Could this loan scheme help your business grow out of Covid?

Launched on 6 April 2021, the Recovery Loan Scheme has been set up to support access to finance for businesses as they grow and recover following the coronavirus pandemic.

The scheme is open to any business that has been affected by the pandemic and the money can be used for any legitimate business purpose, including managing cashflow.

The New Super Deduction Explained

What is the super deduction?

Businesses can claim 130% first year relief on qualifying plant and machinery bought between 1st April 2021 and 31st March 2023. Under the super deduction, for every pound a company invests, their taxes are cut by up to 25p. The government announced this as part of the 2021 Budget in March, in the hope that the scheme will encourage business investment and stimulate economic growth. The super deduction scheme is only available to Limited Companies. Unfortunately sole traders cannot benefit. To give an example of the available savings, if you spend £100,000, the corporation tax deduction will be £130,000. You will save 19% on £130,000, which is £24,700.

Where will your business be in 5 years?

Now more than ever, future planning is a vital part of a successful business.

Knowing where you want to be in the future will help with decisions today and give you motivation on the hard days.

You wouldn’t start a journey without knowing which direction to follow; the same applies to your business!

We’ve put together a guide to help you produce your 5-year plan and create a roadmap between today and your future goals.

IR35 in 2021/22: Why you could be better off without a limited company

Are you a contractor? Do you plan on working through your own limited company in the 2021/22 tax year? New IR35 rules could mean that it’s time to rethink the limited way of working.

In case you haven’t heard, there’s been some big changes to the way IR35 rules are applied to contractors working with large and medium sized businesses.