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Probate Administration

Passing on a legacy

When someone dies in the UK, their executors, family or personal representatives must apply to the Probate Registry for a Grant of Probate. This gives them the authority to deal with all the deceased’s assets, accounts and liabilities, whether they left a will or not. We can help make the entire probate process as stress-free and straightforward as possible. 

If you are handling an uncomplicated estate, with a will in place, then you could administer it yourself. A simple Grant of Probate might be all you need, which we can help you obtain. If the estate is more complicated, with multiple assets and beneficiaries, then you will probably need more help with all the valuations, bank accounts, letters, applications, transfers, certificates and various taxes. You’ll find our fees are usually more reasonable than those charged by solicitors or banks. And we’ll make sure your loved one’s estate is transferred fairly.

Relax with our straightforward process

Clarifying your circumstances and identifying exactly what you need:

  • Collecting all relevant information and documents to leave no room for error
  • Handling all paperwork, making legalities simple and easy to understand
  • Giving you a complete service that administers the entire estate correctly

Do you have your will in place?

Applying for probate and organising your assets will be far more difficult for your beneficiaries if you have not made a will. It could be that much more of your estate will go to the government. We can help you obtain a professional, legally-compliant will that reflects your personal circumstances. Get in touch to take the first step.

Business Insurance

We have partnered with well-known insurance provider Hiscox to offer you a great deal on your business insurance.

Become a SenigUK Consultancy client, and get a 15% discount on all Hiscox Business Insurance products.

You never know what problem or accident you might face in the course of your work that could leave you in serious financial trouble, facing legal proceedings or life-changing consequences.

Hiscox have a wide range of policies to cover every eventuality you may face as a sole trader, contractor, limited company or partnership, across a multitude of industries. As well as covering all your accountancy needs at SenigUK, we’ve now made it easier for you to get the right kind of insurance cover, at the right price.

Why choose Hiscox?

  • 20 years’ experience insuring independent contractors and SMEs
  • Tailored policies to cover your specific needs, be they: professional indemnity, public liability, personal accident, data theft, office damage or liability, or cyber attack.
  • Prices from as low as £25 per month (plus insurance premium tax)*
  • You are free to change your policy at any time without admin fees

Call Hiscox on 0800 781 3056 to get a quote or visit [insert link] to find out more about Hiscox Business Insurance.

Warning: The following text is from another website, Hiscox should supply similar text to add here instead. (*Based on £1 million professional indemnity and £1 million public liability cover for typical management consultant and IT contractor clients with up to £100,000 turnover, working in the EU, with no adverse risk features.)

Terms and conditions apply; visit [same link as before] for full terms and conditions. SenigUK Consulting Limited is an Introducer Appointed Representative of Hiscox Underwriting Ltd, which is authorised and regulated by the Financial Conduct Authority. For UK businesses only.

Mini Summer Budget 2020

Yesterday’s budget by the Chancellor of the Exchequer outlined plans to support, protect and create jobs. The government plans to do this by focusing on assisting workers to find work and gain experience, raising demand in the hospitality sectors and increasing infrastructural development to create more jobs. We have put together a summary of the key points raised yesterday and how it will affect you and your businesses. They have been categorised into retaining jobs, protecting jobs and creating jobs.

 

  1. CREATING JOBS

Stamp Duty Land Tax (SDLT) cut

The government will increase the Nil Rate Band of Residential SDLT temporarily to £500,000 from £125,000; this will take effect from 8 July 2020 until 31 March 2021. This hopes to reduce the tax due on everyone who would have been subject to SDLT on the purchase of property.

This is great news for Buy to let investors because they will also benefit from the SDLT holiday for any purchase less than £500,000. Investor will still be subject to an additional 3% surcharge, see link for SDLT calculator below.

Green Homes Grant

The government will introduce a Green Homes Grant worth £2 billion will provide a minimum of £2 for every £1 homeowners and landlords spend on making their homes more energy efficient capped at £5000 per household. Households on the lowest incomes will be fully funded on energy efficiency measures capped at £10,000 per household.

 

2.RETAINING JOBS

Job retention bonus

The Coronavirus Job Retention Scheme will continue to run and will slowly come to a halt in October. In order to encourage businesses to bring back previously furloughed employees, the government has implemented a Job Retention Bonus incentivise employers to retain employees. This will be a singular £1000 payment per every furloughed employee on condition that the employee remains employed up until the end of January 2021 and earns a minimum of £520 per month.

Kickstart Scheme

This scheme hopes to create a 6 month work placement scheme for youth aged 16-24 who are at risk of long term employment by introducing a £2 billion fund. This fund will cover the wages of 25 hours a week, the employer NIC contribution and minimum automatic enrolment contribution incurred.

Traineeships for young people

There would also be an additional £111 million to fund the traineeship of 16 – 24 year olds. The government hopes to do this by paying employers who make work experience available, £1000 per trainee.

Apprenticeships

The government plans to pay £2000 to employer per each new apprentice hired under 25 years and £1500 for new apprentices hired over 25 years form 1st August 2020 to 31st January 2021.

 

  1. PROTECTING JOBS

Eat Out to Help Out

This scheme has been introduced to help shield the jobs of workers in the hospitality sector and encourage people to patronise the business. This will be in the form of   50% discount (capped at £10 per head on each meal) at food establishment participating in the scheme. The discount will run from Monday to Wednesday for meals eaten in and the establishments participating in the scheme will receive a full refund for the discount.

VAT cut for food and non- alcoholic drinks

There will be a reduced VAT rate of 5% from 15th July 2020 to 12th January 2021 to assist businesses and jobs in the hospitality sector. This reduced rate would be applicable to food and non-alcoholic drinks from restaurants, pubs cafes and other food establishment.

VAT cut for accommodation and attractions.

There will also be a reduced VAT rate of 5% from 15th July 2020 and 12th January 2021 on the supply of accommodation and attractions in the UK.

 

The government will issue out a third phase of the recovery plan by autumn which will encourage a longer-term recovery. You can access the full document here.

If you need advice regarding the information above, please contact us on 01279 772966 or send us a message at  info@senigukconsulting.co.uk.

 

Covid-19 Bounce Back Loan

The Bounce Back Loan was introduced by the government to help small businesses access financing easily during the Coronavirus. It is a 100% state backed loan where businesses  and  self employed workers can access up to £50,000 loan, and the first 12 months of its receipt, it is interest free and the business owners are not obligated to make repayments.

