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Commenting on the Tier 2 restrictions announced today, Russell Nathan, head of hospitality, said: “The tier 2 lockdown measures announced today will be catastrophic for pubs and restaurants in London. This will result in a huge drop in revenue and with no financial help on offer from the government they are being served a double […]
Two of the Covid-19 funding schemes introduced by government to support businesses are coming to an end, with claim deadlines approaching this month. The second Self-Employed Income Support Scheme (SEISS) grant, announced in June, comes to an end this month. Self-employed taxpayers have until 19 October to claim the SEISS grant. The Coronavirus Job Retention […]
The new measures come just two weeks after the Chancellor’s Winter Economy Plan, where he announced the Job Support Scheme – billed at the time as a replacement for furlough. The support available is in a constant state of flux, and it can be difficult to keep up with the new measures, what they mean […]
Commenting on the announcements made by The Chancellor on furlough changes today, Russell Nathan, head of hospitality at accountancy firm HW Fisher said: “It’s a serious time for British business. The extension to furlough measures are reassuring, especially for those in hospitality who are forced to shut their doors, but the Government are still missing […]
Over the past few months, we have all faced a truly unprecedented situation. The global coronavirus pandemic has affected our families, our businesses, our communities and our way of life, in ways that we could never have envisaged. It is more important than ever that you have the right financial protection in place. The full […]
Commenting on the announcements made by The Chancellor on a winter support package today, Simon Michaels, CEO of HW Fisher Business Solutions said: “It’s a serious time for British business. We’re six months into lockdown and businesses are feeling prolonged economic pain. The new jobs support scheme outlined is a positive step, but 6 months […]
Digital transformation in the gaming industry has only been accelerated by the coronavirus pandemic, with the global video game market now forecast to be worth $159 billion in 2020 – around four times box office revenues and almost three times music industry revenues. The potential for new revenue streams as a result of digitalisation in […]
Capital Gains Tax (“CGT”) is a relative newcomer to the tax party, having been introduced to the UK in 1965, but it may be only just behind pensions in the race to be the next political talking point. Most people understand the idea of their income being taxed at particular rates, and the higher your […]
Russell Nathan, hospitality expert at accountancy firm HW Fisher comments: “This announcement is another blow to the struggling hospitality industry, who have been patient and flexible throughout the pandemic. No doubt they will pivot successfully again to encourage earlier evening meals, but with distancing and the weather closing in, the outlook is simply not economically […]
Among some of the various Covid-19 recovery schemes introduced by government to support businesses, is a new, little known, fund of £20 million from which business can access grants. Who is eligible for these grants? The grants are available to small and medium sized businesses in England. The size of the grants are between £1,000 […]
Commenting on the decision made by the High Court today on the landmark Business Interruption Insurance case, Rafi Saville, forensic partner at accountancy firm HW Fisher said: “This is a landmark case and one of the most controversial legal issues resulting from the coronavirus crisis. Today’s decision will affect over 400,000 small and medium businesses […]
Senior business and charity leader joins leading accountancy firm with a wealth of experience from both senior executive and non-executive positions – including the Jewish Leadership Council and Rugby Football League HW Fisher, the top 25 UK chartered accountancy firm has strengthened its leadership team with the appointment of senior business and charity leader, Simon […]
Nearly 400,000 small businesses are waiting to see if insurers will be forced to pay out on their business interruption policies after a landmark High Court case was heard in August. The issue of whether business interruption insurance policies cover pandemic-related losses is one of the most controversial legal issues resulting from the coronavirus crisis. […]
The new VAT reverse charge for construction services comes into force on 1st March 2021. It applies to certain supplies of construction services by construction businesses to other construction businesses where both are part of the Construction Industry Scheme (CIS). The measure is aimed at tackling missing trader fraud within the construction sector but will […]
Nationwide, the UK’s second-largest mortgage lender, recently announced a policy change, implementing restrictions on first-time buyers trying to get on the housing ladder. For these buyers, the changes are two-fold: 1) 75% of their deposits must have been saved independently, and 2) they must be buying properties at least 2 years old. With around 40% […]
As we enter the second half of 2020, it is important for charities to take stock of best practices, and to lay a strong foundation for any future uncertainties that Covid-19 may present. In the past few months, the pandemic has had a seismic impact on the sector, and our charity team has put together […]
The covid-19 pandemic has resulted in unprecedented financial challenges for businesses across the UK. For those in the hospitality and leisure industry, many have had to close their doors, on the advice of government, for several months and counting. The fate of many small businesses, particularly in the leisure industry, is now in the hands […]
