Business Interruption Insurance Tax Implications

In January, the Supreme Court ruled in favour of small businesses whose insurance companies have refused to pay out for business interruption losses as a result of the pandemic. In the following article we look at the tax implications of these pay-outs. Business interruption insurance provides cover for losses as a result of events that…

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Online Selling Business

Lockdown restrictions have forced many businesses to close temporarily meaning many people have been in search of new ways to generate some additional income. Selling goods or clothes on sites such as eBay and Depop offers the opportunity to raise some much needed cash in these difficult times. However, what are the associated tax implications…

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Blue and White Baubles hanging from christmas tree

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…

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Fabulous Finance host Q&A on support available to businesses during the COVID-19 pandemic

Fabulous Financial have collated the latest government guidance in relation to the funding support available to businesses into an easy to follow summary.   Fabulous Financial Covid Summary   This is very much an evolving document that will continue to be updated with new guidance as and when it is released.  The information contained within…

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Business Support Guidance

Government Measures to Support Businesses. Offering support to business owners and their business is at the core of everything we do at The Fabulous Group and during these unprecedented times, it could not be more true. We understand the complexity of challenges being faced by businesses and therefore we must support one another more than…

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Government announces tax and spending plans in Spring Budget

Yesterday, whilst much of the country was busy stockpiling pasta, toilet roll and hand sanitiser, the Chancellor Rishi Sunak delivered his first Budget in the House of Commons under the new parliament. Sunak addressed the coronavirus outbreak in his opening speech and recognised the severe anxiety felt by many businesses about the possible impact of…

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The Fabulous Group’s relocation into Market Harborough town centre At the beginning of October, The Fabulous Group moved into their new home, 4a Church Street, Market Harborough. It’s safe to say we are well and truly settled in at last – all of the decor is complete and we’re getting familiar with the new scents…

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winding road in the sunset

You wouldn’t start a journey without planning where you want to go first, so why would start a business without planning it first either? When setting up your business, like with a journey, you need to know what you’re going to do, where you’re going to go and how you’re going to get there. Put…

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Sign indicating Exit

The thought of handing over a business that has cost you blood, sweat and tears to build may be tricky to grasp, but it is a fundamental part of the long-term strategy that should underpin your business plan. In this blog we discuss the pros and cons of three exit strategies for SME business owners.…

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Black mercedes car

What would go through your head if your employer gave you a company car? Perhaps something along the lines of ‘Great! A free car!’? Maybe you’d hunt out the most expensive, swanky vehicle available to you? Hold your horses. First things first, slow down and take some time to swat up on company car tax,…

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