2021 BUDGET
‘Whatever it takes‘ A phrase used repeatedly in Sunak’s opening statement, a broad warning to MP’s and citizens alike, of sacrifices to be made and hard times to come. A budget of this kind would be rarely seen out of wartime, with unprecedented deficits, spending and government support needed for such a crisis. COVID-19 has […]
2020 Summer Statement
2020 Summer Budget The Chancellor announced several changes to tax rates and introduced new measures in his 2020 Summer Statement with the aim of easing the pressure on the sectors most severely affected by the COVID-19 crisis. These announcements are likely to directly affect not only SMEs within key sectors, but also house buyers any […]
Cash Flow Tips for Small Businesses During COVID-19
Cash flow relates to how money flows into and out of your business by way of income and expenditure. In order to stay solvent, more money needs to be coming in than going out. Maintaining this positive cash flow means bills, supplier costs, wages and other outgoings can be met on time. Negative cash flow […]
Am I Employed Or Self Employed?
How do you decide? Although there is no clear-cut answer to this question, HMRC has a series of guides for tax and national insurance contributions. This sets out the steps and a series of questions to test the particular circumstances of any working relationship. These cover areas such as: Ultimate control of work Personal service […]
Covid-19 Guide For Landlords
Given the lockdown measures being extended by the Government for at least a further 3 weeks, landlords need to be aware of the changes made by the Government in relation to the COVID-19 pandemic and what it means for them. The situation is changing rapidly – with further announcements expected shortly – Redwood Accountants will […]
COVID-19 Business Updates
Coronavirus Covid-19 Self Employed Update (1st June 2020) SEISS And Furlough Schemes Extension & Phasing Out Plan The latest announcement from the Chancellor laying out his plans for the Furlough Scheme and SEISS included details on what would be expected from employers in terms of furlough payment contributions, additional fund being made available to qualifying […]
Contractor Tax Planning – A Complete Guide
Contractor Tax: Introduction Contractors and freelancers make up a larger proportion of UK professionals than ever before. According to the Office of National Statistics, there are now over two million contractors working in the country – contributing £119 billion to the economy. With technology advances making it easier for people to work for themselves, the […]
Small Business Accountants
Small business accountants are vital to the success of any small business and can not only ensure that a business is compliant with UK business and tax law, but also provide the foundations of financial stability and future growth. What are small business accountants? A small business accountant is a trained professional who prepares, audits […]