Blog2021-03-16T10:15:06+00:00
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Clear speaking advice and plain language information from experienced, trusted and chartered accountants in Derby.
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Budget: Impact for business owners

The expected rise in corporation tax came, but with some crucial caveats that protect our small businesses, so the 25% corporation tax bill won’t apply straight away. We can wait until 2023 before the introduction. But more crucially those with profits under £50,000 will continue to pay corporation tax at 19%, with those having profits of £50,000- £250,000 these will be tapered, so only businesses with profits in [...]

By |March 3rd, 2021|

Bounce Back Loan Update

So it won't be long before the first anniversary arrives when Bounce Back Loans were first made available to businesses.  So what do you need to consider:  if you need to borrow, if you're not ready to repay, and if you want to defer making payments. The Bounce Back Loan Scheme (BBLS) was set up and gives lenders a government-backed guarantee of 100% to offer loans of up [...]

By |February 24th, 2021|

Know Your Numbers

You don’t have to be an accountant or bookkeeper to understand your numbers, just as you don’t have to be a mechanic to drive a car.  Having an overall understanding of your financial reports puts you in a far stronger position to make better decisions. On 25 February at 3.30pm we are hosting a 60 minute complimentary webinar where you’ll: Learn what each of your key financial reports [...]

By |February 16th, 2021|

5 Ways to get money back into your Business – Research and Development

R&D is a massively underutilised tax relief that many businesses could be benefitting from right now. We’re talking up to 33% of the costs incurred on activities that are considered eligible and this money can be used for any purpose. Money that is needed by businesses right now. But, not only that, there are also potential options for those businesses already making claims, to identify more funds. R&D Tax [...]

By |February 16th, 2021|

More money for businesses

More money for businesses than you know Even with a little glowing light at the end this unimaginably long tunnel, it does feel like for 2021, things just managed to get worse. But we’re not here to spread doom and gloom. We want to bring hope and open your eyes to options that until now you might not have considered for your business. More options than you realise. You’re [...]

By |January 27th, 2021|

Update: Kickstarting careers: The kickstart scheme and how it works for business owners

So reflecting back, you may remember that Rishi announced the kickstart scheme designed to “kickstart the careers of thousands of young people who could otherwise be left behind as a result of the pandemic”. What does it mean for employers? So if you’re looking to take on youngsters aged between 16 and 24 for a high quality role who are claiming Universal Credit a six-month placement, the government will [...]

By |January 27th, 2021|

The furlough low down

This History of Furlough... So, March saw the new word furlough that we all know so well, being put into place to support employers who were unable to operate as normal due to the pandemic. Enabling employers for those furloughed to recover a portion of the employees wage cost. The cost of the scheme has been substantial, with it now set to last until the end of April [...]

By |January 20th, 2021|

Lockdown 3: A few things to look out for

COVID-19: An Update Paying for COVID tests for your staff? If you’re thinking about providing a test for your staff and wondering whether these would be treated as a taxable benefit, there is an exemption as a tax free benefit, however this is set to expire on 5 April 2021, although there are calls for this to be extended. What support is out there? Remember the Job retention [...]

By |January 14th, 2021|

Tax needn’t be taxing – Ten Top Tips for your Tax Return

FILLING in your self-assessment tax returns needn’t be, well taxing. And, as the Government’s deadline of January 31 to complete and return your self-assessment forms looms, Beverley Wakefield, shares her top tips to help make things a little easier. She said: “There were more than 30,000 people in the UK who filed their tax returns over the Christmas period – including 2,700 people who send them to HMRC [...]

By |January 14th, 2021|

Welcome, Katie! Derby accountancy and business advisors Vibrant Accountancy welcome fourth new team member

A DERBY accountancy and business advice company has recruited its fourth new team member in less than 12 months as it goes from strength to strength. Vibrant Accountancy, based on Duffield Road, have welcomed Katie Hirst; a mum of three who will take care of the company’s book-keeping, accounts and, predominantly, payroll. She joins co-founders Ian Ball and Beverley Wakefield, Samantha Carter-Roe, Vibrant’s chief book-keeper, office co-ordinator Lynn McCabe [...]

By |December 10th, 2020|

The show must go on… Virtually!

Now is usually the time that Christmas Parties would be booked, you’d be looking over the menu to pick what you’ll be having, sorting out your outfits and counting down the days to the Office Party. The 2020 festive season will by unlike any other. Whilst a lot of us are hopeful, traditional office parties may not be an option this year… so you may already [...]

By |November 23rd, 2020|

Trio come together to mark Women’s Entrepreneurship Day

Three Marketing Derby female entrepreneurs are celebrating Women’s Entrepreneurship Day (19th Nov) by joining forces and working together, demonstrating the strength, resourcefulness and resilience of the Derby business community. Yvonne Gorman of Essential Print Services and Suzanne Dixon, founder of Kedleston Safety, have joined Vibrant Accountancy, as their chosen professional accountancy advisor and have teamed up with Bev Wakefield from the company as a true example of what Women’s Entrepreneurship Day (19th November) [...]

By |November 19th, 2020|

Lockdown 2.0: What help is out there for me?

