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Help to Pay from HMRC 0800 0159 559

HMRC has set up a dedicated Helpline to help businesses & self-employed in financial distress and with outstanding tax liabilities.

Call this helpline to agree a bespoke Time to Pay arrangement with HMRC.

This is where you agree with HMRC a bespoke payment plan for your outstanding tax liabilities.

If you are concerned about being able to pay your tax due to COVID-19, talk to us first as we can help you plan your call to HMRC’s dedicated helpline on 0800 0159 559.

And let us know how you get on – we’re keeping track of experiences to help guide others about their chances of achieving a good outcome.

Initial indications are very positive so don’t fret about your taxes until you see what’s on offer.

Do you get Small Business Rates Relief?

Some people are confused about the £10,000 grant, which seems to be linked to claiming Small Business Rates Relief. This Relief is something you apply for once (to your local Council) and then it may be rolled over automatically.

Serviced Offices and similar facilities usually charge an inclusive rent (that includes rates), in which case it seems you won’t benefit from the government grant – but details have not been announced so let’s wait and see.

If you don’t know whether you are entitled to this relief, you can:

ask your landlord who pays the rates
ask the Council who pays the rates
check the rateable value online
Rateable values are in the public domain – you can look up any business address: https://www.gov.uk/correct-your-business-rates

There are some additional conditions but generally if the rateable value is less than £15,000 and it’s your only premises, then you should usually be entitled to Small Business Rates Relief.

Do I have to register for VAT?

You do not have to register for VAT until your company has a turnover threshold of £85,000 per year (last update 2019).

However, there can be advantages of registering before that point, get in touch and we can go through those with you.

What is Making Tax Digital (MTD)

Making Tax Digital (MTD) is a government initiative that requires businesses to use digital records and file the tax and VAT online, using software that is compatible with HMRC. To find out who it applies to and when, read out blog Everything You Need to Know About Making Tax Digital.

I've never used cloud accounting, will it be confusing?

No, not at all.  There may be a short learning curve, but eventually, you will be sorry you didn’t switch sooner.  We will discuss your business with you and go through all your needs and issues.  Once, we’ve agreed the right apps for you, we can help you with training and will always be on hand to answer questions. Contact us for more information.

I want to grow my business, can you help?

Oh yes! Yes we can!  We love helping businesses grow and develop, it’s literally why we get out of bed in the morning.  We can work with you to do that, by getting to know your business well; it’s problems and hurdles, as well as it’s strengths and hidden potential.

Using this information, combined with a clear understanding of your goals, we collaborate with our clients achieve those goals, by breaking down a step by step plan that capitalises on those identified strengths and fortifies those weaknesses, provides clear benchmarks and evolves as your business does.  Get in touch with us now and we’ll get going!