The government recently announced an increase to the Small Business Cashflow Scheme (SBCS). This scheme is available for businesses with 50 or fewer employees. The SBCS was introduced to support small to medium businesses and organisations struggling with a loss of actual revenue due to COVID-19. When the scheme was initially announced, businesses could draw …
The government has announced that they are activating the COVID-19 Resurgence Support Payment (RSP) to support businesses impacted by the lockdown. We take a look at it in more detail.
Why do I have to depreciate an asset? There are two reasons. One is for tax purposes and the other is because fixed assets have a long life. Depreciation is pretty important area to understand for most businesses. It will impact your profit and so affect the amount of income tax you have to pay. …
