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Businesses that deferred VAT payments last year can join the new scheme to pay it in eleven smaller monthly instalments from today. Eligible businesses will need to have deferred VAT payments between March and June 2020 under the VAT Payment Deferral Scheme and now have the option to pay their deferred VAT in equal consecutive…

The income tax thresholds and allowances have been set 2021/22. Tax rates for Scotland have been announced, and the rest of the UK tax rates are subject to parliamentary approval. For full details visit the government website.

Whilst staying true to our core, our goal this last year has always been to reach the end of the ‘covid tunnel’ with our clients in the healthiest financial position as possible. How, you ask? Through the delivery of timely updates and reminders; Reducing fees for those forced to close due to Covid Preparing and…

Hello and welcome to February’s instalment of Fab5. Isn’t the way this month falls and looks on the calendar particular satisfying, or is that just us?! Talking of calendars, this month’s feature does contain some important dates that may be worth noting down amongst some other useful ideas you may wish to take away. A…

Beckett Financial Services are one of our select partners who broker and consult on employee benefits to deliver solutions that employees understand and value whilst keeping employers compliant with well-run, cost-effective, bench-marked programmes. Here is a guest article from them, you can find out more information by visiting their website.       The past 12…

It’s been nearly a year since we entered the first lockdown and with that came the first round of financial support initiatives from the Government. Over the last year Chancellor Rishi Sunak has launched various support schemes to help businesses and individuals such as the Job Retention Scheme, SEISS grants, VAT deferrals and Business Grants…

There is a lot to remember as a business owner and important dates can easily get forgotten about. We’ve pulled together a list of 12 dates we think are useful for business owners to make note of and schedule in their diaries. Self-Assessments Dates The first significant date of the calendar year has already passed,…

January is a notoriously busy month for Accountants with the Self Assessment Tax Deadline to meet in amongst the usual workload.  Here’s a behind the scenes snapshot of what the Fabulous Group got up to in January, brought to life through snowmen of course! In a typical month, there is always payroll to run, management…

VAT can be very confusing, and, can cause an unnecessary headache for business owners. Because of this, we wanted to break things down for you and make VAT simple. Here is a guide as to when you might want to consider voluntary VAT registration. In this blog, we’ll look at if and when you need…

Fab5 Feature – January Welcome to 2021… It will be better than 2020. Monday was our first day back in the office after the Christmas break, it’s safe to say it was long overdue and much needed. Aside from the obvious, doesn’t the new year feel different from others?  I’ve seen a lot fewer resolutions…

Following the news of a third lockdown, Rishi Sunak has announced a fresh £4.6 billion support package for UK businesses. Throughout the pandemic one of the main focuses has been to support businesses and protect jobs and this remains a priority.   The new financial support package includes: £4 billion for a one-off ‘top-up grant’…

HMRC has given the go-ahead for tax-free virtual Christmas parties. It would appear the taxman isn’t scrooge and is in fact ready to spread some festive cheer! No one would have ever imagined that we’d currently be researching Christmas Party ideas to take online but following the government’s latest announcement it appears to be the…

The full details of the third Self-Employed Income Support Scheme (SEISS) grant have been unveiled, here’s what you need to know. The third grant which is equal to 80% of average trading profits, capped at £7,500, is available for the three-month period beginning 1st November 2020 and ending January 2021. Claims for this grant can…

The Eat Out to Help Out scheme was launched in August to help boost the economy and support the hospitality industry. Under the rules of the scheme, businesses were permitted to discount their customers’ bills by up to 50% per diner, up to a maximum of £10 per head.  Participating establishments could run the scheme…

The Fabulous Group has partnered with the award-winning Starling Bank, to support our clients with their business banking requirements. When business owners told Starling what they wanted from a bank account, they listened. Helpful features, no monthly fees, a super-fast setup, and handy integration with accountancy tools. When we heard about this, we knew we…

Fab5 Feature – November In times like these, it is vitally important that we focus on the things we really care about and that’s exactly what we intend to do with the Fab5. At the Fabulous Group, we really care about supporting small and medium-sized businesses and finding new ways to help them. We hope…

Set to end on 31st October, the CJRS aka Furlough has not only been extended to cover England’s second lockdown but until the end of March 2021 across the UK. This announcement came as a surprise to many and has received a mixed reaction from both business owners and workers. The following information is what…

Revisions to Coronavirus Business Support As we prepare to enter Lockdown for a second time, the government’s economic priority continues to be to protect jobs. In order fulfill this, the government has announced: An extension to the Coronavirus Job Retention Scheme (CJRS) until 2nd December (It has since been announced that the scheme will until…

Amid growing pressure, Chancellor Rishi Sunak, has unveiled increased support for jobs and workers impacted by tightened Covid restrictions.  The revised support builds upon the existing packages he set out earlier this month. The funding is available UK-wide despite the approach to restrictions varying across the devolved nations. To help make sense of what funding…

A new package of support measures for businesses. To further protect jobs and support businesses today the Chancellor Rishi Sunak outlined the Winter Economy Plan. The package of measures announced plan to help businesses through the uncertain months that lie ahead as the nation continues to tackle the spread of the virus. Since the beginning…