host of personal benefits for you. If you have been frustrated by the amount of time your...
Your Guide to Business Entertainment & Employee Subsistence Tax Relief
Use business funds to entertain and motivate your team and customers? Get confused about what qualifies for tax-deductible business entertainment? You are not alone. We are often asked about this so we have compiled an up-to-date guide to enable you to gain a clearer...
Your Guide to Managing Business Cashflow as we come out of Lockdown
Step 2 in our Business Action Plan Tool is to actively manage your business cashflow as we come out of lockdown. This guide shares a step-by-step process to help you do this.
3 Steps to Business Cost Efficiency
Part one of our post-pandemic business action planning tool is to review your business costs to stop unnecessary cash leaking out of your business. Amidst all the disruption of lockdown, the costs your business incurs may well have changed, so it’s time to review what...
Unpacking the new Capital Allowance Super-Deduction & Special Rate Allowance
The March 2021 Budget included two new tax reliefs in the shape of a 'super-deduction' to be given as a capital allowance for purchases of new equipment and the Special Rate (SR) Allowance. Promoted by the Chancellor to encourage businesses to purchase new equipment...
Government support updates for the new tax year
Below you'll find updates on key changes to Government business support and rates for the new tax year. Replacement Government Recovery Loan Scheme (RLS) launched Applications for Coronavirus Bounce Back Loans and Business Interruption Loans closed at the end of...
6 tips for a successful return to the workplace for your team
As the Clear Vision team looks forward to coming together again in the office after Easter, it feels both a relief and slightly surreal after so long working remotely from each other. Whether like me you will be welcoming your whole team back to the workplace...
New options for the payment of deferred VAT
With VAT deferral coming to an end, HMRC have finally released information on bringing this VAT up to date. There are three options, you can choose to either: Pay the deferred VAT in full before 31 March 2021. Join the new VAT deferral payment scheme which is an...
Spring Budget 2021 – Your Summary
Rishi Sunak hailed the ‘swifter and more sustained’ UK economic recovery which is taking place in the UK following the effects of the Coronavirus pandemic during his Budget speech yesterday. He revealed that the UK economy shrank by 10% in 2020 but is expected...
Your Business Action Plan
Matthew Rogers shares a new Wellbeing Wednesday blog for business owners. As we approach the end of the pandemic and continue to immerse ourselves in working to ensure our businesses recover from its effects, allow me to ask: how are you? The effects of the pandemic...
New ‘Pay Less Tax’ Winter Edition – your latest tax news and insights
A new edition of our 'Pay Less Tax' newsletter has just been published. It includes a useful round-up on Making Tax Digital and also potential Brexit-related tax issues. Take a look.
8 Tips to Help Your Team Stay Well as They Work From Home
As a Life Coach and Owner of Red Balloon Life Coaching, Laura Wetherill has trained in psychology, NLP, counselling, stress management and autism awareness. She is also a Member of the Association for Coaching. Here she shares 8 valuable tips for you to pass on to...
Time to Pay Tax Arrangements
HM Revenue and Customs (HMRC) are being very amenable to individuals who wish to set up an arrangement to pay their tax payments in instalments during the current pandemic. HMRC have advised that they are allowing individuals two months from 31 January 2021 to set up...
9 Steps to Drive the Financial Performance of Your Business in 2021
A multitude of business owners will face cashflow challenges as they seek to rebuild their business income in 2021. If you are amongst them, keeping your business efficient and effective will be key to dealing with this extra financial pressure. Here we share 9 steps...
Lockdown 3 support from Clear Vision
Lockdown 3 has now been implemented for England and much of the UK. The Clear Vision team remains on hand to support our clients, whether it be to discuss financial strategies for your business, help you secure funding or simply to discuss how you are feeling and...
6 things you can do today to get ahead for 2021
We asked our Client Managers for one thing they would recommend that business owners do to get ahead for 2021. We asked them to propose one explicit, valuable action you can take to help you get ahead for 2021, personally or professionally. We even let Matt have a go!...
Updates to Government Business Support Announced
The employee furlough scheme has been extended until the end of April 2021, with the Government continuing to contribute 80% towards employee wages, Chancellor Rishi Sunak confirmed yesterday. The Government will also extend current...
