Dec 22 2021 Upcoming changes to the Recovery Loan Scheme Categories: COVID-19 The Recovery Loan Scheme (RLS) launched on 6 April 2021, and is designed to help businesses that have been impacted by COVID-19 to access loans of between £25,000 and £10 million. As a condition of the RLS, the UK Government offers lenders an 80% guarantee for applications, giving lenders confidence to provide financial support to UK more
Dec 20 2021 Bank of England increases interest rate Categories: EQ News The Bank of England has raised its base rate from 0.1% to 0.25%, the first increase in three years, to try and tackle growing concerns over inflation. While the rate has increased by only 0.15%, it will add to financial pressure on households with variable-rate mortgages and hit firms with higher borrowing costs. This could more
Dec 17 2021 Further funding for hospitality and leisure businesses Categories: COVID-19Leisure Following the latest Public Health Scotland (PHS) advice to postpone work Christmas parties and limit the amount of social contact with other households, many hospitality businesses have seen countless numbers of cancellations at one of their busiest times of the year. To offer financial support to those affected, the Scottish Government has announced an update on the support more
Dec 14 2021 Changes to NDR revaluations Categories: Leisure In response to concerns with the non-domestic rates (NDR) system in Scotland, the First Minister established an independent review group (the Barclay Review) in 2016 to consider how the rates system could better support business growth and long-term investment, and reflect changing market places. As a result of this review, the Non-Domestic Rates (Scotland) Act more
Dec 9 2021 Main announcements from the Scottish Budget 2022-23 Categories: Taxation Finance Secretary, Kate Forbes, delivered the Scottish Budget for 2022/23 to the Scottish Parliament on 9 December 2021. The main areas prioritised in this Scottish Budget were business recovery, the transition to “net zero” carbon emissions and tackling child poverty, with the doubling of the Scottish child payment having already been announced. We’ve highlighted the more
Dec 7 2021 The Taxation Basis Period Reform – be prepared! Categories: Professions The draft Finance Bill 2022 includes a major change to how partnerships and sole practitioners are taxed and will impact on many professional practices. The proposals will mean that income tax will be based on actual profits arising in a tax year to 5th April rather than profits in the accounting year ending in the more
Nov 18 2021 ALTAR Group make the move to employee ownership Categories: Taxation We recently supported marketing, design, and digital agency, ALTAR Group, to hand over the business to their dedicated and driven employees. Dundee based ALTAR Group is comprised of Avian, a design and brand development studio; Blue2 Digital, a web-design, development, and digital marketing agency; Ginger PR, a public relations and communication agency, and Kolabo, a more
Nov 16 2021 How can your food & drink businesses focus on sustainability? Categories: Food & Drink We attended Brodie’s Food and Drink Virtual Conference today and it was interesting to hear the speakers, along with everyone else following COP26, discussing sustainability in food & drink businesses. While there were many issues highlighted, the main one to consider is what can you do to appeal to this additional part of the market. more