Tilley'S Accountancy

Free review 💙
In this weird new predicament we are all in at the moment many business owners are faced with a rare occurrence of time available. I know there are many that are still able to work but for the rest it’s stand still. 😳
... Please use this time to adapt things that need improving, learning new skills, training staff and planning for come back whenever that may be.
Important area that’s often overlooked is the accounting function of your business.
I have been contacted by so many that needed figures for bank and universal credit but do not have the information to hand. Why because there systems in place are not sufficient.
We use 1tap app for our smaller clients and receipt bank and xero for those more established businesses.
Xero has reporting abilities which if enabled can give you month by month profit calculations, tracking and cashflow.
Now is the time to get your accounting system sorted and up to date and to help you we are giving free review of your current system if any and recommendations to help you move forward ready and charged
Please contact us for further information.
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DWP update

Coronavirus job retention scheme (furlough rebate) - update
We have had communication today from HMRC as follows: Service ready to launch 20 April (this is not for self employed scheme rebate-employed individuals only).
Employers can make a claim direct but will need to have PAYE authorisation with HMRC to do so. This can take 10 days or so to set up via www.gov.uk/paye-online/enrol
... If you are one of our payroll clients we have authorisation to do this claim on your behalf.
Please check either way and do not delay with this as will mean further time in getting the money back to you.
Any questions at all, as always please ask client or not we will still help where we can 💙🤞
#employers#ukbusinesswoman #payroll#businessadvice#finance#accountin g#smallbusinesssupport#tax#smallbusiness uk#covid#business#businessowner#consulti ng#
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Warning ⚠️ Scam Alert!!
I have had notification today of a client receiving a scam email pretending to be from HMRC to notify of a tax refund in process.
HMRC will write to you (never email) if a refund is due to you and we will always report to you in the first instance.
... You will also not have to apply for any refunds as we process them on your behalf via your tax return. The purpose of these emails is to obtain your bank and personal details.
Please do not respond to these emails. Report to us and we will advise HMRC of the reported scam.
Unfortunately due to the desperate situation most are in financially at the moment these target scams will be on the increase.
If ever in doubt about a communication. Talk to us first to check.
#besafe#hmrc#scam#selfassessment#selfempl oyed#tax return#tax#smallbusinesss#smallbusinessti ps#ukbusiness#business#businessowner
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Coronovirus Business Grant.
For those small businesses that have business premises which are registered with council via business rates you may be eligible for a grant of £10,000. Conditions are that your property was in receipt of small business relief or rural rate relief including those with rateable value between £12000 and £15000 which receive tapered relief.
... Your council will contact you direct however if you have not received this yet you can also apply online via local council website. You will need your business rates reference number. Our local council online application is Arun.gov.uk/business-covid-19#sbgf
There are amounts available to retail hospitality and leisure business so please let me know if you require details.
#accounting#business#finance#arundel#chic hester#tax#smallbusinessaccountant#small businessowner#entrepreneur
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Reflection
Ever wished for more time to get things done? I know I have and do.
Business life would be easy if everything went to plan however that’s never the reality. In truth we would never want it that way because that’s how we learn, adapt and improve to make things better.
... Something I see so much with businesses is that so much is not going to plan however business owners/management is so busy just trying to get the order/service complete something is better than nothing right 🤷🏼‍♀️ Reality is you are just going to get unsatisfied people looking elsewhere. My advice to this is to spend at the very least an hour each week to look at failures and those tasks that you did not get time for. Adapt and change things that are not working. Implement people/strategies/technology to get things sorted. Take the issues on before it’s taken out of your hands.
Please spend the time you have now to review your business. The time is now. Use these opportunity to make your business the best it can possibly be. Come out stronger and fighting. It’s now or never 💙
#dontloveitditchit#smallbusiness#uksmallb usiness#accounting#tax#selfassessment#ta xreturn#femaleentrepreneur#boss#arundel# chichester#business#businessowner
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End of tax year 5th April💙
Don’t know about you all but I have no clue which day it is these days 🤷🏼‍♀️.
