Category Archives: Audits

Extension to the Self-Employed Income Support Scheme

The Chancellor has given extra help to the self employed for the November lockdown bringing the help in line with the amounts received by those employed. The extension to the Self-Employed Income Support Scheme will last for 6 months, from November 2020 to April 2021. Grants will be paid in 2 lump sum instalments each covering a 3 month period.  The Government will provide a taxable grant calculated at 80% of 3… Read Article →

Trouble on the Border?

A National Audit Office report on UK border preparedness for the end of the Brexit transition period has concluded that while progress is being made, significant disruption is likely. To read the report see the link below:

Changes Made to Apprenticeships

The government has announced a new apprenticeship scheme where employers can receive up to £3000 for each Apprentice hired. This policy has been implemented to boost the chances of school leavers finding jobs and new professions, especially during the coronavirus crisis. It rewards employers who are willing to hire and develop young talent in their workforce, and will allow apprentices to combine working with studying to gain skills and knowledge… Read Article →

Could There Be a Problem With the Government Loans for Businesses?

The coronavirus crisis has had an unprecedented effect on the UK economy. As a result the government has introduced a swathe of measures to try to stabilize the economy. This includes the Bounce Back Loan Scheme (BBLS) which “enables smaller businesses to access finance more quickly”, through a 100% state-backed loan of up to £50,000. The scheme was launched on the 4th of May and had more than 100,000 applications… Read Article →

Essential Information on the CJRS

The Coronavirus Job Retention Scheme (CJRS) is the government’s policy to help companies and employees during the COVID-19 crisis. Under the scheme the government will cover 80% of worker’s wages up to 2,500 a month. The scheme was launched on the 20th April. All the information about the CJRS can be found at the following link, please read it carefully:

Government delay VAT domestic reverse charge procedures for Builders / subcontractors until 2020

Industry representatives have raised concerns that some businesses in the construction sector are not ready to implement the VAT domestic reverse charge for building and construction on 1 October 2019. To help these businesses and give them more time to prepare, the introduction of the reverse charge has been delayed for a period of 12 months until 1 October 2020. This will also avoid the changes coinciding with Brexit. Further… Read Article →

VACANCY – EXPERIENCED PRACTICE ACCOUNTANT

The above position has now become available within our practice. If you have experience as a Practice Accountant and would be interested in applying for this position please send your CV to iane@alexbursk.co.uk

NEW PROCEDURES FOR BUILDERS / SUBCONTRACTORS EFFECTIVE OCTOBER 2019

VAT: NEW ACCOUNTING PROCEDURES FOR BUILDERS / SUBCONTRACTORS You may have read that new procedures are being introduced on 1 October 2019 which will affect any construction business where the contractor and subcontractor are both VAT registered. Under current rules, a builder charges VAT in the usual way. This is changing for supplies of both labour and materials between these businesses. The subcontractor will invoice the contractor without charging VAT…. Read Article →