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Insights

Carrying out audits at a social distance

Audit is one of the services which we used to carry out whilst at our clients' premises. Lockdown prevented these client visits from happening and now, social distancing measures continue to impact on the ‘normal’ audit process. Although there is an automatic three month filing extension for accounts, companies over the audit threshold still have a responsibility to file an audit report with their accounts.

17 Aug 2020

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Carrying out audits at a social distance - news article image

Carrying out audits at a social distance

Audit is one of the services which we used to carry out whilst at our clients' premises. Lockdown prevented these client visits from happening and now, social distancing measures continue to impact on the ‘normal’ audit process. Although there is an automatic three month filing extension for accounts, companies over the audit threshold still have a responsibility to file an audit report with their accounts.

17 Aug 2020

COVID-19 Advice for business - Self Employed Income Support Scheme (SEISS) second grant applications - news article image

COVID-19 Advice for business - Self Employed Income Support Scheme (SEISS) second grant applications

If you were eligible for the first SEISS grant and can confirm to HMRC that your business has been adversely affected on or after 14 July 2020 by the COVID-19 pandemic, you’ll be able to make a claim for a second and final grant from 17 August 2020.

13 Aug 2020

What would an increase in CGT cost business owners who are looking for exit? - news article image

What would an increase in CGT cost business owners who are looking for exit?

The Chancellor has suggested that changes to Capital Gains Tax (CGT) and ER (now known as Business Asset Disposal Relief) would be easy gains for the Treasury, and there is clear evidence that it has been a target for the last couple of years. There is now speculation that the Chancellor will increase CGT in the Autumn Budget to help recoup some of the spending that has been incurred due to the Coronavirus recovery packages.

13 Aug 2020

VAT on discounts - Eat Out to Help Out Scheme - news article image

VAT on discounts - Eat Out to Help Out Scheme

If you are a restaurant owner and offer a 50% reduction to your customers through the Eat Out to Help Out (EOTHO) Scheme, is the VAT you are due to pay to HMRC on the discounted or full amount?

4 Aug 2020

COVID-19 Advice for individuals - Furnished Holiday Lettings - news article image

COVID-19 Advice for individuals - Furnished Holiday Lettings

If you have a furnished holiday let (FHL), it is likely you have been affected by the COVID-19 outbreak and not just in relation to the break in income from your FHL but because HMRC have a number of rules in relation to the definition of a FHL and the occupancy days of the property which are prescribed in order to qualify tor tax relief.

3 Aug 2020

VAT reduction and Eat out to Help Out – financial assistance measures for the hospitality sector. - news article image

VAT reduction and Eat out to Help Out – financial assistance measures for the hospitality sector.

On the 8 July, the ‘Mini Budget’ announced measures intended to support businesses affected by temporary closures and social distancing measures required by the COVID-19 pandemic. These were announced in order to financially assist the hospitality and tourism sectors and to encourage the public to spend money and gain confidence in the re-opened establishments.

27 Jul 2020

Find a new avenue, trust in your convictions - Barefoot Bakery - news article image

Find a new avenue, trust in your convictions - Barefoot Bakery

We have been talking to clients and contacts in order to understand how businesses have been re purposing through the COVID-19 lock-down. I spoke to Fraser Lloyd Jones, Co-owner of Barefoot Bakery

20 Jul 2020

And now, the end is near and so I face the final curtain - news article image

And now, the end is near and so I face the final curtain

As the office begins to fill up again, we open back up to see clients, and the traffic on the A34 and into Oxford starts to resemble a quiet weekday rather than a quiet Sunday, it does feel much more as if we are returning to normal.

17 Jul 2020

State of the market –the commercial property sector and the COVID pandemic - news article image

State of the market –the commercial property sector and the COVID pandemic

A large proportion of commercial property has lain empty during the coronavirus pandemic, certain sectors have been forced to close and the UK population had been told to ‘work from home where possible’. Consequently, speculation is rife about the future need for physical work-spaces given the relative success achieved in flexible/home-working. We spoke to a selection of commercial property professionals to ask about their experiences since lockdown easing measures have started to come into play and their projections for the future of the market.