Can’t forget this one end of tax year 5th April. What this means it is time again for completion of personal tax return forms SA100. I have already had a stack of clients ready and in. Thanks for those. ... For everyone on 1tap can you load on last lot of expenses and contact me when you are complete and happy for me to get started.
There no hurry with this you have until 31st January 2021 however I know a fair few will need figures for bank funding, universal credits, CIS subcontractor refunds, and mortgage renewals.
Hope everyone most importantly is staying safe and well out there. Any questions please just ask 💙
#smallbusiness#chichester#smallbusinessow ner#arundel#tax#westsussex#accounting#en trepreneur#selfassessment#taxreturns
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Vat registered businesses - COVID 19 advice
VAT quarter relevant to 29 February / 31 March / 30 April 2020
If you wish you can voluntarily defer payment of your VAT liability, for the quarter stated above until the end of the next tax year (i.e. you will not have to pay it until March 2021). This is optional, you can still pay it now if you want, it depends on you and whether your cashflow has been adversely affected by the COVID-19 crisis.... Under the government’s emergency measures for business, announced on 20 March 2020, VAT registered business are not required to make VAT payments that are due from 20 March 2020 to 30 June 2020. This will apply to VAT payments due for the following VAT quarters: • 29 February 2020: normal payment deadline 7 April. • 31 March 2020: normal payment deadline 7 May. • 30 April 2020: normal payment deadline 7 June. This is an automatic relief that does not need to be claimed. Your quarterly VAT payment is not cancelled, it will be deferred, and the VAT liability will need to be settled on or before 31st March 2021. If you take up the deferral simply do not pay this quarter’s VAT bill. You are effectively receiving a loan by the government which is designed to assist your cashflow, the aim being that you can use the cash to tide you over the next few months. You do not have to defer payment. If you feel that your cashflow is stable, you are free to make a payment on time, at the end of your VAT quarter in the normal way. Payment by direct debit: action required • If you have already agreed to pay VAT by direct debit you will need to cancel the direct debit with your bank before the payment is taken automatically. • Please ensure that you give your bank enough notice to do this for you. HMRC cannot cancel the direct debit from its end. #vat#accounting#business#finance#tax#smal lbusiness#entrepreneur#businessowner#sma llbusinessowner#chichester#arundel#wests ussex
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Self employed - Construction workers 👷‍♂️
We are fast approaching the 5th April the end of the tax year. Those in the construction industry with CIS deductions may be entitled to a tax refund. This is a difficult period for all however Tax returns can be filed as normal and we are here to help you with this. Rates for calculating self employed profits CIS deductions and preparation of the HMRC tax return is £240 plus vat. We also can supply 1tap App to help you record your... expenses.
Any questions please ask... #construction#constructionlife#constructi onworker#builder#selfemployed#ukbuilders
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Self Employed - This one is for you!! Self employed income support scheme
If you have been financially impacted by the coronavirus support is now available. The self employed can claim a grant of up to 80% of average earnings up to a maximum of £2500 pm. This will be based on average earnings from your filed tax returns for 2016-17, 2017-18 and 2018-19. When we say earnings this will be your profits not sales so income less expenditure as recorded on your tax returns. ... Please note one thing most would have missed is the chancellor stated taxable grant therefore this will mean any funds payable to you will be likely be included as income therefore taxed in future applicable tax periods. This will not apply if your income is still under the threshold.
If you only have your 2019 tax return filed or the last two for example it will be based on this average income. So if you filed only 2019 tax return and say your profits for the year were 12k, one month would equate to 1k so 80% may be claimed. This will be paid in one lump sum early June backdated to March and monthly thereafter if government deem it still necessary. If you filed your tax returns HMRC will contact you and tell you how to claim by letter!! They don’t email ever so please be aware of fraudulent emails. If they do happen to email as we are after all in extreme circumstances then I will let you know.
Who is not included? Earners with profits over an average of 50k. Those self employed of whom have never filed a tax return 🤷🏼‍♀️ And finally those not registered yet for self employment or those who have just started their business after April 2019 and therefore who were not due to file a tax return until the end of this tax year 5th April
Those who have not yet filed a 2019 tax return you now have four weeks to file it. Contact me in you need this done.
