Professional Bookkeeping Services Shropshire

All businesses have to keep accurate records of their financial transactions. At the Hollies Bookkeeping, we understand that bookkeeping, payroll and accounting demands are involved in the running of a business no matter how small or large. We also understand that maintaining your financial accounts and records, supervising accounting staff, dealing with accountants, debtors and creditors all place pressure on the valuable time and monetary resources of your business.

Our services include Bookkeeping, Payroll (including Auto-enrolment), VAT Returns, Self-Assessment Tax Returns, Partnership Tax Returns, Construction Industry Scheme, Limited Company Set-up and filing of Annual Returns. We aim to relieve you of these demands by providing professional and efficient services at competitive rates whist at the same time helping you to avoid paying the high costs involved when engaging accountancy firms over an extended period of time.

Hollies Bookkeeping Shrewsbury have been providing first-class Bookkeeping services to businesses across Shropshire for over 10 years. Our team of professionals work tirelessly to provide Shropshire businesses with the best possible Bookkeeping services. We are proud to be a member of the Institute of Certified Bookkeepers.

SEISS (Self-Employment Income Support Scheme

Second SEISS grant explained

To qualify for the second SEISS grant the business must be adversely affected by the coronavirus pandemic on or after 14 July 2020. So, what will this mean in practice?

The Chancellor’s announcement on 29 May told us the SEISS (Self-Employment Income Support Scheme) would be extended with a second tranche of money available from 17 August.

Further details on this second grant were released on 2 July, but there are still outstanding questions.

We don’t know when the online portal will open for the second SEISS grants. But we do know the amount of the grant will be calculated at 70%...

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Coronavirus Job Retention Scheme the facts

As part of its response to the COVID-19 pandemic the government introduced the Coronavirus Job Retention Scheme and here are some facts.

The scheme allows all UK employers with employees on a PAYE scheme to designate those employees as ‘furloughed workers’.

Employers have access to Government support to continue paying part of these furloughed employees’ salaries and potentially protect the employees from redundancy.

The first phase of the scheme finishes at the end of June and will close completely at the end of October.

What is furlough?

The word ‘furlough’ generall...

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The wider reopening of The Hollies Bookkeeping offices

We just wanted to update you about the wider reopening of The Hollies Bookkeeping offices.

We are slowly re-opening up our physical offices from next Monday, 15th June!

At the moment we are looking at having the office open 3-4 days a week.

Clients will need to call first to ensure their bookkeeper is available and arrange a convenient day and time to pop in with paperwork.

To ensure our excellent, professional service is uninterrupted and as swift as usual, we will be working from home more and the team has been furnished with with new laptops and

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The new Statutory Sick Pay Rebate Scheme

The new Statutory Sick Pay Rebate Scheme, launching on 26 May, will enable employers with less than 250 employees claim the new coronavirus-related Statutory Sick Pay (SSP).

Tax agents like our experienced team here at The Hollies Bookkeeping Services can claim on your behalf, so please speak to us if you are unsure about what to do.

Employers are eligible to use the scheme if:

they’re claiming for an employee who’s eligible for sick pay due to coronavirus

they had a PAYE payroll scheme in operation before 28 February 2020

they had fewer than 250 employees across all PAYE

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A guide to the Self-Employed Income Support Scheme (SEISS)

The Self-employment Income Support Scheme (SEISS) is a temporary scheme set up by the government to help self-employed people.

It was initially set up for three months, but it may be extended, to help the self-employed survive the coronavirus pandemic.

While you’ll still owe Income Tax and National Insurance on any money you get through the SEISS, it’s a grant rather than a loan.

This means you won’t need to pay it back.

How much will you get under the SEISS?

SEISS gives self-employed people and members of partnerships the following support:

80 per cent of your averag

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Tips for the self-employed on how to thrive during Coronavirus

The Coronavirus pandemic has shone a light on the difficulties faced by freelancers, so we want to provide some tips for the self-employed on how to thrive.

Ordinarily the self-employed are not entitled to the same benefits as employed people, such as sick pay.

Currently, they may also lose income as companies start to cut costs and stop using freelance help.

Check your savings

We have no idea how long the measures that have been put into place to limit the spread of the coronavirus will last.

Nor do we know how effective they will prove for businesses in the medium to long term...

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Help for the self-employed during Coronavirus outbreak explained

Almost 5 million people are self-employed, working out at 15% of the UK workforce so we wanted to explain the help for the self-employed during Coronavirus outbreak.

The government faced criticism over announcing significant help for businesses and employees impacted by the coronavirus.

On Friday, March 26 it also unveiled a scheme for the self-employed.

The scheme allows certain (95% of) freelancers and partnerships to apply for a grant of up to £2,500 a month.

Here are the vital things to know right now if you are self-employed.

Look into the government grant

Self-employed...

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National Minimum Wage Increases from April 2020

The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over.

From 1 April 2020 the NLW will rise from the current rate of £8.21 to £8.72 an hour, in the largest raise since it was introduced two decades ago.

New rates from April 2020

The government has confirmed that the new rate will start on 1 April, 2020 and will result in an increase of £930 annually for 2.8 million full-time workers earning the NLW.

Workers aged under 25 earning the National Minimum Wage (NMW) will also see increases of between 4.6% and 6.5%, dep...

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A guide to self-assessment tax returns for the 31 January deadline

Around 11.5 million people filed a self-assessment tax return in the UK last year, and if you’re one, read our guide to tax returns for the 31 January deadline.

Who needs to file?

However, sole traders and self-employed people earning more than £1,000, as well as those in business partnerships, need to file a return every year.

The following people may also need to file a return:

Anyone earning untaxed income over a certain threshold, such as money from: renting out a property; tips or commission; income from savings; investments and dividends; foreign income

People earning mor

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tips to improve your bookkeeping in the new year

Tips for improving your bookkeeping in the new year

If you aren't keeping a good track of your business finances then maybe your 2020 resolution should be to read our top tips for improving your bookkeeping in the new year.

Review bank statements and credit card statements. These statements should always come to the business owner or card holder unopened. Review them thoroughly before passing them to the bookkeeper or other employee, thereby preventing unauthorised checks or credit card usage. These are the biggest losses within a small business.

Set up a petty cash box. Set up a petty cash fun for small purchases rather than char

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