We are thrilled to announce that Danielle Cresswell and Alastair Tough have joined the Alexander Knight & Co team.
Bringing a wealth of experience from her time working at accountancy practices across the region, Danielle will provide hands-on support in the role of Manager. In her spare time, you will find Danielle either walking her beloved Shih Tzu, Ty, or cheering on top tier rugby league club, St Helens.
Alastair recently graduated from the University of Warwick and has chosen to take the first steps of his accountancy career with us. Joining as an Assistant Accountant, Alastair recently relocated from Nottingham to be part of the Alexander Knight & Co team and we are so pleased to have him.
Murray Patt, founder of Alexander Knight & Co, said:
“We are delighted to welcome Danielle and Alastair to our team. It’s fantastic to have them on board as we enter the exciting next stage of growth as a business.”
Welcome to the Alexander Knight & Co team, Danielle and Alastair!
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Our team has analysed yesterday’s budget and we have now produced our 2021 Budget Report which covers off all the main issues you need to know as a business owner. Click below to download.
If you have any queries about how any of the measures impact you and your business please speak to our team on (0161) 980 8788 or email murray@alexanderknightaccountants.co.uk
Rishi Sunak, the Chancellor, has confirmed some key changes that will impact you and your business. We are analysing the detail of the changes and we will update you very soon on what it means specifically for your business.
We feel that the Chancellor has listened to the concerns of business owners and their professional advisers and whilst the Treasury needs to balance the books, the good news is that the main tax rise (corporation tax) isn’t effective until 2023.
The ‘super deduction tax break’ (see below) looks very interesting and we will be looking more closely into this to see where our clients can benefit. Capital Gains Tax (CGT) rules appear to remain unchanged – but we will be checking the detail of the official budget report today.
The top 5 things you need to know today are:
1) Furlough extended until October 2021
This measure is helpful if your business needs ‘breathing space’ to enable your business and staffing levels to normalise steadily as the economy revs up after lockdown The scheme tapers with a 10% contribution expected by employers in July – and a 20% contribution in August and September. Speak to us for help in processing your new furlough claims accurately.
2) Corporation tax increase
Corporation tax will rise to 25% (up from 19%) in April 2023 – but only for firms with profits of more than £250,000. A new, ‘small profits rate’ will be established at 19% (as it is now) for firms with profits up to £50,000. In addition, the rate of 19% will taper up steadily to 25% for companies with profits above that level up to £250,000.
3) New ‘Recovery Loan’ Scheme
A new loan scheme (separate from bounce-back loans and CBILS) is being launched, of which 80% will be underwritten by the Government for lenders). We will be looking closely at who can apply, how the rates will work and what the lending criteria will be. So far we know that the loans range from £25,000 up to £10m and firms have until the end of the year to apply.
4) Super deduction tax break
A new super deduction tax break has been launched for firms that will reduce their tax bill by 130% of what they spend on investment. It’s a significant change to current capital allowances legislation. We will be checking this area very carefully.
5) Last orders…
Want to buy your local pub? A new £150m Community Ownership Fund will give you the chance to buy into endangered pubs, sports clubs, theatres, music venues and even post office buildings. Under the fund, which will open in the summer, community groups will be able to bid for up to £250,000 matched-funding to buy local assets to run as community-owned businesses. Bids are to open later in the year. Cheers!
SPEAK TO OUR TEAM IF YOU NEED MORE SUPPORT ON IMPLEMENTING THE CHANGES CONFIRMED IN TODAY’S SPRING BUDGET.
https://alexanderknightaccountants.co.uk/wp-content/uploads/2021/03/Are-you-a-Newly-Qualifed-Accountant_-Join-our-team-1.jpg9001600alexanderknighthttps://alexanderknightaccountants.co.uk/wp-content/uploads/2022/02/aknight_logo-white-2.pngalexanderknight2021-03-03 15:57:162021-03-03 15:58:04BUDGET 2021: a snapshot summary for business owners
New skills have been acquired by all business owners during the past twelve months. Entrepreneurs are a resilient bunch and many have successfully been able to evolve their businesses and their skillsets during the pandemic. In many sectors, they are beginning to thrive again or at least, as the vaccine is being rolled out, starting to feel more positive about the future.
