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Deliver business advice

Have you established yourself as a trusted business adviser to your clients? These handy resources will help you advise them effectively.

This page covers ways of raising finance whatever the size of the business you are advising, growth strategies and support for our BAS firms.

In this section

Access to finance

Funding Trends SMEs Mid-2021

The UK enters the second half of 2021 with more SMEs managing more debt than ever before due to the impact of the pandemic. Following on from the GOVT backed CBILS and BBL schemes, we are witnessing a situation where the RLS (Recovery Loan Scheme) has not yet fully established itself in the marketplace.

Benefits

Modern business needs smarter law

Whether an accountancy practitioner starting out or a growing firm, LawBite wants to help you flourish with a great offer available to ICAEW members: get LawBite's Access plan (usually £29 / month) free for 12 months.

Brexit

UK transition

Answer a few questions, over at gov.uk, to get a personalised list of actions for you, your family, and your business. Then sign up to get email alerts when things change.

Business recovery

Help your clients avoid a COVID 19 cash flow disaster

So your client has deferred their VAT payments until March 2021, their self-assessment payment on account until January 2021, taken out a Bounce Back Loan to tide them over and meanwhile the staff are on furlough until the scheme ends. Are they heading for a cash flow disaster come the end of the year?

Which button to press: liquidation or turnaround?

The overarching goal of every business adviser is to achieve a full recovery for their client’s business and secure for them a sustainable and profitable future. While navigating the tricky precipice that is ongoing solvency, how does the adviser know whether to ‘press the button’ on liquidation or turnaround and what measures can be taken before arriving at the correct decision?

Seven considerations for clients making redundancies

Businesses will no doubt welcome the Chancellor’s recent extension to the furlough scheme and £1000 jobs bonus. However, given that we are looking at difficult economic times for a considerable period to come, many employers will be forced to make staff cutbacks. Here are some of the things clients should consider when thinking about making redundancies.

Disincorporation and downsizing

These are difficult and worrying times, including for business owners. It was reported in the Financial Times last week that an extra 21,000 companies were dissolved in March 2020, compared to March 2019. Sadly, the COVID-19 pandemic will cause the failure of many businesses. Some companies will cease trading, never to recommence. However, other companies will survive, although their owners may be forced to operate on a much smaller scale.

Declaring grants on CT600

A brief summary following the HMRC webinar on how to account for grant monies received via the government coronavirus support schemes on a company corporation tax return CT600, including worked examples and useful links

Repay SEISS when turnover is up?

Increased turnover is a red flag that SEISS grants may need to be repaid, but it isn’t conclusive. A much more granular approach is needed, for example to establish whether a new contract arose providing a late boost to profits unforeseen at the time a claim was made.

Business Growth Fund

The Business Growth Fund was established in 2011 to provide investment for Britain’s growing SMEs.

Growth Business

Practical tips and articles for established businesses undergoing rapid expansion.

IR35

Advise your clients carefully on IR35

Navigating the new off-payroll working regulations that apply to private sector clients from 6 April 2021 can be tricky, especially if the ultimate engager is a medium or large company. Peter Rayney provides us with a definitive guide.

Starting a new business

Choosing the right business structure

When setting up a new business, choosing the most suitable company structure is an important undertaking. Each different format has implications for tax, ownership and responsibility. This brief guide will help you work with your clients to decide which route is best for them.

Apply for a start-up loan for your business

A government funded scheme to provide loans and mentors for entrepreneurs. As well as start-up finance, the scheme offers free support and guidance to help prepare a business plan and up to 12 months of free mentoring for successful applicants.

Tax

Declaring grants on CT600

A brief summary following the HMRC webinar on how to account for grant monies received via the government coronavirus support schemes on a company corporation tax return CT600, including worked examples and useful links

Cryptocurrency and taxation

The increased interest in Cryptocurrency raises many interesting tax issues for professional and amateur investors investing in cryptocurrency and cryptocurrency entrepreneurs creating new crypto businesses. This article outlines the significant tax issues a tax professional may encounter in relation to cryptocurrency.

New VAT penalties from April 2022

All VAT registered businesses will enter a new VAT penalty regime from 1 April 2022, which coincides with the remaining voluntarily registered VAT businesses being mandated into MTD for VAT reporting.

Repay SEISS when turnover is up?

Increased turnover is a red flag that SEISS grants may need to be repaid, but it isn’t conclusive. A much more granular approach is needed, for example to establish whether a new contract arose providing a late boost to profits unforeseen at the time a claim was made.

Employee expenses for hybrid work

The world of work changed during the pandemic as offices closed and employees were required to work at home. Now that many employees are moving onto a hybrid form of working, with part of their working hours in the office and part at home, what does this mean for work-related expenses and benefits?

VAT

New VAT penalties from April 2022

All VAT registered businesses will enter a new VAT penalty regime from 1 April 2022, which coincides with the remaining voluntarily registered VAT businesses being mandated into MTD for VAT reporting.