15 Jul 2020

State of the market –the residential property sector and the COVID pandemic - news article image

State of the market –the residential property sector and the COVID pandemic

The economy and the property sector are inextricably linked. Buyer-behaviour, investor appetite and lender/landlord confidence are most commonly examined and referenced when there is significant damage to or speculation about the economy.. We spoke to a selection of property professionals from Oxford and London to ask about their experiences since lockdown easing measures have started to be announced and their projections for the future of the market.

9 Jul 2020

What does the increase in Stamp Duty threshold mean for you? - news article image

What does the increase in Stamp Duty threshold mean for you?

The government has increased the lower Stamp Duty threshold to £500,000 for property sales in England and Northern Ireland effective immediately from Wednesday 8th July 2020.

9 Jul 2020

Furlough Scheme update - Mini Budget 2020 - news article image

Furlough Scheme update - Mini Budget 2020

Rishi Sunak today announced in his economic update that the Coronavirus Job Retention Scheme (CJRS) will continue to wind down gradually until the end of October. However, the Government will now pay a jobs retention bonus to businesses who bring back furloughed staff and retain them until the end of January 2021.

8 Jul 2020

Plans to recover the hospitality sector - Mini Budget 2020 - news article image

Plans to recover the hospitality sector - Mini Budget 2020

The chancellor has today announced two new measures to help the hospitality sector recover from the devastating effects of coronavirus on the industry.

8 Jul 2020

COVID-19 Advice for business - Flexible furlough Leave - news article image

COVID-19 Advice for business - Flexible furlough Leave

The Coronavirus Job Retention Scheme (CJRS) changed on the 1st July. You can now bring back to work employees who have previously been furloughed, for any amount of time and any shift pattern.

1 Jul 2020

COVID-19 Update for individuals - FCA proposes extension to consumer credit support - news article image

COVID-19 Update for individuals - FCA proposes extension to consumer credit support

The FCA have proposed an extension to consumer credit support which we have previously covered.

29 Jun 2020

Sometimes it isn’t success that’s difficult so much as working out what success is - news article image

Sometimes it isn’t success that’s difficult so much as working out what success is

Ed Gibson discusses the meaning of success during these difficult times

19 Jun 2020

Adapting support and education to the changing needs of mental health - news article image

Adapting support and education to the changing needs of mental health

DFK UK & Ireland, a leading association of independent accounting firms have been talking to their clients and contacts in order to understand how businesses are re purposing through the COVID-19 lock-down. In the 12th and last in a series of articles, I spoke to Colette Norbury, Training Lead for mental health charity Oxfordshire Mind.

18 Jun 2020

COVID-19 Advice for individuals - High income child benefit - news article image

COVID-19 Advice for individuals - High income child benefit

Reductions in income due to the COVID-19 pandemic may lead to changes in the high income child benefit charge (HICBC).

15 Jun 2020

What our clients say

  • I have been a client of Shaw Gibbs since the 1960's and have always found a professional but friendly response from the partners or staff

    I have been a client of Shaw Gibbs since the 1960's and have always found a professional but friendly response from the partners or staff

    Richard Preston

  • Thank you for being such a great partner in building our business!

    Thank you for being such a great partner in building our business!

    Oege de Moor - CEO, Semmle

  • Experience, expertise and support was not only invaluable from a financing perspective, but also in assisting us to determine the future strategy.

    Experience, expertise and support was not only invaluable from a financing perspective, but also in assisting us to determine the future strategy.

    Charles Parry – John Parry Estates Ltd

  • Shaw Gibbs’ service provides timely expertise at a reasonable cost

    Shaw Gibbs’ service provides timely expertise at a reasonable cost

    OATS Limited

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