There are key aspects of financial regulation and taxation legislation that you should be aware of.
You will find below some information that we consider very important to the health and long-term prosperity of your firms.
Happy New Tax Year
We have sent out a summary of the main points of last week’s budget to all our clients. The summary highlights the main ways in which the budget will impact upon their businesses. If you are not an existing customer but would like to receive a copy of this summary please contact us.
New Government Grants Available
As you may be aware, the Scottish Government opened up 2 new funds to provide additional support to those businesses affected by COVID-19. The funds are;
- The Newly Self-Employed Hardship Fund
- The Mobile and Home-Based Close-Contact Services Fund
The Newly Self-Employed Hardship Fund is designed to help alleviate financial hardship for newly self-employed people. The scheme offers a one-off £4,000 payment for those whose status as being newly self-employed makes them ineligible for the UK Government’s Coronavirus (Covid-19) Self-Employment Income Support Scheme (SEISS). The fund will be open to applications for four weeks.
The Mobile and Home-Based Close-Contact Services Fund is for owners and operators of mobile and home-based close-contact service businesses and for registered driving instructors. It is not for employees of those businesses. You must operate your business primarily on a mobile basis or from home. “Mobile” means that you routinely (more than 50% of the time) operate your business from multiple locations, and not exclusively from fixed premises used solely for business purposes.
Third SEISS Grant Applications Now Open
As you may already know, the UK Government’s Self-Employment Income Support grants scheme re-opened to allow you to apply for the third grant.
Unfortunately, we can’t apply for you or on your behalf, you have to apply personally. However, to make it easier for you to apply we have included the link below for you to click on to enable you to claim.
Before you click on the link please be sure that you have the following information handy:
Your UTR number
Your NI number
Your Government Gateway login
If there is any way in which we can support you in making your application please don’t hesitate to get in touch.
In the First Minister’s most recent announcement (17 November), the following measures were announced.
In addition to the UK furlough scheme, all businesses that require to close, at any level, are eligible for a four-weekly grant of £2,000 or £3,000, depending on rateable value.
Grants of £1,400 or £2,100 are available to businesses that are open, but subject to trading restrictions.
Eligible businesses can apply for these grants now through their local authorities.
In addition to this, a £30 million discretionary fund has been established to enable local authorities to provide additional support for businesses where they consider that necessary or justified.
There will be an additional £15 million available for newly self-employed people who have not been able to access other forms of support.
An additional £15 million will be made available to local authorities to help with the community and social impact of a move to level 4.
More details of these funds will be made available shortly. As soon as the details emerge, we will be in touch with customers.
Anti-Money Laundering (AML) Legislation
As a provider of financial services and support, we must comply with all legislation and regulations pertaining to anti-money laundering and the proceeds of crime.
This regulation is comprehensive and detailed and we make every effort to ensure that we comply with it. To find out more about the legislation and regulations, click on the links below.