I am grateful for those that will benefit from this but I appreciate so many will also not. If this is you it will be back to universal credit. Anyone also that’s needs urgent help please also contact UC this includes those who are entitled to the support as there is a bit of a wait to claim.
Please share this post to raise awareness 🙏
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Frazzled!!
Is anyone else looking like this? Thank god for email telephone etc. You salon business owners are going to have a mass of people coming your way when we are on the other side.
I am working from home and juggling kids etc as I know most are. I believe I have answered all calls and messages. I don’t think I have ever had so many and am answering as I go as scared of missing one! I appreciate every single query plus you all sharing posts to get the word out, it me...ans so much. There are unfortunately so many confused about what help is on offer and I hope I am getting the message out there ok. It is hard as information is coming out slowly and changing daily which we can appreciate at moment but hopefully we will all be wiser on business guidance by the end of the week!
I hate seeing so many businesses suffer. I really do feel it for all of you and will do all I can to help!! Stay safe out there 💙
#selfemployed#uksmallbusiness#business#bu sinessadvice#smallbusinessowner#smallbus inesswestsussex
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Employers.
To gain access to the HMRC reimbursement of workers wages when they are unable to work as the business is shut down employees will need to designated as ‘furloughed’. This is employees that have been asked to stop working but not made redundant.
HMRC will reimburse 80% of furloughed workers wage cost up to a cap of £2500. ... A payroll scheme must be in place and workers on record.
Information will be submitted to HMRC thorough a new online portal to grant refunds and we will provide further guidance once we know more on this.
#smallukbusiness#finance#government#selfe mployed#consulting#ukbusiness#businessow ner
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Please share:
Home cooked fresh food delivered to your door Any where in the Chichester areas outside a ten mile radius we require a minimum order of 7 meals Contact us on 07812421406 or email us on chichesterhogsquad@yahoo.com ... Chicken leek & mushroom pudding ~ roasted root veggies & thyme jus Moroccan spiced tender lamb shoulder ~ lemon & coriander cous ~ cous Liver & bacon in a caramelised onion gravy ~ creamy mash ~ green beans and carrots Fish pie ~ Salmon ~ Cod & prawns ~ mash & gruyere cheese topping ~ Green beans & carrots Lamb rogan josh curry ~ pilau rice Steak & ale pudding ~ new potato’s ~ cauliflower & carrots Slow roast Angus beef ~ red wine gravy ~ crispy roast potatoes ~ parsnips & cauliflower cheese Pork goulash ~ & rice Spinach ~ sweet potato & chickpea curry & lemon basil rice Leek wild mushroom risotto ~ blue cheese and spinach topping All of our food is freshly prepared in our kitchens By experienced chefs using the finest of local Ingredients where possible delivered to your door ready to go in the oven or microwave everything can also be frozen if needed we can deliver Monday / Friday we require 24 hours notice our gourmet meals are 6.00 each or 5.00 each if you order 4 meals
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https://www.understandinguniversalcredit. gov.uk/coronavirus/ self employed

Hitting a brick wall today - Government, taxes and businesses, what are the facts.
So as I promised an update as I know more. The truth is at the moment I am hearing government support packages etc however details are yet to materialise. The more worrying thing is it appears any grants are only available if you have businesses premises. This will massively effect those small businesses with or without staff with no premises. I am sure more will come as the government have pr...omised but at the moment I am a little concerned. So what’s on offer 🤷🏼‍♀️ SSP refund for employees - however looks like two weeks only refunded per employee. The rest of SSP paid is for the business to cover. Question is how many people can survive on SSP? If you are self employed and therefore can’t get SSP you can claim employment support allowance (SSP). This is £57.90 for under 25 and £73.10 for over 25. Alternative is universal credit. Please call advice lines 0800 328 5644 (UC line). It can take according to HMRC website up to 13 weeks to access claim? With everyone off sick you can work out this is not going to be good. New measures hopefully put in place.
