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NEWSLETTER Friday, 11 September 2020

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Welcome to this month's issue of the Makesworth Accountants newsletter. 

We hope you find our articles of interest.

The Investors in People Awards 2020
The Contracting Awards Finalist 2020
Kickstart Scheme opens for applications
Self Employment Income Support Scheme Grants
Plastic bag tax charge to be doubled and extended to all retailers
More than £30 million lost to pension scams
Advisory fuel rates for company cars
Eat Out to Help Out - over 64 million meals
Self assessment deadlines
HMRC latest guidance for employers
Equity Investment Fund
Digital Selling Capability Grant
Business Recovery Grants - update
Companies House Resumes Voluntary Strike Off Process
 
The Investors in People Awards 2020

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We are very pleased to announce that Makesworth Accountants have been shortlisted in two amazing awards categories presented by-
The Investors In People Team (IIP).

Outstanding Use of Technology Awards 2020 & The Small Business Awards 2020.

Thank you IIP Team for this nomination.

 Read more
 
The Contracting Awards Finalist 2020

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We are absolutely delighted to announce that Makesworth Accountants have been shortlisted as for not one, but two awards in-
The Contracting Awards 2020.

Best Contractor Accountants & Best Contractor Accountancy (Under 1,000 Clients)

We are proud to be nominated on these prestigious categories which show our commitment and excellence on providing the best accounting services to the contractors across the UK. We thank The Contracting Award Team for this nomination and aim to bring home the winning trophy.

 Read more
 
Kickstart Scheme opens for applications

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On 2 September 2020, the government's £2 billion Kickstart Scheme opened for employer applications.
The scheme is part of the Plan for Jobs announced during Chancellor Rishi Sunak's July Summer Economic Update.
The Kickstart Scheme aims to create work placements for young people who are at risk of becoming unemployed for the long-term. Businesses can join the scheme, with the government paying employers £1,500 to help set up support and training.

 Read more
 
Self Employment Income Support Scheme Grants

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HMRC are inviting those individuals that are self employed or a member of a partnership and have been adversely affected by coronavirus to claim a second grant under the Self Employed Income Support Grant.
Applications for the first grant under the scheme closed on 13 July 2020.

 Read more
 
Plastic bag tax charge to be doubled and extended to all retailers

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The fee for plastic shopping bags in England will be doubled to 10 pence and extended to all shops from April 2021.
Small retailers, those employing 250 people or fewer, will no longer be exempt, the Department for Environment, Food and Rural Affairs (Defra) said.
According to Defra, since the charge was first introduced in 2015 it has successfully prevented billions of plastic bags being sold and ending up in the ocean and environment.

 Read more
 
More than £30 million lost to pension scams

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Over £30 million has been lost to pension scams since 2017, according to the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).
A total of £30,857,329 in pension savings has been lost to scammers since 2017, data published by the FCA and the TPR revealed. Reported losses ranged from under £1,000 to as much as £500,000. The average victim was a man in his 50s, the FCA and the TPR found.

 Read more
 
Advisory fuel rates for company cars

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New company car advisory fuel rates have been published which take effect from 1 September 2020. The rates only apply to employees using a company car. The guidance states:
You can use the previous rates for up to one month from the date the new rates apply.
The advisory fuel rates for journeys undertaken on or after 1 September 2020 are:

 Read more
 
Eat Out to Help Out - over 64 million meals

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The government has announced that more than 64 million meals were enjoyed by diners across the country during the government's Eat Out to Help Out discount scheme. The scheme closed on 31 August 2020.
Government figures show that restaurants had claimed for more than 64 million discounted meals as Eat Out to Help Out entered its fourth week.

 Read more
 
Self assessment deadlines

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Two self assessment deadlines are approaching:

5th October 2020

For those individuals who have not previously completed a tax return but need to report a liability for 2019/20.

31st October 2020

For those individuals who have previously submitted 'paper' self assessment tax returns the deadline for the 2019/20 return is 31 October 2020.

 Read more
 
HMRC latest guidance for employers

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HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on:

Coronavirus Job Retention Scheme and what employers need to do from August onwards Making sure you are paying the correct workplace pension contributions  Read more
 
Equity Investment Fund

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Covid-19 Equity Investment Fund will help early-stage high-growth potential businesses in Northern Ireland access financing to progress their business plans and prepare for recovery and growth.
Applications for Equity Investment Fund are currently now open. All legal documentation must be completed by 12 pm, 31 December 2020.
WHO IS ELIGIBLE?

 Read more
 
Digital Selling Capability Grant

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The Digital Selling Capability Grant is aimed at helping retail and wholesale businesses grow online sales, DSCG is part of a wider COVID-19 support package to help eligible businesses progress recovery plans, strengthen supply chains, develop new products and access finance.
DSCG can help any small or medium-sized Northern Ireland retailer or wholesaler prepare for growth, develop their customer base and find new markets by enhancing their digital offering, building e-commerce capability and increasing online sales.

 Read more
 
Business Recovery Grants - update

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In July, the Minister for Regional Growth and Local Government announced £20 million new government grants to help smaller and medium sized businesses recover from the effects of the coronavirus pandemic.
Thousands of smaller businesses in England could benefit from £20 million of government funding to help them recover from the effects of the coronavirus pandemic.
The funding will be available from Local Enterprise Partnerships (LEPs) and the level of funding per LEP can be seen here:

 Read more
 
Companies House Resumes Voluntary Strike Off Process

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The process for companies that have applied to be struck off the register resumed 10 September following changes to temporary measures announced in April 2020.
Due to the coronavirus (COVID-19) outbreak, Companies House paused all strike off activity to relieve the burden on businesses and to protect creditors and other interested parties who may have had difficulties in registering an objection.
The measures have been reviewed monthly and the latest change has been implemented after careful consideration and feedback from customers and stakeholders.

 Read more
 

If you would like to discuss any of these articles in more detail, please call us in the office. 


Kind regards

Makesworth Accountants

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Meet Sanjay


Sanjay is the founder of Makesworth Accountants and has a huge impact in transforming the firm into a fast-growing business. He sits in ACCA Practitioner’s Panel Network and has been interviews by ACCA as an influential figure for his enthusiasm for wanting to make a difference and influence younger generations.

 Visit website  Linkedin  Twitter

Makesworth Accountants

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In preparing and maintaining this newsletter every effort has been made to ensure the content is up to date and accurate. However, laws and regulations change continually and unintentional errors can occur and the information may be neither up to date or accurate. Makesworth Accountants makes no representation or warranty (including liability towards third parties), express or implied, as to the accuracy, reliability or completeness of the information published in this newsletter. The articles shared with you in this email are intended to inform rather than advise. If you do or do not take action as a result of reading this newsletter, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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