From August, The Eat Out to Help Out scheme will be introduced, however Russell Nathan, senior partner, explains why it might not be as popular as first thought: “The eat out to help out scheme was initially warmly received by the industry. However in practice, it’s proving to be widely unpopular among restaurateurs, independents in […]
The reporting and payment of capital gains tax on disposals of UK residential property changed with effect from 6 April 2020. In practice, the change means that where a sale of a UK residential property results in a gain, this must be reported to HMRC within 30 days following the date of completion and the […]
If your business can’t wait until January for the retention bonus scheme, Simon Michaels, CEO of HW Fisher Business Solutions outlines what you can do in the short term to survive… Last week, the Chancellor announced a bonus for any furloughed staff that businesses retain. This is the latest measure to support businesses and bonuses […]
The Covid-19 pandemic has significantly affected corporate buy and sell activity worldwide, with the first quarter of 2020 cited as being down 25% on 2019 with a further decrease thereafter. We have seen a number of companies delay or abandon deals entirely due to concerns over financial uncertainty. Despite the initial impact of Covid-19, a […]
The Covid-19 pandemic has been a difficult time for many people, with the monotony of working from home, the anxieties and frustrations of childcare and home schooling, plus sleepless nights caused by financial worries and concerns for our friends and family who we have not been able to visit. Unfortunately, along with all these problems, […]
VAT should be reduced for the hospitality sector for a minimum of two years – January isn’t enough time to create long term certainty Our restaurants, pubs, shops and hotels are struggling. This is a timely announcement from Government as businesses are in desperate need of a clear action plan. It is vital we see […]
2020 marked the beginning of what the UN called the decade of delivery, the 10 years where governments, institutions and individuals would work with intent in order to achieve the sustainable development goals (SDGs) the UN had set forth. Meaningful action had built momentum thanks to activists and, increasingly, investors. As we all know however, […]
Russell Nathan, senior partner at top accountancy firm HW Fisher comments on the recent hospitality news: “Our restaurants, pubs, bars and hotels are struggling. Health comes first, but the lack of a clear action plan from Government is a concern. Many in the hospitality industry will welcome today’s announcements. It’s been a long time coming […]
The Coronavirus Job Retention Scheme (CJRS) will enter its second phase on 1 July. From this date, it will be possible to “flexibly” furlough employees by allowing them to return to work on reduced working hours, but still receive support for the shortfall from their previous working pattern. With the increase in flexibility comes a […]
HW Fisher, the top 25 chartered accountancy practice, has bolstered its corporate tax division with the appointment of Jason Steinberg as partner. Originally a trainee at HW Fisher between 1993-1997, Jason returns to the firm with over 20 years experience in UK and international corporate tax, having worked for two of the Big 4 firms, […]
The Charity Commission has provided guidance on what trustees need to consider in reporting serious incidents during and linked to the coronavirus pandemic. Having reviewed the guidance, there are several reporting scenarios that we would highlight as especially pertinent at this time, as outlined below. Charities must report if there is an outbreak of coronavirus […]
Along with an extension to the assistance for employers in the form of the flexible furlough scheme, the Chancellor has announced a second, if smaller, Self-Employed Income Support Scheme (SEISS) grant. Mirroring the reduction in the CJRS, the new grant will cover a further three months of profits for business owners who qualified for the […]
After weeks of supporting businesses through lockdown, the Government is now assisting employers in easing their employees back into work as the restrictions are relaxed. With some limitations still applying, and uncertainty in the economy, the new rules allow employers to increase the time spent working, whilst still contributing towards the costs of maintaining employment […]
It has been confirmed by the Treasury minister that organisations reimbursing staff for equipment purchased that enables them to work from home during the pandemic lockdown will not have to pay tax. We would caution however, that this exemption may not be as generous as it first appears. Generally, the rules on what an employee […]
With so many different loans and grants available to businesses during the Covid-19 pandemic there are many new challenges in how to account for the various support schemes available. Here we discuss some of the main forms of support available and being utilised by businesses and offer guidance as to how to account for these […]
Under the Coronavirus Job Retention Scheme, announced on 19 March 2020, the Government has put arrangements in place to provide grants to cover 80% of the salary of PAYE employees (up to a capped level) who would otherwise have been laid off during this crisis. Updates since scheme launch: On 12 May, the Chancellor announced: […]
Financial Support for the Retail Sector Client: Sole trader – designer Loan secured: £200,000 from HSBC through CBILS Approach: Through internal collaboration we were able to identify that the client was in need of financial support and it was passed through to the HWF Business Solutions team. We assisted in providing proforma documents for the […]
Originally announced by the Chancellor on 27 April, the Bounce Back Loan Scheme (BBLS) opened for applications on 4th May. This microloan is to help small and medium sized businesses struggling to obtain other sources of Government backed funding. The scheme will be delivered by lenders accredited by the British Business Bank and will provide loans from […]
