Vale & West Chartered Accountants Blog

Category Archives:Accounting

Accountants helping businesses make savings, says survey

Accountants are saving businesses time and money as well as easing the pressure of rising inflation, according to a new survey.

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The significance of ‘One To Many’ letters from HMRC

Letters have been sent out to individuals listed as ‘Persons of Significant Control’ (PSC), urging them to check and, where necessary, correct their tax returns.

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How can cloud accounting reduce business costs?

Businesses across the UK are feeling the squeeze of increasing energy bills and raw materials, especially as the inflation rate recently hit 9 per cent.

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Cloud accounting: top tips to innovate your bookkeeping

The accounting world is constantly evolving into the digital world, with technology on hand to help with the everyday issues of financial management and bookkeeping. Read More

Tax planning for 2022  – what you need to know

No one wants to pay more tax than they are required to and yet every year hundreds of thousands of taxpayers miss out on opportunities to reduce their tax bill. Read More

Payroll: how to get it right

One of the key things that small and medium sized businesses (SMEs) need to get right is payroll. Read More

Making Tax Digital for VAT – What you need to know

The next few years will see several significant changes to taxation, including, more immediately, the further expansion of Making Tax Digital (MTD) for VAT in April this year. Read More

Take advantage of the extension to the Recovery Loan Scheme

Find out how your businesses can benefit from this Government-backed funding

Although much of the COVID-19 financial support has been withdrawn, the Government still wants businesses to access funding to aid their recovery.

That is why the Chancellor, Rishi Sunak, has extended the Recovery Loan Scheme until 30 June 2022 – instead of it ending on 31 December this year.

Intended to bridge the gap between the previous Coronavirus loans and regular credit conditions, the Recovery Loan could be worth up to £10 million per business, or up to £30 million across a business group.

However, as part of the extension to this scheme, certain criteria will change from 1 January 2022, including:

  • The scheme will only remain open to small and medium-sized enterprises
  • The maximum amount of finance available will decrease to £2 million, per business
  • The Government guarantee offered to lenders will fall from 80 per cent to 70 per cent.

To apply for the Recovery Loan Scheme, businesses need to check the list of accredited lenders on the British Business Bank’s website here.

Not sure if you are eligible or need help making an application?

Contact us for assistance

If your holiday got cancelled last year, then read on…

Were you one of many UK holiday-goers whose trip got cancelled due to the pandemic? Read More

Are you a Self-Assessment taxpayer?

If you are, then keep reading… Read More

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Email: accountants@valewest.com