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Can I pay a dividend during Covid-19?
Paying dividends in lieu of salary is common (and tax efficient) for the vast majority of SME businesses, however directors considering whether to pay a dividend during these current turbulent times should take a range of factors into account, as the decision is much more complex than many realise! Whilst the last annual accounts of…
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BLOG: JRS extended and reflecting on Covid-19 support by Sean Farnell, Partner
After three months of measures being introduced to support businesses through the Covid-19 pandemic, Chancellor Rishi Sunak has now outlined how the Job Retention Scheme will be drawn to a close. The latest announcement included part-time working, tapering off employer contribution and a follow-up grant for the self-employed. The scheme will actually close to new…
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Cash flow is more important than ever – where do you go for help?
Over recent months cash flow forecasting tools have become some of the most in demand products required by business owners. With the market growing and the need increasing, we thought it would be useful to add some commentary to this and offer some reminders and solutions, to those still in need of a starting point…
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Businesses need longer-term support to survive release of lockdown
A Warwickshire-based accountant is calling on Chancellor Rishi Sunak to consider a further overhaul of the CBILS scheme. Sean Farnell is a partner at Burgis & Bullock which has offices in Leamington Spa, Nuneaton, Rugby and Stratford-upon Avon. He is making the call as a member of The Corporate Finance Network, which is also calling…
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Burgis & Bullock offers FREE forecasting and planning service for business recovery after Covid-19
Burgis & Bullock is helping businesses plan for life after Covid-19 with free forecasting and planning. The firm is offering the service to assist local businesses in ensuring their finances and operations are prepared for recovery. The free forecasting and planning briefings are being delivered online and have been a hit so far, with around…
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BLOG: Self-employed support online claim service set to open, Rosy Hughes
The online claim service for the self-employed will open next week on May 13 – providing much needed support for self-employed individuals across the UK. It comes nearly six weeks after Chancellor Rishi Sunak announced the support package. Originally, payments weren’t going to be made until June, but this is now being brought forward, and…
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Thousands of businesses could be missing out on Bounce Back Loan funding
Thousands of small businesses could be missing out on up to £50,000 worth of funding that they aren’t aware they are eligible for. The government’s new Bounce Back Loan scheme opened on May 4 with UK banks receiving more than 100,000 applications on the first day, and many businesses receiving funds in 24 hours.…
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BLOG: Bounce Back Loan Scheme a welcome addition, Sean Farnell
Chancellor Rishi Sunak has announced another new loan scheme aimed at supporting SMEs – and the news that the scheme will open on Monday, May 4 has been well received. The ‘Bounce Back Loan Scheme’ will hopefully be a quick solution for businesses that have been unable, or unwilling to, access the existing Coronavirus Business…
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Restrictions on Future Fund could lead to limited take up
A leading accountant has welcomed the new Future Fund but believes that restrictions could lead to limited take up from businesses. The government announced the new scheme to support early stage and start-up businesses which have been adversely impacted by Covid-19 – and are unable to secure finance under the existing Coronavirus Business Interruption Loan…