HMRC has announced the temporary relief from VAT of Personal Protective Equipment (PPE). With effect from 1 May 2020, supplies of PPE will qualify to be zero-rated for VAT purposes until 31 July 2020. Previously, such supplies were subject to VAT at 20%. This will be a boost to the NHS and also to the […]
The government has issued, and in some cases subsequently revised, measures to support SMEs during this time. Here, Simon Michaels and Jonathan Bourne answer some key questions associated with the schemes in place to help SMEs. If you have any questions or need guidance for your business, please get in touch directly. Which employers are […]
The Government has only recently issued its help package for the self-employed during the impact of Covid-19 and many questions remain outstanding. Our Partners have answered some key questions for anyone who is self-employed and is looking for clarification on how to navigate the government guidance and what the best action to take is during […]
In the current circumstances we know a lot of charities are having to change the way they operate to ensure fundraising and funding can continue through the impact of Covid-19. Our charity department answer some key questions for anyone associated with a charity, looking for clarification on what the best action is for these organisations […]
On 20 April 2020 the Government announced a support package for innovative firms facing financing difficulties due to the coronavirus outbreak. The new package includes: An investment fund called the Future Fund which will issue convertible loans between and million to high-growth companies Grants and loans available to SMEs focusing on research and development (R&D) […]
Helping the Retail Industry Keep Up-to-Date and Make Well-Informed Decisions for the Future Partner: Ross Fabian Client: European distributor for a sports footwear brand Advising on: Coronavirus Business Interruption Loan Scheme and Coronavirus Job Retention Scheme During the last two weeks, the global pandemic has escalated into a financial crisis in the UK, as businesses […]
20 April 2020 The Government’s Coronavirus Large Business Interruption Loan Scheme (CLBILS) launched officially on 20 April 2020. Originally announced by the Chancellor on 2 April, further details were released on 17 April expanding the loans to cover all viable firms. It aims to provide finance to UK mid-cap and larger enterprises during the Covid-19 […]
In the current circumstances we know a lot of charities are having to change the way they operate to ensure fundraising and funding can continue. In response to this, Chancellor Rishi Sunak has announced a UK-wide £750m package to support charities during the coronavirus pandemic. The measures involve cash grants for charities providing key services […]
The uncertainty surrounding Covid-19 has huge implications on financial reporting. All company directors have a responsibility to prepare financial statements that give a true and fair view of the state of affairs of the company and of the profit or loss for the period. However, the implications of Covid-19 can make this very complex. Difficulties […]
Preparing to Keep a Healthcare Company Afloat in the Absence of Patients Partner: Joel Courts Client: Dental sector Advising on: Coronavirus Business Interruption Loan Scheme and Coronavirus Job Retention Scheme My client is in the medical/dental sector and was forced to stop seeing patients due to government advice. When we discussed what the options were, […]
You can use this scheme if you’re self-employed as an individual or in a partnership and have lost income because of coronavirus. You can apply as long as your 2018/19 self-assessment tax return has been submitted by 23 April 2020. You also need to have continued your professional acting activities in 2019/20, to still be […]
You can use this scheme if you’re self-employed as an individual or in a partnership and have lost income because of coronavirus. You can apply as long as your 2018/19 self-assessment tax return has been submitted by 23 April 2020. You also need to have continued your activities as a professional musician in 2019/20, to […]
Over the past few weeks, the UK Government has announced a host of packages to support individuals and businesses through the impacts felt by the coronavirus outbreak. We recently hosted a series of free webinars for SMEs, the self-employed and charities, advising on what the Government is offering and how clients can access it if […]
Who is eligible for the support? Despite the Chancellor’s saying that the package for the self-employed provides parity with employees, there are some very material differences. The first is the scope of eligibility. There appears to be no support at all for anyone with an income in excess of per annum. To be eligible for […]
On 20 March 2020 the UK Government announced temporary changes to the VAT system, as part of a package of measures in response to the ongoing COVID-19 outbreak. The main points are as follows: The deferral of most VAT payments due between 20 March and 30 June 2020; This therefore includes the VAT Return payments […]
19th March 2020 The Government has issued COVID-19 guidance for employers and small businesses. The guidance assists employers with issues facing the health and wellbeing of employees as well as informing them of certifying absences from work. Directors who have to temporarily close their business due to COVID-19 may be able to access support in […]
19th March 2020 The Government has issued COVID-19 guidance for employers and small businesses. The guidance assists employers with issues facing the health and wellbeing of employees as well as informing them of certifying absences from work. The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people […]
23rd March 2020 The Government announced in the Budget on 11th March 2020 that Small and Medium sized companies (with turnover up to million) would be able to access the “Coronavirus Business Interruption Loan Scheme”, from the week commencing 23 March 2020. The scheme has seen a number of updates since it was announced, and […]
