Business Tips to boost sales, lower costs, increase profits and minimise tax by UK accountant James Fairchild.
Chartered Management Accountant James gives tips relevant to both established businesses and start-ups, as well as investors and side hustlers.
The contents of this podcast gives general case information which, whilst believed valid at the time of recording, can change and may not be the appropriate decision for your specific circumstances. You are advised to seek specific advice from an accountant, solicitor or financial adviser, as the case may be. The author, creator and the various podcast apps or websites have no liability for any reliance on the content herein. Content is aimed principally at England.
Redundancy and Starting Your Own Business
James gives some pointers to consider, when at the point of considering accepting redundancy and starting your own business.
Universal Credit for DIrectors and Furlough Extension to end October
James talks about a universal credit point, when someone who is an "employee" of their ltd co (for HMRC purposes) may yet be "self employed" for DWP purposes.We then discuss the extension to the furlough scheme, and James shares a draft letter he has made available for business owners to issue to their staff, covering matters such as Furlough rotation, holiday pay while on furlough, and starting to think about the future. This letter can be accessed at http://tiny.cc/furloughjames and we hope listeners may find it useful
New Microphone - Challenger Banks and Travel Money - two brief coronavirus updates
First episode with new Rode microphone. In this episode James refers to two updates today regarding the pandemic:bounce back loans - see https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/eligibility checker for the self-employed income support scheme https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-referenceThe bulk of the episode is on challenger banks and the various different cards and products intended to make overseas spending cheaper.
Coronavirus Job Retention Scheme - Direction
James talks about the CJRS ministerial direction from Rishi Sunak to HMRC, and the other announcements from last week.James also suggests some matters that may have the potential to be the source of future employment tribunal cases.
Coronavirus Job Retention Scheme Detailed Guidance and New Tax Year Points
James talks about the recently-issued guidance to this scheme, which clarifies a number of points.
He also mentions some changes as a result of being in the 2020/2021 tax year.
ISAs (last day of the tax year)
A brief chat around the different types of ISA, and in particlular a reminder to subscribers that tonight is the last day of the fiscal.