Small Business News

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Kickstart Scheme opens for employer applications

Kickstart Scheme opens for employer applications

The government’s £2 billion Kickstart scheme has opened for employer applications.  The scheme will offer funding to employers who provide job placements for young people. The Kickstart Scheme aims to create work placements for young people who are at risk of becoming...

Car or Van? Coca-Cola lose in Court of Appeal

Car or Van? Coca-Cola lose in Court of Appeal

Car or Van? Coca-Cola lose in Court of Appeal The Court of Appeal has ruled that the Vauxhall Vivaro and VW Transporter vehicles used by Coca-Cola employees were not “goods vehicles” and should be taxed as cars for benefit in kind purposes.  The case has wide...

What are Growth Shares?

What are Growth Shares?

Growth Shares Growth shares entitle key employees to share in the future growth of the company.  They are commonly used to reward or incentivise employees but can also be useful for effective inheritance and succession planning.   What are growth shares? Growth shares...

How has COVID-19 affected the haulage industry?

How has COVID-19 affected the haulage industry?

How has COVID-19 affected the haulage industry? In this article, we will be covering how COVID-19 has affected the haulage industry. The data we will be using in this article is from a series of surveys undertook by the Road Haulage Association (RHA) in April 2020. In...

Basic Cash Flow Management Tips

Basic Cash Flow Management Tips

Basic Cash Flow Management Tips    This article serves as an introduction to the fundamentals of cash flow management. If you need help with anything concerning cash flow or anything else, then please do get in touch.   What is cash flow?   Cash flow is typically...

All non-essential shops expected to reopen from 15 June

All non-essential shops expected to reopen from 15 June

All non-essential shops expected to reopen from 15 June The Prime Minister, Boris Johnson has announced that all non-essential retailers in England will be able to reopen from 15 June but added the caveat that this is “contingent on progress in the fight against...

Coronavirus Statutory Sick Pay Rebate Scheme

Coronavirus Statutory Sick Pay Rebate Scheme

Coronavirus Statutory Sick Pay Rebate Scheme If you are an employer, you may be entitled to use the Coronavirus Statutory Sick Pay Rebate Scheme. The government is set to launch this online scheme on 26 May 2020. This scheme is aimed at small and medium-sized...

The Local Discretionary Grants Fund

The Local Discretionary Grants Fund

The Local Discretionary Grants Fund The Department for Business, Energy & Industrial Strategy has set up a discretionary fund to accommodate small businesses outside the requirements for the business grant funds scheme.   Who is this scheme aimed for? This...

Self-Employment Income Support Scheme Applications are open

Self-Employment Income Support Scheme Applications are open

Who can Claim? If you are a member of a partnership or self-employed and: you traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year. you traded in the tax year 2019 to 2020. you intend to continue to...

Rishi Sunak Announces Bounce Back Loan Scheme

Rishi Sunak Announces Bounce Back Loan Scheme

Chancellor Rishi Sunak has announced that small businesses will be able to access loans of up to £50,000 through the Bounce Back Loan Scheme which will be 100% government-backed. This announcement comes after many small businesses said they were either being rejected...

Large number of SMEs decide to furlough staff

Large number of SMEs decide to furlough staff

Latest Statistics show that over 70% of SMEs have furloughed staff The Chamber of Commerce has announced that over 70% of small and medium-sized businesses have furloughed at least some of their staff. These businesses are currently awaiting government funding from...

The Government has announced a scheme worth £1.25bn to help start-ups

The Government has announced a scheme worth £1.25bn to help start-ups

Government announce scheme worth £1.25bn to help start-ups This new scheme is for start-up businesses that do not qualify for any of the other COVID-19 business support schemes. Chancellor Rishi Sunak said this would help start-ups through this difficult period plus...

Coronavirus Job Retention Scheme Update

Coronavirus Job Retention Scheme Update

How to apply for a furlough grant The application webpage for the government job retention scheme is expected to go live on 20 April with grants being subsequently paid from 30 April. Authorised agents who act for PAYE purposes should be able to make claims on behalf...