Therefore, the mindsets of many business owners have turned from ‘survival mode’ to ‘growth mode’ as they tentatively seek to expand their teams to enable them to thrive in the looming post-Covid business climate.
For most people, business growth is synonymous with hiring new people.
Recruiting in a pandemic certainly presents its challenges. We talk to many business owners who say the way they hire people will have to change if they are to attract the best staff not only during lockdown but afterwards too.
Remote-recruiting
On the one hand, it’s easier and more convenient than ever before to undertake interviews and assessments via tools like Zoom and Teams.
Attracting candidates digitally through social media and the ease of applying for jobs on platforms like Linked In means that, in theory, it should be simple to attract people to roles that need to be filled. Recruitment agencies can also play a positive role if they are fully tuned into the candidate you’re looking for and can articulate it well to the ‘marketplace’.
On the other hand, some people are reluctant to make the move from their existing employers in these times of uncertainty and competition is fiercer than ever before for the right candidate.
It’s an attractive role -plenty of opportunity for the right candidate to succeed in a supportive environment, along with flexible working arrangements on a hybrid basis from our Grade A office space in Hale village. Despite us only just starting the search we’re in the fortunate position of having strong interest in the role already and we are happy to take our time in selecting the right candidate.
Take your time
Some businesses, however, aren’t as fortunate as us and don’t have the luxury of time and/or the magnet of being an ’employer of choice’ in their marketplace. It’s these types of business that will have to work harder than ever before in modernising their recruitment process in order to attract good candidates in 2021.
If there’s one piece of advice I’d offer, based on my experience of running a business and working with many successful entrepreneurs, it would be that it is far better to wait for the right person to add to your team than recruit in haste and regret it for a long time afterwards. Taking care to select the right person for the job will pay dividends further down the line as we emerge from lockdown.
https://alexanderknightaccountants.co.uk/wp-content/uploads/2021/03/Untitled-design-19.jpg7972048alexanderknighthttps://alexanderknightaccountants.co.uk/wp-content/uploads/2022/02/aknight_logo-white-2.pngalexanderknight2021-03-01 11:16:062021-03-01 11:27:29Growing your team (and ours) in a pandemic
We are looking for a bookkeeper to join our team of accountants in Hale, Greater Manchester.
Our clients are entrepreneurial businesses mainly based in Greater Manchester and Cheshire.
Key Responsibilities:
Manage a portfolio of clients to ensure their day to day bookkeeping requirements are met ✅
First port of call in assisting clients with bookkeeping queries ✅
Preparing and posting journals including accruals, prepayments, depreciation ✅
Assisting the accounts team with the preparation of annual statutory accounts ✅
Preparation of client VAT returns ✅
The ideal candidate will have solid experience working within a similar role, experience with Xero and Sage will also be preferable, you will also have good IT and communication skills. We offer very flexible working practices – currently a mix of office-based (in our Grade A office space in Hale village) and home-working.
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Perhaps you have recently left 6th form, college or University?
Join our growing practice in Hale as an apprentice accountant
The role: Apprentice Accountant
Alexander Knight & Co is a leading accountancy and audit practice based in Hale, Greater Manchester. We have a strong, positive and entrepreneurial culture, reflected in our impressive client base.
We are growing and we’re hiring now. We pride ourselves on recruiting the best people so that our clients can be assured they’re in safe hands. We are now looking for an apprentice accountant – at either L3 or L7 – to join our team at the start of 2021. We have a good track record of helping the next generation of accountant develop in their career.
Jack joined us as an apprentice and is now progressing in his career as an accountant.
Read Jack’s story here – he joined us as an apprentice and he’s now progressing a successful career in accountancy at Alexander Knight & Co.
What you’ll get if you join us as an Apprentice Accountant:
Supportive, friendly and flexible working environment.
Grade A office in the heart of Hale village.
Regular training and career development.
Competitive salary + flexible benefits.
The successful candidate’s duties will be varied, and office/client based. Our clients are spread across the Greater Manchester and Cheshire area and in some instances the apprentice will be expected to travel to see clients independently.