Updated for Rishi announcements 5 November: Here we go again... with the news of us entering Lockdown 2.0, what does it mean for you as business owners this time round? Supporting Jobs If you're feeling a little confused about all the recent changes and not sure where you stand, we discuss the support available for jobs here: Scrap the Job Support Scheme for the moment, the Coronavirus Job Retention [...]

By |November 3rd, 2020|

Kickstarting careers: The kickstart scheme and how it works for business owners

So you may remember that Rishi announced the kickstart scheme designed to “kickstart the careers of thousands of young people who could otherwise be left behind as a result of the pandemic”. What does it mean for employers? So if you’re looking to take on youngsters aged between 16 and 24 for a high quality role who are claiming Universal Credit a six-month placement, the government will fully fund [...]

By |September 10th, 2020|

Is reengineering something your business needs to do?

Is re-engineering something your business need to do?   We've all seen the breweries and distilleries providing hand santiser during the pandemic and the designer clothing brands making scrubs and masks for the NHS, the formula 1 teams making ventilators. That's what reengineering is in the brief. It doesn't need to be a short term thing; you can re-engineer your business if you need to improve profitability, efficiency, qualify [...]

By |August 13th, 2020|

Key Furlough Dates

31st July 2020 First key date for your Furlough diary is that your CJRS* claim for the period ending on or before 30th June 2020 needs to be submitted by 31st July 2020. This is absolutely the LAST date you can make the claim and if you don’t submit a CJRS claim before this date you won’t be able to make any future claims for furloughing staff. HMRC issued [...]

By |July 28th, 2020|

Optimistic, confident, positive, collaborations

At last week’s Marketing Derby Property Zoommit 2020 it kicked off with a survey of attendees along the lines of ‘will life go back to as it was pre-pandemic and when?’. Interestingly most summit attendees believed that it will be next year when we will return to usual. 35% believed we will not get back to usual and there will be a new normal. Is this what you are [...]

By |July 24th, 2020|

What’s the retail sector’s picture?

With yesterday’s horrid news from the high street where thousands of jobs are set to go as major names announced the closure of stores and others cut roles in head offices combined with firms who are cutting previously furloughed staff as the scheme starts to wind down. The retail industry isn’t looking too healthy on the surface; with Intu going into administration, John Lewis keeping some stores permanently closed and [...]

By |July 3rd, 2020|

Got Questions?

Our Bev answered some questions from Derbyshire business owners over on Twitter via AahDoDerbyshire. We thought it would be great to round them all up here … Q: "What should I spend my bounce back loan on?" A: Great examples that businesses we know are doing are: investing in that bit of kit they've been after to needed to help you compete better, or be slicker something that widens [...]

By |June 26th, 2020|

An optimistic outlook for our city

What we learnt most from the Marketing Derby Business Live Talks is that our business community and public sector is fully unified on approaching bounce back with an optimism. Listening in to Steve Hall, Chair of Derby Renaissance Board, on Thursday 9 June the drive to build our city back to be better, stronger, sustainable, and future proof is critical. We heard much that we, as a local business, [...]

By |June 15th, 2020|

Flexible furlough … the new rules released

Flexible Furlough So Friday evening we received further guidance on the flexible furlough (and there were pages of the stuff) so to condense this down and give you the answers, we’ve summarised this into the key information, and then key questions that have been asked. There’s a new kid in town: flexible furlough Move over ‘furlough’ for the new sassing ‘Flexible furlough’ which will help so many businesses get [...]

By |June 15th, 2020|

You’re going it alone… sole trader loss case study

So, you’ve taken the plunge and decided you’re going it alone, you've read our first blog here, and want to consider how you may be able to use losses if you're a sole trader. Let's talk you through a case study. We recently took on a client who was trading as a sole trader. Let’s call her Mary. Mary was in her second year of trading and had been [...]

By |June 8th, 2020|

29 May COVID19 Update

‘Office lights will be turned on, windows thrown open, work clothes and school uniforms will be pulled out of the wardrobe, shops and factories will start to hum with activity’ were Rishi’s opening comments on Friday. As we enter this new phase we it won’t be quite as romantically put as this. Looking over the announcements we’ve summarised these below, or if you'd prefer to watch the job retention [...]

By |May 31st, 2020|

Business Recovery Planning Webinar

Right now, it’s ‘Business Unusual’ as businesses reopen after the Covid-19 crisis and adapt to an unfamiliar environment. We’re on the frontline of business support and we’re doing all we can to help our clients get to a new ‘Business as Usual’. Watch our Business Recovery Planning webinar below, where we’ll cover the most important steps you can take to ensure your business has the best chance of recovery, [...]

By |May 30th, 2020|

Are you Olympic ready?

We’re talking about whether you are ready for the next phase of business as lockdown eases and businesses are given the green light to open safely. On Thursday morning our Bev listened to the incredible speakers on the Marketing Derby Talking Business panel. And when listening to a speaker it’s clear there’s many lessons to learn from the world of sport for us businesspeople. That speaker was Jessica Piasecki, [...]