This scheme is different from the Coronavirus Business Interruption Loan Scheme however you can switch from this loan to the Bounce Back Loan if you the terms are more favourable.

What is it?

The Bounce Back Loan was introduced in May 2020 and allows business and self-employed workers access financing during the Coronavirus.

  1. You can borrow from £2,000 to £50,000 which is capped at 25% of the total turnover
  2. No interest charged and no obligated repayments for the first 12 months.
  3. After the first 12 months, the annual interest rate is fixed at 2.5%

*You may repay the loan early without incurring a penalty charge.

Who is eligible?

The Bounce Back Loan is available for business who:

  1. Are based in the UK
  2. Have been affected negatively by the Coronavirus pandemic
  3. Has been set up and trading prior 1st March 2020
  4. It is not bankrupt or in liquidation as at the time of application
  5. More than 50% of the income is from trading activities.

Please note that you will be unable to apply for the Bounce Back Loan if you are already claiming finance under:

  1. Coronavirus Business Interruption Loan Scheme (CBILS)
  2. COVID-19 Corporate Financing Facility
  3. Coronavirus Large Business Interruption Loan Scheme (CLBIS)

However, if you have already received financing under one of these schemes you can arrange with your lender and have it transferred to the Bounce Back Loan before 4th November 2020.

How can I apply?

Currently there are 11 lenders participating in the scheme. You can search for lenders here and if one lender turns you down, you can use other lenders in the scheme.

 You can apply by checking the lenders website and filling a short application form only declaring your eligibility. The lender will get back to you with their decision on whether they will offer you the loan or another type of financing. You are then responsible for the repayment of the total amount borrowed.

When applying, the lenders will need you to provide:

  1. information about the amount you are borrowing
  2. information about the purpose of the loan (what the loan is for)
  3. information about the period of the repayment of the loan to decide if it is suitable for you.

They will need you to provide supporting documents which  may include:

  1. Management accounts
  2. Historic accounts
  3. Details of assets
  4. Business plan

Please note that if you are approaching an existing lender for a smaller amount, it may be automated and may not require the same number of documents.

 

If you need further advice regarding this, please contact us at info@senigukconsulting.co.uk alternatively you can call us on 01279 772 966

Coronavirus Job Retention Scheme

To help businesses cope with the effects of the coronavirus on businesses, the government introduced the Coronavirus Job Retention Scheme (Furlough). Here, instead of businesses letting go of staff, they are able to claim up to 80% of their employee’s gross salary from HMRC.

The scheme will be closed to new entrants from 30 June 2020 and from then, only employees who have been furloughed for a full three weeks prior to the deadline (30 June) will be eligible for furlough. The deadline however for adding new employees to the scheme is 10 June 2020.The scheme has been updated and employers can bring back previously furloughed employees and be eligible to claim back furlough for hours not worked.

From July, employers will be able to bring back their previously furloughed employees and only be able to claim the Coronavirus Job Retention Scheme grant for the hours not worked.

 

Who is eligible for this scheme?

  1. Current employees

This scheme is only available to employees who have been unable to work because their current businesses have been impacted by coronavirus. This scheme has been deployed by the British government to help businesses retain their staff.

Employees eligible for this scheme are those who were employed on or before 19 March 2020 and were on the payroll and RTI submissions have been made to HMRC in respect of the employee on or before 19 March 2020. However if submissions to HMRC were made after 19 March 2020 the employee would not qualify for this scheme.

2.Redundant employees who are reemployed on or after 28th February 2020

If employees in the business have been made redundant or stopped working for the business on or after 28 February, the employer should be able to re-employ them, get them on the furlough scheme and claim back their wages from the date of furlough even though they have no plans of re-employing them until after 19 March 2020.

This is only applicable to employees who have been on the company payroll as at 28 February 2020 and an RTI submission has been made on behalf that employee on or prior to 28th February 2020.

 

3. Redundant employees  who are  reemployed On or after 19 March 2020

If employees in the business have been made redundant or stopped working for you on or after 19 March 2020, you able to re-employ them, put them on the furlough scheme and claim back their wages from the date of furlough

This is only applicable if the employees were on the business payroll as at on or prior to 19 March 2020 and an RTI submission has been made on behalf of the that employee prior to this date.

 

4.Fixed term contracts employees and ongoing contracts

These contracts can be renewed or extended, and furlough can be claimed if an RTI submission has been made to HMRC on behalf of the client on or prior to 19 March 2020.

 

5. Expired contracts

These employees can be rehired, and furlough can be claimed if their contracts expired:

  1. Prior to or after 28 February 2020 and an RTI submission has been made to HMRC prior to or after 28 February 2020.

Prior to or after 19 March 2020 and an RTI submission has been made to HMRC prior to or after 19 March 2020

 

** Same contracts that started and ended between 28 February and 19 March will not qualify for this scheme and this is applicable not only to fixed term contracts, but to all employees on other contracts.***

The scheme closes on 31 October, 2020. From 01 August, 2020, employer will start to contribute to the scheme, government will not be able to pay full amount.

 

If you require further advice regarding this, please contact us on info@senigukconsulting.co.uk

 

Are you ready for the new VAT Reverse Charge for Construction Industry?

The new domestic reverse charge is being introduced from O1 October 2020. The aim is to prevent VAT fraud in the building and construction industry sectors. The changes will result in business making payment for construction services now responsible for self-accounting for VAT return.

Who will this affect?
The new changes will affect building contractors, all contractors registered for CIS, changes will be introduced to other sector later in the future. The reverse charge will only affect business registered for standard rated VAT in the UK but will not affect construction businesses that are not VAT registered.

Compliance
Business will have to review their contract with their sub-contractors to check if the VAT reverse charge affect the services they offer. The management of the business will have to send mails to their sub-contractor regarding the new changes and sub-contractor will have to get confirmation from their contractor to confirm if reverse chares apply.

What Next?
The way most of the construction business will be accounting for VAT and file return to HMRC will change, you will be needing support and tax advise on how to file VAT to avoid huge penalty from HMRC.

Do you have any concern or you are thinking of outsourcing your VAT services? Please contact us today via the contact page.

