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.

Are landlords being targeted in the government’s tax clampdown?

If you’re a landlord and are unsure about current changes, The Hollies Bookkeeping can help.

Landlords are being warned that a clampdown on unpaid tax from rental properties is expected to intensify.

Experts point out that the government is looking to boost its funds following coronavirus spending – and that landlords who have failed to disclose their rental income may now be in their sights.

Morag Ofili, of law firm Harbottle and Lewis, said: “HMRC will be looking to claw back funds post coronavi

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What is the job retention bonus?

The government is introducing a new Job Retention Bonus to provide additional support to employers who keep on their furloughed employees in meaningful employment.

This will kick in after the government’s Coronavirus Job Retention Scheme ends on 31 October 2020.

The Job Retention Bonus is a one-off payment to employers of £1,000 for every employee who they previously claimed for under the scheme, and who remains continuously employed through to 31 January 2021.

Eligible employees must earn at least £520 a month on average between the 1 November 2020 and 31 January 2021.

Employe...

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What is VAT and how does it work?

The rate of value added tax (VAT) on hospitality and tourism from 20% to 5% has now started – but what isVAT and how does it work?

The cut by the chancellor started last month and it will last until 12 January 2021. It applies to food and non-alcoholic drinks as well as accommodation and admission to attractions across the UK.

Mr Sunak said the move is designed to "get the sectors moving and to protect jobs", but what is VAT and how does it work?

What is VAT?

Value added tax, or VAT, is the tax you have to pay when you buy goods or services.

The standard rate of VAT in the UK ...

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Corporate Insolvency and Governance Act 2020

How will measures introduced by the Corporate Insolvency and Governance Act will affect your filings at Companies House?

On 25 June 2020, the Corporate Insolvency and Governance Act 2020 (the Act) received royal assent. It came into force on 26 June 2020.

The measures introduced by the Act are to relieve the burden on businesses during the coronavirus (COVID-19) outbreak and allow them to focus all their efforts on continuing to operate.

Accounts

Companies and other types of business registered at Companies House will get more time to file account, under the act.

If your company...

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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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