UK Government pledges £1.25 billion support package to help fast-growing firms
Estimated reading time 4:00 minutes UK businesses driving innovation will receive support through the coronavirus outbreak with a £1.25 billion support package. The much-anticipated shot-in-the-arm for entrepreneurial businesses includes a £500 million fund for high-growth firms and £750 millions of grants and loans for research and development focused activities. In this blog, we reveal what this intervention involves, why the Government has launched the initiative and how businesses can receive … Continue reading
CBILS: UK Government-backed initiative to support SMEs during the pandemic
Estimated reading time 5:00 minutes Small and medium-sized businesses now have access to financial support through the Coronavirus Business Interruption Loan Scheme (CBILS). Launched on 23 March 2020, and expanded on 2 April 2020, the scheme enables businesses to address cash flow issues caused by COVID-19. The initiative is a central component in a broader package of government support for UK businesses and employees. Introduced on 23 March 2020, and … Continue reading
Sunak splashes the cash, but slashes Entrepreneurs’ Relief in Budget 2020
Estimated Reading Time 6:00 minutes Chancellor Rishi Sunak unveiled the Government’s first Budget on Wednesday (11 March) in the House of Commons. Among the expansionary fiscal plans, the chancellor allocated billions to combat the economic disruption caused by COVID-19 with investments in public services, promised significant investments in infrastructure and made headline-grabbing R&D and business rates relief commitments. However, whilst we welcome the measures to protect the economy in the … Continue reading
How an interim finance director can help recruit a permanent finance director
Estimated reading time: 6:00 minutes Hiring a finance director is a significant investment for a business, and the often-exhausting process usually comes at the most inopportune moment. Our advice is to appoint an interim finance director to support the business through the transition and enable the CEO to focus on making the correct long-term appointment. In our latest blog, we introduce the role the interim finance director can play in … Continue reading
Overdue Accounts? Struggling to get your statutory accounts filed on time?
Estimated reading time: 4.5 minutes Overdue accounts can be symptomatic of systemic issues within an entrepreneurial business. Many entrepreneurs do not have access to an experienced finance team and sometimes struggle to file statutory accounts at Companies House and tax returns at HMRC. How do early-stage and growing companies access help to avoid the potentially serious consequences of late filing? Overdue accounts can be the Achilles heel for early-stage and … Continue reading
Entrepreneurs’ Relief is vital for a successful entrepreneurial economy
Estimated Reading Time: 4:00 minutes Since the introduction of Entrepreneurs’ Relief in 2008 and its subsequent expansion after 2010, many entrepreneurs have benefitted from the tax break and created new businesses and reinvested profits from previous enterprises as a result of the scheme. Further developments over the weekend indicate Entrepreneurs’ Relief will be modified or scrapped entirely in Chancellor of the Exchequer Rishi Sunak’s first Budget next week. We … Continue reading
How technology is reshaping the future of the finance department
Estimated reading time: 4:00 minutes Technology is transforming the way finance departments in small and medium-sized businesses (SMEs) operate. Cloud computing, big data and automation are revolutionising this core department, irrevocably augmenting how finance professionals are now analysing every aspect of business performance. As efforts to embrace and integrate the latest trends gather pace, we explore how technological progress is reshaping the future of the department. Before the convergence of … Continue reading
Start-up FD; who are they and how are they different?
There is no getting away from it; a full-time finance director is a prohibitively expensive resource for most early-stage technology businesses. So frequently in the early days, the Founder handles the strategic financial challenges, and a financial controller or finance manager (or indeed office manager) keeps Companies House and HMRC happy as well as getting the invoices issued and the bills paid. Nevertheless, the business will eventually outgrow these accounting … Continue reading
Outsourced Accounting and AccountingTech, what’s the difference?
The world of outsourced accounting is changing rapidly As providers of outsourced accounting to growing technology companies, we are seeing an increase in the number of exciting and innovative AccountingTech startups seeking our services to help them to scale. This sector includes online book-keeping, expense management, planning and tax software solutions. With the investment community readily investing in UK AccountTech companies (like the ones below), the disruption of the traditional … Continue reading
Making Tax Digital deadline; are you ready?
Making Tax Digital (MTD) is a huge change in the way businesses (and individuals) report tax and is still a source of concern for many businesses. MTD is a government initiative aimed at simplifying the way businesses report their income, expenditure and taxes; making it easier for businesses to get their tax right and keep on top of their affairs. After April 2019 you’ll no longer be able to submit … Continue reading