IR35 Private Sector Deferment

As you may be aware that the government has now postponed the IR35 to the Private sector until next year in response to COVID-19. Close to the time, we would let you know if there are any further changes. For more information, please click the link below:
https://www.gov.uk/government/news/off-payroll-working-rules-reforms-postponed-until-2021

The Government Support in Response to COVID-19
As we are now receiving question/s from client regarding what they can claim or assistance which may be available based on the Announcement from the government to support UK Businesses and Individual. We would like to point you to the government website with link provided below as the information keep changing whilst government are revising and trying to accommodate and support the needs of individuals and business. All benefits of the grants and applicable grants are provided in the government link below, how to claim, who should claim, and requirements are all included. We would strongly advise to always check the government website for updated information as they are updated regularly.

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

Summary of the Announcement

Only sole traders and partnership will benefit from the scheme, directors of a limited company earning salary and dividend will not benefit from the scheme. However, directors can claim 80 percent of the usual monthly salary earned as a director (i.e. as an employee of the company) of the limited company for period when they have not worked as a furloughed employee to avoid redundancy . For more information as an employee (director) on how to claim the 80% of your salary. Please visit this link: https://www.gov.uk/guidance/check-if-you-could-be-covered-by-the-coronavirus-job-retention-scheme. As the employer of the limited company, to claim the 80% retention fund to pay yourself as the director/ your employee, please visit this link as it explains how to apply and who can apply: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme.

How will government calculate the Self-employed scheme?

The sole trader/Partnership will receive 80 percent of the average net profit on their self-assessment income for the last three 3 years up to £2,500 a month. There is a cap of £50,000 net profit per year, if your net profit is more than £50, 000 per year, you will not qualify for the grant.

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

The scheme will only be covered for 3 months and may be reviewed by the government. HMRC will identify self-employed taxpayers and contact them directly by post on how to apply for the grant. If you have any concerns, or need help and advice , please contact us today via the contact page.

Probate, Inheritance Tax and Residence Nil Rate Band

Before submitting probate application to the probate office, Executor and personal representative of the deceased will have to complete Inheritance Tax return application forms to HMRC. When completing the Inheritance Tax Return application, you can claim relief on Residence Nil Rate Band (RNRB). RNRB was introduced by the Chancellor on 6 April 2017, the relieve can only be claim on Residential building passed to direct descendant for death in the tax year between 2017 to 2021. The good news is unused RNRB can be transferred to surviving spouse like the Nil rate band (NRB)

The threshold is between £125,000 to £175,000 depending on the year of death. Relieve cannot be claimed on Buy to let property. RNRB is also applicable when a person downsizes a home on or after 8 July 2015, you may not be able to claim the RNRB if the deceased is not currently living at the main residence at the time of death. If you have any concerns, or need help and advice, please contact us today via the contact page.

Your IR35 Position

HMRC implemented new rules in April 2017. These changed how contractors were able to offset expenses against earnings to lower their tax exposure. Here, we summarise what this meant for people working in the public or private sector.

IR35 and the Public Sector

The IR35/public sector rules were enacted in the Finance Act 2017, which received Royal Assent on 27 April 2017. They outline how government departments will determine the IR35 position of clients. As we are all aware, the rule affected all contractors working in the public sector. Its application means that all contractors’ earnings would be subject to income tax and national insurance. However, the contractor would not be entitled to other employment benefits (sick pay, employment right, annual leave pay) compared to a regular employee.

Where a contractor is working through an agency, the new rule states the agency must decide if a contractor falls within IR35. Clients or agencies will become liable if they deduct the incorrect amount of tax and national insurance from the contractor’s gross pay. Also, HMRC will charge an additional penalty if the contractor claimed un-allowable expenses. The rules allow contractors to claim only a few work-related expenses. One of these is mileage, which the rules define as being only from a workplace to another temporary place of work, and not mileage between home and work. A contractor can claim other allowable expenses, such as essential work items, accommodation, and work phone calls through a self-assessment tax return. But these expenses must be ‘wholly, exclusively and necessarily’ in the course of your business.

IR35 and the Private Sector

Consultation is currently underway on extending the recent IR35 public sector changes to the private sector. We expect the government to roll this out very soon.

Before the extension of the new rules, contractors currently working in the private sector must be aware of the following points to avoid been caught by IR35:

  • Mutuality of Obligation

    Does the employer continue to have the right to offer work, and is the employee obligated to accept and undertake all work provided? Then a mutuality of obligation exists between the contractor and the clients. Thus, the contract will be caught by IR35.

  • Control

    In an employment relationship, a superior has control over what work the employee does, and where and when they carry out the work. We know this as supervision, direction and control (SDC). If a contractor falls under SDC, then the contractor will be classified as employee, and not self-employed.

  • Substitution

    A true contractor has the right to appoint a substitute if he/she is not available to work. The ability to exercise this right to substitute will classify the contractor as self-employed, not as an employee.

  • The 24 Months Rule

    Has the contractor engaged for work with a client for more than two years? Then the contractor will be classified as an employee, not self-employed. The contractor will not be able to claim tax relief on travel expenses from home to a temporary place of work.

How to save tax on rental income with careful tax planning

Whether letting out one property or a hundred, individuals operating a home rental business have to pay tax on rental income received. This is 20% for basic rate taxpayers, and 40% tax if you fall into the higher rate tax band.

Furthermore, with recent changes to the tax law for landlords, there is a cap on the amount of mortgage interest you can use to offset against the rental income before calculating your tax due. And an extra 3% stamp duty land tax charge on buying a second property. It’s not as easy to save money as it used to be.

If you have money invested in property to let, you can consider two options to save tax:

Option 1 – Form a limited company to buy a property or to transfer an investment property to.

Using this strategy you will be able to earn dividends through the limited company. This will be more tax-efficient compared to traditional rental income profits. Corporation tax is paid at 19% compared to income tax at 20% or 40%. You will also be able to claim all rental expenses as business costs.

There are a few disadvantages to using this strategy:

1. The company cannot claim annual exemption allowance.

2. Getting a mortgage using a limited company is more expensive compared to a personal mortgage.

3. Transferring a property from your personal name into a limited liability company may trigger Capital Gains Tax.

Option 2 – Set up a property management company.

You can set up a management company to operate as a letting agent, with you (the investor) being the director of the company. You can also employ your spouse, if not working, to help you with running the management company and pay them through the company’s payroll system.

The management company will provide all the services the rented property needs: cleaning, advertisement, maintenance, administration of rent collection, etc. So, it can also charge the investor a service charge fee for managing the company on their behalf.