Tough times ahead for UK economy says Chancellor

Tough times ahead for UK economy says Chancellor

Tough times ahead for UK Economy The Office for Budget Responsibility (OBR) have said that the economy could decrease by as much as 35% by June. It is important to say that this is only one possible scenario. The figures from the OBR show the scale of the impact that...

New guidance on the Statutory Sick Pay Rebate Scheme

New guidance on the Statutory Sick Pay Rebate Scheme

New guidance on the Statutory Sick Pay Rebate Scheme   The Chancellor announced a new coronavirus Statutory Sick Pay Rebate Scheme in the Budget 2020.  HMRC have now published new online guidance about it which includes information about who can use the scheme...

Updates – Coronavirus Business Interruption Loan Scheme

Updates – Coronavirus Business Interruption Loan Scheme

Changes to current Coronavirus Business Interruption Loan Scheme (“CBILS”) There have been many reports of businesses having issues in accessing much-needed funding through the CBILS facility. Issues have included demands from lenders for Personal Guarantees and being...

COVID-19 Government Funding Update

COVID-19 Government Funding Update

COVID-19 Government Funding Update Please note that current guidance is changing all the time but the following is an up to date summary as at 23 March 2020 of current schemes in place to assist with business interruption resulting from the Coronavirus outbreak....

Hawsons are here to help COVID-19

Hawsons are here to help COVID-19

During this difficult time Hawsons are here to help and support their clients as best they can The Government has announced new measures to help businesses through this difficult time. The first being the tax helpline to support businesses affected by coronavirus. If...

Bank of England Update for Businesses and Households

Bank of England Update for Businesses and Households

Bank of England Update for Businesses and Households During this difficult time for businesses and households, the Bank of England has put together a list of sites where you can find the latest updates from the Government. The following has been circulated by the bank...

Hawsons makes history after 165 years in business

Hawsons Chartered Accountants is 165 years old Hawsons Chartered Accountants was founded in the city of Sheffield in 1854 – more than 25 years before the creation of the Institute of Chartered Accountants in England and Wales – by Alfred Allott and John Hewett....

The Election Result: What are the tax implications?

The Election Result: What are the tax implications?

Tax implications of the Election Result The general election has ended and the Conservatives have secured a large majority winning 365 seats. What does this mean for tax?  How will the election result affect you or your business? Tax expert Craig Walker provides a...

PM pledges increase in support for Research & Development

PM pledges increase in support for Research & Development

PM pledges increase in support for Research & Development Boris Johnson has told the CBI Conference that he will increase the amount of annual Research and Development (R&D) tax relief. He told business leaders “In order to help businesses innovate, this...

Christmas Markets face extra challenges due to Brexit costs

Christmas Markets face extra challenges due to Brexit costs

Christmas Markets face extra challenges due to Brexit costs City centres will soon be transformed with the arrival of Christmas markets. However, the unpredictability surrounding Brexit means these festive features have faced extra challenges this year. The organisers...

No deal Brexit will hit Small Businesses and Amazon Retailers

No deal Brexit will hit Small Businesses and Amazon Retailers

No deal Brexit will hit Small Businesses and Amazon Retailers In the event of a no deal Brexit small and medium sized firms (SME) and Amazon retailers will be especially vulnerable. CBI (Confederation of British Industry) say 40% of SMEs that trade internationally do...

New measures to ensure small businesses get paid on time

New measures to ensure small businesses get paid on time

The government has announced a package of measures to ensure small businesses get paid on time. Under the proposals large businesses could be fined for failing to pay smaller suppliers on time as part of a robust package of measures. The measures include: proposed new...

Tax Rates 2019/2020

Tax Rates 2019/2020

Tax Rates 2019/20 We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax...

Two thirds of SME’s predict growth over the next three months

Two thirds of SME’s predict growth over the next three months

Hitachi Capital has revealed that two thirds (67%) of small and medium-sized enterprises (SMEs) are working on their growth plans in the next three months, compared with 61% this time last year. For these small businesses that are predicting significant growth, it is...