By |May 29th, 2020|

You’re going it alone… sole trader or limited company?

So, you’ve taken the plunge and decided you’re going it alone, and then you realise that you’ve made the first of many decisions. You’re in the pub, and let’s call him Dave, says ‘Ooh I don’t pay any tax and I’m set up as a Limited Company, that’s the best route to go”. Then you bump into Mary in the shops and she says “you definitely want to be [...]

By |May 13th, 2020|

Getting paid is critical right now

We have released our guidance on the quick wins for business owners to ensure you can get cash back into your business. If there’s anything we’ve included in this blog that you’d like more information or help on, please do get in touch with our Bev. Empathy is paramount Never take your eye off your cash flow because having cash flowing will give you peace of mind for the [...]

By |May 7th, 2020|

Key information for business owners

Every single business owner across the country has been impacted in some way by Covid-19; here at Vibrant we’re trying to provide as much information as possible to help you make decisions, access funding, look at your planning, sort your tax and cash flow analysis out and more. Here’s our round up of what business owners could be doing or looking at during lockdown. Get cash back into your [...]

By |April 17th, 2020|

Continuation of the FAQs

Did you read our first frequently asked questions blog last week? If not you can have a read here https://vibrantaccountancy.co.uk/a-run-down-of-the-financial-support-available-during-covid-19/ With the continuous updates we are receiving from the government there’s some new questions we’ve been asked that we’ve shared our answers too. Don’t forget Vibrant only use reliable sources of information many of which are listed here https://vibrantaccountancy.co.uk/covid19-not-fake-news/ As a director of my business can I furlough myself? [...]

By |April 6th, 2020|

A run down of the financial support available during COVID-19

The past week we’ve been updating our clients and posting on our social media all the updates the government have issued over the week to help businesses during this pandemic. There’s lots of new terms like furlough and various grants, loans and funds available that we’ve given a round up of here. If there’ something specific you need to know or if you’d like more information on anything included [...]

By |March 31st, 2020|

A vibrant team addition

Smashing our business objectives six months earlier than planned and bringing on new clients has meant we were able to bring our recruitment plans forward. We’re delighted to announce that Samantha Carter-Roe has joined the Vibrant Accountancy team this month. She’s here to provide our clients with more support with the day to day preparation of accounts and bookkeeping. Sam has a wealth of experience in servicing businesses with [...]

By |March 24th, 2020|

COVID19 – NOT FAKE NEWS!

We wanted to share the places with you which we are keeping a close eye on for the official information on COVID-19 support for businesses and individuals. Keep checking in as we'll be updating this regularly with more information as it's released. Detail Links to official source information Applies from How to Apply Statutory Sick Pay (SSP) https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-guidance-for-employees   https://www.gov.uk/statutory-sick-pay/how-to-claim Retrospectively from 13 March 2020 Directly with employers. Obtain [...]

By |March 23rd, 2020|

COVID-19: Impact and Help for business owners 21 March 9am

Too much news, and not sure where to look with COVID-19? We've produced a handy little guide with bite size chunks of information to help guide you in this period of uncertainty. Click the link below to download the PDF. We've also produced a handy little spreadsheet which shows where our news comes from, all of this is real news and not fake news. Please check our blog for [...]

By |March 23rd, 2020|

COVID-19 looking after our team and you

The ongoing Covid-19 outbreak is already having a huge impact on small businesses throughout the UK, and we’re all still coming to terms with what this will truly mean. Here at Vibrant, we’re putting in place a number of measures to safeguard our team, the service we provide and the wider community. COVID-19 remote working As of today, the Vibrant team are all working from [...]

By |March 18th, 2020|

Tax on company vehicles

The things you need to know about company vehicles. Did you know? Company car tax is payable based on the list price multiplied by the benefit in kind rate (based on the cars CO2 emissions and fuel type) and your income tax rate (whether you pay a basic rate of 20%, higher rate of 40%, or additional rate of 45%). At the minute, a company car would create a [...]

By |March 6th, 2020|

When Vibrant says ‘Tax doesn’t have to be taxing’ what do we mean?

If you’re: Putting off speaking to your accountant. Dreading that ghastly tax bill? Wondering whether there is more that could have been done? Then read on ... There’s a statistic which shows that 61% of accounting and tax professionals only discuss tax with you, their clients, after a transaction has taken place. We think this is way too late! There are so many reliefs and opportunities [...]

By |February 19th, 2020|

How much does an accountant cost

As with any purchase in life, a key consideration is cost, the same applies to considering accountancy fees. The fear of being ripped off, not getting a fair price  and perhaps not even fully understanding what an accountant does, means that quite rightly business owners want to be cost conscious and understand what they’re getting for their money. No one wants to suffer from buyers [...]

By |January 10th, 2020|

Christmas shouldn’t be taxing

So you've got the Christmas party plans all wrapped up and whilst it's a wee bit early to think about the arrival of Old Saint Nic you need to ensure you're not going to get taxed on your Christmas celebrations. Party exemptions There’s an annual party exemption, available to all employees in the business (or a specific location). Did you know that allowance is £150 per [...]

By |November 11th, 2019|

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