The management company may charge 14% of rental income as a service charge. The investor can claim the fees as expenses, reducing their tax exposure.

Are you ready for making tax digital (MTD)?

MTD is a new government initiative being introduced from 01 April 2019. It is aimed at streamlining the tax returns and taxation process by making all taxpayers’ records digital and online.

HMRC is slowly moving to a system where taxpayers will not be able to file online accounts again. Instead, they will have to use software compatible with HMRC systems to upload their records, which will them be available to HMRC on a real-time basis. Thus, HMRC will calculate users’ tax over shorter time periods with less stress, rather than submitting one time-consuming and complicated return annually.

Who will this affect?

All businesses, including sole traders and limited companies whose turnover exceeds the VAT threshold of £85,000 will have to keep digital records for VAT filing from 01 April 2019. The system will not apply to other taxes until April 2020.

Existing VAT-registered businesses with a turnover of less than £85,000 do not have to comply with the MTD recording system. But businesses that are newly registering for VAT after 01 April 2019 will need extra help with their registration.

When using MTD, the taxpayer will continue to file as usual. But they must enter all the backup information and input VAT data into compatible software before filing the backup report to HMRC.

MTD is not about submitting a tax return. It’s about regularly updating your business’s digital personal account with information HMRC would request during a VAT filing period. Essentially, you are doing your bookkeeping online. Instead of submitting a VAT return, which HMRC may not enquire about, HMRC will use information and figures you supplied to them via third-party software to check your digital accounts.

Compliance

All businesses should ensure they review their systems and discuss with software providers to be prepared ahead of the introduction of the new accounts reporting system.

In particular, businesses above the VAT threshold need to make sure they are ready by the 6th April 2019 deadline. HMRC will impose penalties on those who do not comply. We expect the new system to apply across all businesses by 2020.

What you need to do

You will need to log in to your HMRC digital account. If you don’t already have one, don’t worry – everyone will be allocated an account through the current Government Gateway. You will then need to make sure your accounting software can update this account at least quarterly.

As your accounts consultant, we can give you advice on the software best suited to your situation and how to comply with the new quarterly reporting requirements. For most businesses, it will mean a move away from desktop applications onto Cloud-based accounting software.

You’ll be able to use digital Cloud software to maintain your business records and supply accounts information to HMRC. They will prompt you for summary updates on a quarterly basis. You will need to submit them within a month of quarter end. You should submit your end-of-year activity report within nine months of the end of the accounting year.

What’s next?

We will contact all our clients in 2018 to prepared you for Digital Tax and make sure you are ready in advance of the deadline. If you want to find out more about how this affects your business, feel free to contact us.

Do you have any questions about MTD?

This is an innovative system using new technologies and software that you may not be familiar with. We might also see some teething problems in the early stages of its introduction. If you have any concerns, or need help to get yourself set up for MTD, please contact us today via the contact page.

IHT planning for non UK Residents

If you are a non UK Resident, your family and the beneficiary of your estate will be subject to IHT (Inheritance Tax) on the value of your assets located in the United Kingdom. Did you know that if an asset located in the UK is owned through an overseas close company, values of the UK assets will be exempt from IHT? If you would like to know more, please contact us for more information or a tailored free initial consultation.

VAT temporary reduction broken down

Since the announcement by the Chancellor on 8th July, most businesses in the tourism and hospitality industry will be charging 5% VAT on some or most of their sales. The reduced rate applies to hotel and accommodations, restaurants, pubs, cafes and other business operations like this. Cold take away food however is still subject to 20% VAT or 0% under the current rules, however the reduced rate applies to all hot meals and non- alcoholic drinks eaten in or taken out.

HMRC has temporarily reduced the percentages used in the FRS to match the temporary reduced rates. Pubs have been revised to 1% from 6.5%, hotels and accommodation to 0% from 10.5% and catering services to 4.5% from 12.5%.

In this article, we will consider two business scenarios in order to illustrate the VAT implications of switching between the Flat Rate scheme (FRS) or the Standard Rate Scheme.

Businesses with mainly standard rated sales.

Consider Business A which deals with mainly standard rated supplies, that is, most of their sales is subject to 20% VAT. Let us assume that Business A is a pub and has an annual turnover of £100,000 VAT inclusive and £3000 annual input VAT because the business makes standard rated purchases.

Scenario 1: Leaving the FRS to Standard rate for the period 15 July 2020 to 12 January 2021.

Turnover for the 6 month period: £100,000 x ½ = £50,000. Since it is VAT inclusive, VAT due on sales will be £50,000 x 1/6 = £8,333. However on the standard rate, Business A is eligible to reclaim VAT on purchases made. Therefore, Business A will be eligible to reclaim £3000 x 1/2 = £1500 for the 6 months period.

The total VAT bill due will be £8,333 less £1500 which is £6833.

Scenario 2: Remaining in the FRS

If Business A decides to stay in the FRS, the tax due will be based on the new rate. Therefore, depending on whether it is a pub or a restaurant, the VAT due will be (£50,000 x 1%) = £500 or (£50,000 x 4.5%) = £2250. Here the savings are significant therefore Business A will be better off remaining in the FRS.

Businesses with mainly 5% sales

Business B is a restaurant and has supplies which do not include take away sales or alcoholic drinks, therefore it is eligible for the temporary reduction to 5%. Let us assume that Business B has the same annual turnover (£100,000 VAT inclusive) and annual input VAT (£3,000) as Business A; and like Business A, they operate under the FRS

Scenario 1: Leaving the FRS to Standard rate for the period 15 July 2020 to 12 January 2021.

Just like Business A, the turnover the 6 month period will be £50,000 and the VAT due on the sales will £50,000 x 4.5% = £2250 less the input tax of £1500. The total tax due is £750.

 

Scenario 2.: Remaining in the FRS

If Business B stays in the FRS, his VAT bill for the 6-month period will be £50,000 x 4.5% which is £2,250.

It is important to know that if Business B makes the switch to standard rate, the VAT increases back to 20% in January 2021, the business will be liable to pay extra VAT in the six months to 15 July 2021 until they are able to switch back to the FRS.

With the example above the cost of leaving the scheme will be:

Output VAT £50,000 x 1/6 = £8,333

Input VAT = £1,500

Total VAT under Standard rate = £6,833

VAT under the flat rate £50,000 x 12.5% (depending on the FR percentage of the industry) = £6,250.

