June 2020

Coronavirus set to cost UK’s SMEs £69bn

Coronavirus could cost the UK’s SMEs more than £69bn, with two-fifths at risk of permanently closing, according to a report by small business insurer Simply Business. The SME Confidence Report spoke to 3,700 small and medium sized enterprises across the UK in May and found that they estimate Covid-19 will cost them £11,779 each on average – including lost work

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Agent Update: issue 78 out now

HMRC’s latest Agent Update has been published and is ready to read at https://tinyurl.com/y7y6ju3u The technical updates and reminders include important Covid-19 updates, more on off-payroll working, PAYE and Corporation Tax news – and much more. There is news from The Pensions Regulator, and updates from the Issues Overview Group and recent points raised on the HMRC Agent Forum, of

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Using scenarios to stress test your business

Transcript from the video Today, I’d like to talk about how using scenarios can be helpful to stress test your business in different circumstances and help alleviate some of the anxiety associated with extreme uncertainty. Right now is a particularly interesting time as the uncertainty we face will unfold over weeks and months not years. It’s important to try a

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Leaders Council interview with Janet Jack

The Leaders Council of Great Britain and Northern Ireland is currently in the process of talking to leadership figures from across the nation in an attempt to understand this universal trait and what it means in Britain and Northern Ireland today. Janet Jack from The International Association of Bookkeepers was invited onto an episode of the podcast, which also included

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Episode 5 – Starting business from scratch and what I’ve learnt

Episode 5 of the IAB Podcast we interview Veronika Keates, winner of the IAB Accountant of the year award. In this episode, we ask Veronika:- • What’s your story • How did you start your business • What does winning the IAB accountant of the year award mean to you and your business? • What are the benefits for you

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ACAS launches guidance on mental health during coronavirus, whilst working from home

Workplace experts ACAS has published new guidance to help staff manage their mental health at work during coronavirus. A new ACAS-commissioned YouGov survey conducted has found that nearly two out of five employees working from home felt stressed, anxious or experienced mental health difficulties due to their working situation. The poll also found that: One in two people working from

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Real costs of Covid-19

Accountants have revealed that an alarming one in 10 of their SME clients have shared the fact that they’ve had suicidal thoughts, according to a shocking poll from ACCA UK. Asked about their clients’ mental health, some 89% of practitioners say their clients have reported feeling more stressed than usual and not sleeping, with 78% stating a worsening mental health

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Chancellor announces tapering of Coronavirus Job Retention Scheme

Changes to the Coronavirus Job Retention Scheme will come into effect on 1 July 2020, when businesses will be given the flexibility to bring furloughed employees back part time. Individual firms will decide the hours and shift patterns, so that they can utilise the best approach for them and will be responsible for paying employees’ wages while in work. In

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PM sets out ambition for apprenticeships

Prime Minister Boris Johnson has said that young people “should be guaranteed an apprenticeship” as part of the economic recovery plan post Covid-19. The promise comes as he acknowledged that it was inevitable that there will be “many, many job losses”. At a recent press conference Johnson said: “For young people in particular for who the risk is, I think,

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