Other support available is: A 12 month period business rates holiday for retail hospitality and leisure business Small business grant funding of 10,000 for business in receipt of small business relief. Again appears only those only with premises Grant funding for those in retail hospitality with property rating £15k-£51k receive £25000. Business interruption loans available at some point however these will be subject to status and will take time to receive.
So I think as other countries have done help will be given 🤞 by freezing bills/mortgages/rent for the time being whilst quarantined and so for now I will assume they need more time to announce plans. I will report info as I am aware. In the meantime please refer to my cashflow post, retain business funds where you can speak to suppliers/banks review contracts and speak to HMRC to hold off on payment of liabilities.
Everyone is in the same boat so be compassionate, be kind and stay positive. HMRC business support 0800 0159 559.
We are here 💙
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Covid -19: Support for UK Businesses
Much advice is still unclear from the government however we will update you as we know more.
💙sick pay relief package for those with staff off. We are waiting to hear of a direct line or online application to claim. £94.25 per week can be claimed for each full time employee although you may wish to pay more than this if stated in employee contracts or you wish to do so regardless. ... 💙staff should be given priority at the moment we need to support one another. 💙self employed you must claim through universal credit new style employment and support allowance which is £73.10 for over 25 and £57.90 for under 25. Please note this requires you to have these years worth of NIC credits. See www.gov.uk/employment-support-allowance. 💙Rates 100% discount to those with rateable values less than 51k 💙government loan scheme possible but yet to see finer details. Please review business overdraft and seek alternative business funding. Please check interest rates. 💙Businesses please hold on to your cash where possible. Review tax payments, council tax and rent. We are waiting for government intervention. This may help with those plus loans to defer until this passes. Please do not withhold payments without getting advice. Check your contracts and discuss with suppliers to see if they can help. If not you must continue to pay as you are liable. 💙 do you have income protection insurance? If so this may cover you while you are off. Please also check other business insurance as this may cover you for time off. 💙HMRC support for businesses paying tax affected by COVID-19 dedicated helpline 0800 0159 559
It’s going to be a tough few months so we should support each other where we can. Further updates to follow #ukbusinesswoman#smallbizowner#selfassess ment#businessowner#businesssupport#busin ess
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Coronavirus and cash flow 🙀
So business owners are asking this question ‘how will my business cope with the effects of the Coronavirus’ and the reality is we don’t know. What you do now though in readiness is what will count. You all have heard of the saying ‘cash is king’ in business and this is what keeps everything ticking over. It is imperative now you start putting in provisions to help limit the knock on effect of what is to come. Please restrict the cash out of the bu...siness where possible to prepare for the next few months. Put the money aside so it’s there if need be. HMRC have announced time to pay arrangement meaning they will allow deferred tax payments. Please call numbers below to discuss this with them. Don’t just not pay this is important.
If you need any advice please give us a call on 01243 645076. We are here to help.. you don’t need to be a client to get advice.
HMRC payment support service line is 0300 200 3835. They can help with all tax late payments if not to be made on time. #supportsmallbusiness#smallbizowner#selfe mployed#cashflow#businesscoach
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International women’s day. Celebrating all the amazing strong beautiful women out there of the past present and future. 💙
This last year has had its struggles but also to acknowledge all the amazing things achieved too. Those achievements have happened as I have put myself in short periods of discomfort to enjoy the benefits after. I used to be the first to avoid any struggles but this is what makes us. In those struggles it’s how we perceive the lesson of that and how we m...ove on from it.
I like to think we all have people around us of influence that push us further to our goals and are generally happy for us and celebrate too in our achievements. I am extremely grateful to have the lovely @avascarlettbeauty and @emma_jade_beauty in my life who do just that. These two women are phenomenal and a massive positive influence to many and especially to me 💙 If you don’t have that influence then please do change your circle as it will sure make a difference to your life.
Please Don’t ever give up on your dreams, you don’t know how close you are to being where you want to be. #internationalwomensday#bosswomen#beautyp rofessional#uksmallbiz
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