This means that the cost of making the temporary switch will be an extra £583 (£6,833 – £6,250) paid for the six months leading up to January 2021. This means that the only savings Business B will make from the switch is £750 – £583 = £167.

Business B will now need to decide whether leaving the scheme temporarily only to join a year later is worth the savings of £167.

It is important to note that the 5% VAT reduction is eligible for food and non-alcoholic drinks sold for consumption in restaurants, pubs, bars and cafes on the premises from 15th July 2020. Restaurants that operate cold take away services will have to account for these sales separately.

It is also important to consider the rules regarding switching a VAT scheme in order to understand the implications fully before making a decision. Some of which include:

  • Notifying HMRC in writing if you decided to leave the scheme and reapplying if you choose to join again after a year or later.
  • Leaving a scheme at any date, you are not restricted to leave at the month end, you can leave at any time in the month.
  • The inability to re-join a scheme until after 12 months when you leave.

That is why the illustration for the restaurant, Business B above had to consider the cost implications of leaving the scheme temporarily for the six month period after January 2021 since they will not be eligible to re-join the FRS until July 2021.

Further guidance on the temporary VAT scheme can be found here. Please contact us at info@senigukconsulting.co.uk or 01279772966 for further advise.

 

 

 

 

Claiming work from home expenses

With the outbreak of coronavirus, many businesses have been advised to work from home if they can. For others, working at home has become a norm due to self-isolation or shielding measures as advised by NHS because they are at severe risk of illness or have an underlying condition. The government has outlined expenses that can be claimed during this period for those who have been relegated to working from home.

Telephone, Broadbands and Laptops

Mobile phones are allowable expenses even though it may be used for private use if it is restricted to one phone per employee.

If the employer pays for the broadband for the employee, it cannot be claimed however if a broadband was installed for the sole purpose of working from home, and it was not available before, the cost can be reimbursed and it is an allowable expense. It is important to note that private use of the broadband must be restricted.

Laptops, office equipment and computers used for the sole purpose of the business are also allowed.

Reimbursement for expenses

If purchases were required by the employee to ensure that they were equipped to work from home, it is not taxable if you reimburse them for the actual cost of the purchase. If the employee was not reimbursed, they can claim tax relief for the purchase on their tax return or P87 only if the purchase was necessary for their work and was made entirely for business use.

It is important to keep accurate records of the purchase to be able to claim the exact amount.

Return of office equipment given by employer or reimbursed by employer

It is important to note that supplying the employee with office equipment to enable them work from home is tax free if the equipment is returned to the employer and if ownership was not transferred to the employee. If there was a transfer of ownership, it raises a taxable employment benefit, and this will be based on the market value of equipment at the time of transfer of ownership.

However if the employer reimburses the employee for the cost of office supplies needed to work from home and there is no agreement to transfer the ownership back to the employer, there will not be a taxable benefit charge on the reimbursement.

 

Electricity, heating and other expenses

Employers can reimburse their employees up to £4 a week (£6 a week for expenses dated after 6 April 2020) for additional household expenses as a result of working from home and this will be non-taxable. It is important to note that the employee must check if they will be reimbursed by their employers and keep diligent records (receipts) to make these claims.

Employer loans

Loans or salaries in advances less than £10,000 to assist employees get by during these times will be considered an employment-related loan. They can be interest free or below the official rate set by HMRC.

Temporary accommodation

If an employer needs self-isolate due to coronavirus and is unable to in their home, the employer can reimburse the cost of the accommodation.

Use of employee’s vehicle for business

Mileage allowance of £0.45 per mile of the first 10,000 miles and £0.25 per mile for the subsequent miles can be paid by the employer, however if mileage allowance is not given, the employee can make a claim through their personal tax account

 

If you need advice regarding the information above, please contact us on 01279 772966 or send us a message at  info@senigukconsulting.co.uk.

Tax Advantages of Electric Vehicles

As the effects of the pandemic are easing in the UK and more people are going back to the office, you may want to consider switching your current car to an Electric Vehicle. Electric vehicles (EVs) and Hybrid vehicles are becoming a much more viable vehicle option as more charging points are installed, and more affordable electric vehicles are appearing on the market.
As well as being considered cleaner and better for the environment, EVs also come with several tax incentives to help individuals and businesses choose electric over petrol or diesel.

Vehicle (Road) Tax

  • If you have a purely electric car, these are exempt from vehicle tax, meaning that it’s free to tax them
  • If you have a hybrid car, these are still liable for vehicle tax which can cost anything from £0 to £135 per year depending on the levels of CO2 emissions produced by the individual vehicle.


Benefit in Kind (BIK)

  • The BIK charges for an electric vehicle are significantly lower than for petrol or diesel vehicles. For the tax year 2021-2022, fully electric cars only have a BIK charge rate of 1% of the list price of the vehicle (however this will increase to 2% for tax years 2022-2023, 2023-24 and 2024-25).


Congestion Charge

  • Electric cars are exempt from congestion charge, which is great for anyone who must regularly travel in and out of cities and clean air zones. The current congestion charge in London is £15 per day per vehicle, so for those who have to regularly travel to London could make a big saving by switching to electric.


Capital Allowances

  • Cars with CO2 emissions of less than 50g/km are also eligible for 100% first year capital allowances. Therefore, this means that with electric cars you can deduct the full cost from your pre-tax profits.


Government Grants
The Office for Zero Emission Vehicles (OZEV) is currently offering four grants to help fund electric cars and EV chargers:


For further advice or guidance on whether getting an Electric Vehicle is right for you or your business, please don’t hesitate to get in touch.

The Winter Economic Plan

On the 24th of September, the UK government outlined a series of tax plans to help sustain the economy during the winter months.

The Jobs Support Scheme

In order to protect the jobs whose demand has been reduced by the coronavirus, the government introduced a new scheme, The Job Support Scheme, which is expected for run for a period of 6 months.

During this period, employees who are working fewer hours will be paid for the hours worked by their employers. The government and employers will contribute to the wages of the workers by paying a third each for the hours not worked.

  • Employees must be working at least 33% of their usual hours
  • It is available for all businesses in the United Kingdom and is not limited to businesses who used the Coronavirus Job Retention Scheme
  • The grant will be based on the employee’s salary and it will be capped at £697.92 per month

The Self Employment Income Support

The government also announced the continued support for the Self Employment Income Support Scheme (SEISS). A taxable grant will be available for those who are eligible for SEISS and are actively trading but have been impacted by the coronavirus negatively.