Chancellor Rishi Sunak delivered his first Budget in the House of Commons yesterday, where he announced the government’s tax and spending plans for the year ahead. The Private Client team have provided comment on some of the reforms that will impact our clients most. Entrepreneurs’ relief This change to entrepreneurs relief is as good as […]
Ahead of the budget next week, top 25 accountancy firm HW Fisher outlines three areas of focus for the Government. HW Fisher explains why the government must provide organisations with clarity over the impending IR35 regulation, urges the Chancellor to think about the UK’s small businesses and avoid any moves that will stifle entrepreneurship. HW […]
While it looks like we are moving towards a cashless society, currency redesigns can still have a huge impact on businesses. It’s essential to be prepared and work with organisations that have proven expertise and knowledge of currency changes. With the right technology and the right training, businesses can be ready to accept the changes […]
HW Fisher have advised Colorado-based manufacturer of premium fly-fishing products, Mayfly Outdoors, on its acquisition of Airflo, a UK-based fly line manufacturer. As this was the company’s first UK deal, HW Fisher offered expertise and advice on British tax rules and performed due diligence on the acquisition, as the UK was previously unknown territory […]
HW Fisher, the top 25 accountancy firm, announces today its partnership with Funding Xchange, the leading small business funding marketplace. As a result of this collaboration, small to medium sized enterprises (SMEs) working with HW Fisher will now have quicker access to a wide range of debt funders on the Funding Xchange marketplace. The Funding […]
With the festive season just around the corner, employers are looking to reward their staff following a year of hard work, whilst embracing the festivities. HW Fisher reminds businesses how they can make savings thanks to a Christmas party tax break. Simon Michaels, CEO of HW Fisher Business Solutions, explains: “Many employers reward their staff […]
Top chartered accountancy firm, HW Fisher, have announced the expansion of their Forensic Accounting & Royalty Audit practice with a new division, Contract Compliance. Led by Director, Milan Vranic, the Contract Compliance team works with companies to identify opportunities for financial recovery, often resulting from non-compliance by suppliers with contractual obligations, while also highlighting process […]
11 June 2019 – Top 25 chartered accountancy firm, HW Fisher have announced today a new venture with strategic governance, risk and compliance consultancy, Compliance on Demand Limited which joins the HW Fisher family. The deal is a joint venture between HW Fisher and ex City Lawyer, Philip Olmer, who will both hold 50% of […]
30 May 2019, London – Top 25 chartered accountancy practice, HW Fisher, has expanded its audit division with the appointment of Darshna Choudhury and Paul Clark as partners. Darshna and Paul both joined HW Fisher as graduate trainees and will be instrumental in developing the firm’s audit and assurance services. Darshna has already built a […]
Our latest employee blog brought to you by Charlotte Grimston, Audit Senior based in our London office. She gives her story on what it’s like to work at HW Fisher.
20 March 2019, London – Top 25 chartered accountancy firm, HW Fisher, has advised The Fattal Hotel Group on accounting aspects for its acquisition of the long term lease of four former Grange Hotels in London, marking the Group’s first entry into the central London market.
Chancellor Philip Hammond’s second Spring Statement was delivered against a backdrop of political turmoil, following the voting down of Prime Minister Theresa May’s Brexit withdrawal deal.
When bosses at the top four audit firms were asked by Parliament last week whether they were happy with the quality of the audits they were performing, only one could bring himself to say yes.
Chancellor Philip Hammond has delivered his second Autumn Budget, exactly five months before Britain is due to leave the European Union.
Chancellor Philip Hammond has presented his first Spring Statement, with something of a spring in his step.
HW Fisher & Company has successfully brokered the sale of the football news site Squawka to the global media firm Catena.
Philip Hammond’s second Budget as Chancellor has the unique distinction of being the second Budget to be delivered in one year.
In November HW Fisher & Company assembled a panel of leading thinkers from the worlds of business, politics and journalism to assess the impact Brexit has had – and will have – on British business.
HW Fisher & Company has promoted five existing staff to partner and appointed Ross Fabian as an audit partner within their corporate team as part of an ambitious growth strategy.
Radio presenter and journalist Nick Ferrari talks about his successful career in the media, from door-stopping Princess Di to hobnobbing with the stars.
Fisher Performance Improvement is a service designed to help small and medium-sized enterprise (SME) owners boost their performance and proﬁtability without the usual ﬁnancial burden.
Growing old is never a question of choice. But we can choose how to secure our ﬁnancial future and the quality of life during retirement.
It says a lot about the state of British politics that when a senior cabinet minister resigned in March over the Government’s welfare reforms, his real motive was immediately judged to be something else entirely – Europe.
Might a non-EU UK end up aping the tax havens that sparked so much criticism following the release of the Panama Papers?
2016’s outstanding debut crime authors were celebrated in a new event designed to showcase new talent in the genre.
Most charities have them. They are a vital part of what they do. Yet many charities overlook them.