Unbelievably Christmas is only 80 days away. The festive season is a time to celebrate your year’s success and give back to your dedicated workforce. It’s common to gift a staff bonus, in the form of a cash payment added to their wages. However, did you know that there is a more cost effective way to treat your staff this Christmas? This is how to...
Small and Medium sized Enterprises (SMEs) are a central part of the UK economy. SMEs play an important role in communities and collectively employ a sizeable workforce. It is essential that SME owners pay as much attention to tax planning as larger corporations. Here we explore SME tax planning. SME Tax Planning Prestige Business Management delivers specialist accounting for small to medium enterprises. Our dedicated...
A recession occurs when gross domestic product (GDP) shrinks during two consecutive quarters. Official figures report that GDP shrank by 0.2%. A second consecutive quarter of negative growth, will technically place the UK in a period of recession. Fortunately there are steps you can take to recession proof your business. How to Recession Proof Your Business Beyond these figures, UK businesses are already feeling pressure...
July 2021 Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs. Key Dates Coming Up Payment on Account Due – 31st July If you have a tax payment on account, remember to make your payment on time, which is due by midnight on 31st July Employee Furlough Contributions Rise – 1st August...
The impact of the safety measures introduced to combat the spread of COVID-19 has dramatically changed working practice, not least the market and value of commercial property. A workforce well adjusted to remote working, digital workflow management platforms and uncertain futures are all driving businesses to restructure and consider flexible office working. Falling Demand for Office Space Reforms Working Practice Markets have witnessed a far...
A return to office working 5 days a week is predicted to become the standard model within two years. This return to office working is being driven by the disruption to creative problem solving, but new working trends may also feature more prominently than we were used to pre-2020. Half of Workforce Home Working The Centre for Cities think tank has reported the prediction that...
Tide offers powerful, simple banking for modern businesses. Tide alternative bank account designed to reduce the time small to medium enterprises (SME) need to dedicate to their accounting. Prestige Business Management is proud to introduce Tide as our newest, professional partnership. Introducing Tide Banking At Prestige Business Management we take partnering with the right software and services very seriously. So we can offer you a...
A dividend is a reward of value, which can be paid out either as cash or in the form of additional product, distributed to the shareholders in return for their investment in a company’s equity. Usually a dividend takes the form of a payment from the company’s net profits. How to Distribute Dividends The majority of a company’s profits is retained within the company to...
Small businesses in England can access £20m of funding via a professional services grant, which includes accountancy advice. Since the recent announcement of the new winter economy plan, which replaces the autumn budget due to unprecedented economic uncertainty due to COVID-19, we have a clearer understanding of the government’s predictions for the UK’s economy over the coming months. Ministers say they have introduced one of...
August 2020 News Update – featuring additional news developments from our newsletter series The second round of SEISS grants is open for applications from Self-Employed workers and can be accessed between 17th August until 19th October. Furthermore eligibility has been extended to new parents. Over 860,000 ‘Bounce Back Loans’ have been issued since the Coronavirus Business Interruption Loan Scheme opened in May, with new applicants...
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