The initial lump sum will cover three months, November to the end of January 2021 and is 20% of the average monthly profits which is capped at £1,875.

Tax reductions and deferrals

The government also outlined an extension of the temporary 15% VAT reduction for the hospitality and tourism sector until 31 March 2021.

Also the government will allow businesses that deferred their VAT payments in March to June 2020 to pay their VAT in small instalments (equal 11 instalments between 2021 and 2022) as opposed to paying a lump sum in March 2021. These businesses will have to opt into the deferral scheme HMRC will put in place in by early 2021.

Self-assessment tax-payers will also have additional 12 month extension from HMRC. This means that payments deferred from July 2020 and those due in January 2021 do not have to be paid until January 2022.

Flexibility to pay back loans

Bounce Back Loan
The government also announced the introduction of “Pay as You Grow”, a flexible repayment system for businesses that took out the Bounce Back Loan. This will extend the term of the loan from six years to ten thus halving the monthly repayments.

Coronavirus Business Interruption Loan Scheme
Coronavirus Business Interruption Loan lenders will be given the opportunity to extend the length of the loan from six to ten years to help businesses repay the loan. Finally, the government extended the application for the coronavirus loan schemes until the end of November.

Further guidance can be found here; and if you need any assistance please contact us at info@senigukconsulting.co.uk  or call us on 01279 772966 for a free initial consultation.

Making Tax Digital for Income Tax

Making Tax Digital (‘MTD’) for Income Tax Self Assessment

Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023.

What this means is that these taxpayers will have keep digital records of all business income and expenses and submit updates to HMRC through an authorised software every quarter digitally as well as a statement at the end of the financial year. The  updates sent to HMRC are the summaries of the business income and expenses.

How can I prepare for this?

You can start by ensuring that your accounting records are kept in accordance with MTD requirements, so that when this regulation comes into full effect you are ready. You will also need to make sure that you use an HMRC approved accounting software to be able to send HMRC the quarterly updates.

When to follow the rules?

You can opt to sign up now for the current or next accounting period voluntarily, or you choose to follow in the next accounting period that starts on or after April 2023. For more information and advice about this proposal, get in touch with us via email info@senigukconsulting.co.uk or call 01279 772966.

Year End Accounts

Need advice on how to do year-end accounts? It can seem like an intimidating task, but it needn’t be. We can take all your accounting and make your company year-end simple and efficient. Year-end accounts preparation can be daunting. When you have to reconcile all your invoices, bank statements, VAT returns, pension payments, National Insurance payments, and of course your day-to-day accounts, it can turn out to be a task bigger than you or your bookkeeper can manage alone.

We offer end of year accounts services for sole traders, limited companies, charities and partnerships. Whatever kind of business or service you provide, we will get to know you and tailor our response to suit your needs.

Why Choose SenigUK

We use the latest online systems to ensure that your year-end accounts are perfectly in order before filing them with HMRC, the Charity Commission and Companies House.

  • Fast, efficient, comprehensive service
  • Personalised approach to suit your needs

Our expert team will ensure that…

  • Accounts prepared are straightforward and easy to read and understand
  • Your accounts are reviewed properly to avoid any error, penalty or rejection
  • Your financial statements are fully compliant with HMRC rules
  • Accounts prepared by us are compliant with FRS requirements
  • Your accounts are filed using recognised integrated online software

Will, Probate and Estate Administration

We understand the time of bereavement will be a difficult and busy period for you. Get personal, professional support with administering your loved one’s assets and liabilities at this most sensitive of times. When someone dies in the UK, their executors, family or personal representatives must apply to the Probate Registry for a Grant of Probate. This gives them the authority to deal with all the deceased’s assets, accounts and liabilities, whether they left a will or not. We can help make the entire probate process as stress-free and straightforward as possible.

If you are handling an uncomplicated estate, with a will in place, then you could administer it yourself. A simple Grant of Probate might be all you need, which we can help you obtain. If the estate is more complicated, with multiple assets and beneficiaries, then you will probably need more help with all the valuations, bank accounts, letters, applications, transfers, certificates and various taxes. 

You’ll find our fees are usually more reasonable than those charged by solicitors or banks. And we’ll make sure your loved one’s estate is transferred fairly.

Why Choose SenigUK

We have experience and expertise in areas of Tax and Legal Services that can help with the whole process. Allow us to provide a personalised service especially as we understand this is a crucial time for your family.

  • Clarify your circumstances and identify what you need
  • Handle all paperwork, make legalities easy to understand

Do you need advice regarding:

  • Will

    Will is the testator’s legal declaration of how the deceased wish their property to be disposed of after their death and include their wishes as regards to funeral arrangement. If the deceased has not left a valid will, application to obtain a grant of probate will not be straightforward. It could be that much more of your estate will go to the government.

    It is advisable for a family to have a will in place. We can help you obtain a professional, legally-compliant will that reflects your personal circumstances. Get in touch to take the first step.

  • Probate Service

    Our team of experts can help you with:

    • Gathering of information regarding all the deceased’s assets
    • Obtaining probate valuations of all the deceased’s asset
    • Advising on IHT reliefs, exemptions and expenses you can claim
    • Calculating and preparing all necessary IHT account due to HMRC
    • Applying for probate and obtaining the grant as soon as possible
    • Opening executor bank account
    • Drafting a letter that will be sent to all asset holder
    • Settling the debts of the deceased
    • Transferring assets to all beneficiary, Issue R185 and Payment of legacies
  • Estate Administration

    You can relax throughout the process as we:

    • Clarify your circumstances and identifying exactly what you need
    • Collect all relevant information and documents to leave no room for error
    • Handle all paperwork, making legalities simple and easy to understand
    • Give you a complete service that administers the entire estate correctly

VAT Returns

Calculating your VAT returns can become one of the most complicated and time-consuming aspects of running your business’s accounts. With us, it doesn’t have to be. Preparing and submitting your VAT returns can be a confusing and pressured experience, with variances around what you can claim for, what it applies to and what type of business you have. Many people find they have mistakenly overpaid or underpaid, leading to yet more hassle.

We understand the intricacies of the VAT system, how it will relate to your business, and everything that you should be claiming. We can compile your VAT returns from your own records, but the process is much easier if we are also handling your day-to-day bookkeeping. Want to learn more? Find out about our bookkeeping service.