VAT Changes from 1 January 2021
If your business is VAT registered, catch up with the changes to the VAT regime that take effect from 1 January 2021: NOTE: Reverse Charge accounting for VAT is not an EU specific rule – It is how you must account for VAT on services that you buy from businesses who...
HMRC now checking “Eat Out” payments
We understand that HMRC are writing to some businesses that claimed under the "Eat Out to Help Out" scheme in August to check their claims are correct. The scheme allowed businesses to discount their customers' bills by up to 50% per diner, subject to a £10 per head...
Full details of third SEISS grant announced
The Government has now provided full details of the third Self-Employed Income Support Scheme (SEISS) grant. The grant is payable for the three-month period beginning on 1 November 2020. It is equal to 80% of average trading profits, capped at £7,500. Claims can be...
HMRC launches new VAT deferral scheme
HMRC is giving businesses that deferred VAT payments due between 20 March and 30 June 2020 more time to pay. Previously, payment was due in full by 31 March 2021. Under its new scheme, HMRC is enabling businesses to settle what is owed by 31 March 2022. HMRC will...
Updates to Research and Development (R&D) tax relief scheme for 2021
The following changes to the R&D SME tax relief are set to come into effect for accounting periods beginning on, or after, 1 April 2021: A cap on the amount of the payable R&D tax credit will be introduced A company making a small claim for payable...
Annual Investment Allowance extended to £1million for another year
Due to the economic downturn caused by the pandemic, the Government has announced that it is to extend the temporary tax break for businesses investing in equipment. The Annual Investment Allowance (AIA) limit, which was due to revert to £200,000 with effect from 1...
Pass Less Tax Special Edition – your latest tax news and insights
A new edition of our 'Pay Less Tax' newsletter has just been published. It includes a useful round-up on the state of play with Government support for businesses at this time, as well as a review of Brexit. Take a look.
Update on Government Support Initiatives
Extension of Furlough Job Retention Scheme (JRS) to 31 March 2021 Following the announcement of a £150bn injection of crisis support funding and interest rates to remain at 0.1% by the Bank of England yesterday, the Chancellor has extended the Furlough Job Retention...
Furlough Job Retention Scheme (JRS) extended during new month of restrictions
You will have heard Boris Johnson mention 'furlough' when he spoke on Saturday night. Some guidance on the extension was issued straight away. However, that guidance is far from complete, and many questions need answering before we can advise with any level of...
Further Expansion of the Job Support Scheme (JSS)
The Government has announced a further expansion of the JSS, to increase the reach of its winter support schemes to ensure livelihoods and jobs across the UK continue to be protected in the difficult months to come. Under this latest expansion, employers will be...
“Why do I bother?”
In low moments, as we deal with the current struggles, obstacles and challenges of being in business, it can be easy to think "why do I bother?" This is typically an off-the-cuff remark we make when we feel particularly under pressure, of course, but is actually one I...
Self-assessment taxpayers given longer to pay
Self-assessment taxpayers have been given even longer to pay all the taxes due by 31 January 2021 made up of: 2019/2020 Second payment on account due 31 July 2020 2019/2020 Balancing payment 2019/2020 Capital Gains tax 2020/2021 First payment on account If your total...
Expansion to Job Support Scheme (JSS)
The Government has announced an expansion of the JSS, to provide temporary support to businesses whose premises have been legally required to close as a direct result of coronavirus restrictions. Under this expansion, affected businesses will receive grants towards...
Summary of the Government’s Winter Economy Plan
The Chancellor Rishi Sunak has presented his 'Winter Economy Plan' today, outlining how the Government will support jobs and the economy over the coming months. We welcome the additional measures set out to support businesses at this time. Here is a summary of the key...
Could Your Business Benefit from a Research & Development Tax Credit?
Research and development (R&D) tax credits are a valuable Government tax relief that rewards UK companies for investing in innovation. Many businesses aren't aware that they are eligible for R&D tax credits. Could this include yours? Most people imagine...
CJRS – October Update
A reminder that the amount the Government will pay of a furloughed employee's wages is set to go down in October under the ongoing Coronavirus Job Retention Scheme (CJRS). From 1st October 2020, employers will be required to fund 20% of furloughed employees’ usual...
New Local Lockdown Grant to Support Businesses Forced to Close
The Government has announced that new grants worth up to £1,500 will be available every three weeks to businesses required to close due to local lockdowns or targeted restrictions. Affected businesses in England will be able to claim up to £1,500 per property every...