Why Choose SenigUK

Need assistance on working out your VAT returns? We’re ready to help.

  • A wealth of experience in VAT regulations
  • Expertise in compliance and international cross-border transactions

Your friendly adviser can help you with

  • VAT return services: registration, compliance and deregistration
  • Choosing the most suitable VAT scheme for your business
  • VAT planning
  • Online VAT filing to avoid late filing penalties
  • Dealing with HMRC on your behalf
  • Handling VAT investigations, appeals and negotiations
  • VAT on the import and export of goods within and from outside of the EU

Tax Planning

Did you know? Many people pay more tax than they need to. This is where tax planning advice comes in handy. Trying to navigate the many rules, regulations and allowances around tax liability for individuals, married couples and businesses can be confusing. Looking at your tax situation as a whole across your individual interests and your business can allow us to make the most of available allowances and reduce your liabilities.

Individual tax planning can be particularly important when approaching retirement age. We can help you to become more tax-efficient through careful planning and forward thinking, so you only need to pay what is strictly due.

Why Choose SenigUK

More than ensuring you file your taxes correctly and on time, our tax planning specialists will help you pay only what is due by law.

  • Reduce your tax liabilities
  • Make the most of your allowances

Our expert advisers can help you with:

  • Income Tax

    SenigUK offers monthly management accounts – recording business income, expenses, asset acquisitions, asset disposals, payroll, liability, debtors and cash balance – providing you with detailed reports on a monthly basis. Learn More about Income Tax

  • Capital Gains Tax

    Capital gains tax is due when an individual sells assets, most commonly a house or other property. With thorough planning, we can arrange transfers of assets and a reduction of your liability. Learn More about Capital Gains Tax

  • Trusts & Estates

    Setting up a trust for your estate can enable your property and assets to temporarily vest in personal representatives in the event of your death. Special rules apply to the taxation of income and property during this period. Tax planning that works with anti-avoidance regulations can work well for all those benefiting under a trust. Learn More about Trusts & Estates

  • Pensions

    We can advise you on how you can use pension investments to save both income tax and corporation tax. Learn More about Pensions

  • Inheritance Tax

    Any individual resident in the UK will be liable for IHT on any gifts and assets transferred to them after the death of a friend or relative. Our inheritance tax specialists can advise how you can save your beneficiaries as much IHT as possible. Learn More about Inheritance Tax

Tax Investigation

Tax Investigation

Nobody enjoys being the subject of an HMRC tax investigation, and the implications can range from simple inconvenience to huge costs in fees or fines. We can hold your corner and put you in the clear. Aside from being stressful, a tax investigation could cost you a lot of time and money. HMRC does not need to have a reason to open an enquiry into your business. Many companies or individuals can find themselves in the unwelcome position of being the targets of a random investigation.

The primary way to avoid a tax investigation is to work with an accountant on your bookkeeping and tax submissions from the start. We are able to make sure everything you send to HMRC is completely compliant whilst ensuring you only pay the tax you need to.

Why Choose SenigUK

Looking for a reliable HMRC fraud investigation service? Regain your peace of mind by having our experts negotiate for settlements and make appeals on your behalf.

  • Consolidate all your accounts
  • Respond to every line of enquiry

Helping you through an investigation step by step

If, however, you do come under a tax investigation, we are able to consolidate all your accounts and respond to every line of enquiry. An investigation, especially into VAT and Income Tax, can take a lot longer than expected. They sometimes last up to a year, and you may not be able to handle the stress on your own. If it comes to a tribunal, we are able to make appeals on your behalf and negotiate for settlements.

Prevention is always better than cure. Our cutting-edge software is able to reconcile the previous year’s accounts and tax return with your books and accounting. We’ll be able to highlight any likely errors that would be spotted by HMRC. Through our tax investigation services, we will ensure accounts and returns filed to HMRC on your behalf are done properly to avoid any further tax queries and future investigation, so you can regain your peace of mind.

Self Assessment

HMRC self-assessment made easy. Settle and pay your taxes online, well ahead of any deadline. HMRC self-assessment payment is presented as a simple, straightforward online process. But to many individuals and businesses, it’s a time-consuming, drawn-out and often confusing exercise.

We can help you turn around your annual accounts, make sure you are properly registered and then pay self assessment tax online on your behalf using approved integrated software.

Why Choose SenigUK

Have you found self-assessment to be over-complicated and frustrating? We can get your accounts prepared and submitted well ahead of any deadline.

  • Tax returns filed with HMRC on your behalf
  • Prepared using an approved, integrated software

Who needs to submit a self-assessment tax return?

  • Company directors
  • Sole traders
  • Those earning income from dividends
  • People claiming child benefit whose income (or partner’s income) is over £50,000
  • Individuals whose annual income is more than £100,000
  • Those receiving any income from overseas
  • Landlords letting one or more properties
  • Anyone who has sold land or property in the relevant tax year
  • People whose annual income from investments is £10,000 or more

Pensions

It pays to stay on top of pension payments for you and your employees. We are here to help you to work within the regulations to plan for the future and create a contented workplace. Under the Pensions Act 2008, every employer in the United Kingdom must enrol certain sectors of their staff into a pension scheme and make contributions towards it. This is called Automatic Enrolment.

Recent changes in pensions, especially those regarding life allowance, affect both individual tax payers and business owners alike. We will make an assessment of your individual circumstances in order to give you advice that will help you to save as much tax as possible.

Why Choose SenigUK

Wondering how to get your company pension scheme in order?  We will ensure you have:

  • Enrolled all your staff into the pension scheme
  • File all declarations before deadline of Staging Date

Pension Auto-Enrolment

As of April 2017, all members of your staff over 22 years of age and younger than retirement age, earning more than £833 per month (£10,000 per year or £192 per week), must be enrolled into a pension scheme automatically. Exempted from this rule are the directors of limited liability companies.

Failure to enrol all your staff before the due date could result in a fine from The Pensions Regulator, so it’s important to make sure you have everything in place. Members of our expert team can help set up your business with a pension provider, in some cases for a discounted fee.

Payroll

Every business that employs people has to deal with payroll and all the issues around it. It can be a time-consuming task, and needs to be managed efficiently to ensure all your obligations are being met.

The introduction of real-time information to HMRC has proved a daunting prospect for some. We can take the pressure off you and make sure that being fully up-to-date and compliant is a painless experience. With our services, your payroll will be managed smoothly, so everyone is paid on time with a minimum of hassle, and you meet all obligations for PAYE tax and pensions automatic enrolment.

If you are a larger employer, outsourcing your payroll to us is a straightforward solution that will provide a convenient and positive result for you and your employees. For more information about our payroll outsourcing services, contact us today.

Why Choose SenigUK

Are payroll issues taking up too much of your time? Work with one of the best payroll outsourcing companies in Essex.

  • Real-time information integration with HMRC
  • Efficient year-end compliance and filing of returns

The advantages of our payroll services include:

  • Registering your employer PAYE scheme with HMRC accounting service tick
  • Advice on adding employees to your system
  • Ensuring your business meets all HMRC employer obligations
  • Advice on calculating and deducting benefits for the employee
  • Staff payslips issued on a weekly or monthly basis
  • Processing auto-enrolment
  • Real-time information integration with HMRC
  • Efficient year-end compliance and filing of returns ahead of deadlines

Corporation Tax Return

Corporation tax return can be seen as the cost of running a successful business, but it need not be a huge burden. We will make sure you are as tax-efficient as possible. Filing corporation tax returns must be done by every limited company based in the UK, or whose activities are controlled and managed from a UK office. It’s in your interests to ensure your tax situation is in order, as HMRC has strict deadlines for tax returns and imposes interest payments on tax that is paid late.

We can make sure you are officially registered with HMRC and act on your behalf to prepare and submit your accounts. Corporation tax is paid on your company profits, and our experience will enable you to take advantage of the tax reliefs available for your business.

Why Choose SenigUK

Take full control of your corporation tax and take advantage of tax reliefs available for your company.

  • Make the most of tax opportunities specific to your industry
  • Liaise with HMRC regarding your corporation tax

Our corporation tax accountants can help you with:

  • Advice on tax planning from start of the tax year
  • Investment advice on how to reduce your corporate tax bill
  • Preparation of company accounts
  • Preparation of company tax returns and tax computation
  • Making the most of the tax opportunities specific to your industry
  • Liaise with HMRC regarding your corporation tax on your behalf

Company Formation

Forming a new company or changing the way your current business is set up can seem a long and complex task. At SenigUK, company formation is made simple. Setting up a new company can entail many small details that could trip you up or drain your time. Company formation is not just about registering an office address — there are many rules, procedures and laws regarding new companies that you need to adhere to properly.

We understand all the steps you need to take to set up a new company, and can guide you through them. From registering your business, and setting you up for various taxes to filing your first accounts, we’ve got you covered.

Why Choose SenigUK

Need company formation advice? We’ll be with you at every stage to make sure your new business will function and thrive.

  • Advice on company law and the companies act
  • A discounted fee for registering an office address

Our advisors can help you with:

  • Switching your business from a sole trader to a limited company
  • Setting up your limited company within 24 hours
  • Advice on company law and the companies act
  • Arranging share transfers and appointment of directors
  • Setting up your company for PAYE, VAT and corporation tax filing
  • A discounted fee for registering an office address

CIS Tax Return

The Construction Industry Scheme (CIS) applies to all contractors in the construction industry. Are you set up properly? We can make sure your payments are compliant with HMRC. CIS is a set of rules set up by HMRC especially for the construction industry, dealing with payments made by companies to contractors and subcontractors for their work. The scheme covers diverse groups such as builders, gangmasters, foremen, property developers, labour agencies and staff bureaus.

Want to learn more about CIS? We cover many of the issues in our FAQs page. For a full construction industry scheme guide, contact us today.

Why Choose SenigUK

Your CIS tax return doesn’t have to be stressful. We’re here to help you to stay on the right side of HMRC.

  • File CIS returns without any issues
  • Outsource your payroll to us

Our aim is to make your tax payments and accounting efficient

Get clarity on your CIS gross statusent Account

If you are a sole trader or operate a limited liability company and you work in the construction business, you may need to register with HMRC under CIS. Different rules apply to contractors and subcontractors, and each category contains separate sub-divisions relating to self-employed workers, limited companies and LLPs. When you apply, you need to make it clear which category your business falls into. This sounds complex, but we can make it simple for you. We can help you register your limited company or sole trading business, and set up your limited company for PAYE to be able to claim a 20% deduction back from HMRC.

We can also advise you on expenses to claim regarding your CIS tax return to minimise tax exposure whilst avoiding enquiries from HMRC. Applying for gross status for your business can also help you to avoid CIS deductions from your payments, if your business turnover is more than £30,000.

Outsource your payroll to us

If you are a larger construction company and find your office time and resources being drained by filing CIS/VAT tax returns on deductions made on payments to subcontractors, you can outsource your payroll services to us. Your payments will run smoothly, all deductions will be in order and you will be able to concentrate on what you best – running your business.

Capital Gains Tax

Enjoying a windfall from the sale of a house or other property that has gained a lot of value can come with a sting in the tail. Tap our capital gains tax specialist accountant for help. Capital gains tax (CGT) is due when you sell assets and make a profit due to the increase in value. Most commonly this is a second home, but it could be other high-value property, such as antiques or shares.

Fortunately, there are reliefs and allowances for these profits, and much may depend on the rate of tax you pay on your income and what the tax-free income threshold is for that year. Also, remember you do not have to pay CGT on the sale of your main residence or your car.

Business Plans

Developing  comprehensive business plans? From cash flow projection to market analysis, our team of experts has you covered. Making business plans for the next two, five or ten years is an essential part of running an enterprise. This is especially true if you expect to expand, introduce new services, rent new premises and take on staff. It’s vital to gauge your outgoings against your anticipated revenue and address any possible problems before they happen.

Our expert teams have years of experience in providing business plan services, giving you the valuable advice and guidance you need to get your business off to a great start. A thorough business plan will help you secure funding from financial institutions, as well as find focus, identify strengths and pinpoint weaknesses.

Why Choose SenigUK

Whether you are starting a business or expanding your operations, it pays to take a close look at your anticipated cash flow. We can help you prepare for the future.

  • Help to secure sources of funding
  • Analyse your competition, promotion and advertising

Our expert team can work with you to build a business development plans that will:

  • Help secure sources of funding
  • Include cash flow forecast statements
  • Develop your marketing strategy
  • Analyse your competitors business, promotion and advertising
  • Identify your target customers or clients