Key responsibilities will include:
• General accounting and office duties – and checking and analysing client invoices
• Drafting financial statements
• Assisting with personal and business tax
• Credit control
• Updating and creating spread sheets and using computerised accounting software
• Basic costing duties
Desired skills
• High level of numeracy and literacy essential
• Computer literate with experience of Microsoft Word, Excel and PowerPoint, plus excellent keyboard skills
• Accurate and analytical approach, paying attention to detail
• Strong communication and organisational skills, plus effective time management and attention to detail
Personal qualities
• Must be professional with a smart appearance • Punctual, hardworking and keen to learn and progress within a professional environment • Enthusiastic, self-motivated but conscientious and able to work both independently and as part of a team
Desired qualifications
The successful candidate must have achieved:
A minimum of 5 good GCSEs to include Maths & English (ideally at the highest level A/A* or 8/9)
A minimum of 2 A-levels (or equivalent)
plus
A degree (or equivalent for Level 7 of the Apprenticeship)
APPLY NOW TO BE AN APPRENTICE ACCOUNTANT AT ALEXANDER KNIGHT & CO.
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New furlough scheme aimed at firms ‘forced to shut’ due to local lockdown measures.
Chancellor Rishi Sunak today unveiled the expansion of the Job Support Scheme, which is a successor to the furlough scheme.
The government says it will pay employees who cannot work 67% of their salaries, up to £2,100 a month. The scheme will come into force on 1 November and run for six months before being reviewed. Employees must be off work for a minimum of seven days to be eligible.
We are closely examining the details of this scheme as they emerge over the next few days to see what it means for your business.
We understand that this scheme will only apply to businesses told to close – rather than those who choose to shut because of the impact of Covid restrictions.
Until November businesses that are asked to close can continue to use the furlough scheme.
It is important that if you are making claims under the new scheme you calculate the amount you can claim accurately. If you need support to make your claim – email Murray Patt now.
We are awaiting further details of this particular scheme to see of this applies to all our clients.
New support measures announced for company directors by the Government.
A series of new measures were announced today by Rishi Sunak, the Chancellor, aimed at providing businesses more support during the ‘long winter’ ahead. We are currently analysing what these new measures mean for all our clients and as more details emerges we will update you on what it means for your business.
More time to repay loans
These measures are helpful to the firms who have managed to trade through the crisis so far but were getting increasingly worried about repaying the fresh debt taken on in the form of Government support.
Entrepreneurs who took out bounceback loans or CBILS will welcome the increasing flexibility of repayments. The ability to reduce the monthly payments by spreading it across a further four years (up from six years) will certainly help the cashflow situation of many SME’s.
Further VAT deferrals
Many SME’s deferred their VAT bill and the opportunity to spread the repayment of this (due in March 2021) throughout next year will be snapped up by many business owners who should be planning to focus on cashflow during the winter months as the furlough scheme dries up.
New ‘Job Support Scheme’
Unfortunately, the new Job Support Scheme, which we are dubbing the “little brother of furlough”, is merely marginal support for companies who are still trading. Firms who have not been trading during the past few months will find no solace in this scheme and stand to gain very little. Put simply it looks like this:
It is important that if you are making claims under the new scheme you calculate the amount you can claim accurately. If you need support to make your claim – email MurrayPatt now.
And finally…
Around 11 million self-assessment taxpayers will be able to benefit from a separate additional 12-month extension from HMRC on the “Time to Pay” self-service facility, meaning payments deferred from July 2020, and those due in January 2021, will now not need to be paid until January 2022.
We are awaiting further details of this particular scheme to see of this applies to all our clients.
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We are proud supporters of our local community. That’s why we’ve now confirmed a new sponsorship arrangement with our leading local media publication, Altrincham Today. If you live in Altrincham, Hale, Bowdon, Hale Barns and Timperley – you’ll be seeing us frequently during the remainder of 2021 and into 2022.
Here’s a sneak preview of our Winter 2021 campaign:
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Many people have used the opportunity of lockdown or redundancy to start a new business during the past few months.
If you’re thinking of setting up a business, you’ll probably be looking forward to doing things your way without pressure from managers and directors trying to get you to do things which make no sense.
Being in charge of your own destiny – even in these challenging times – can be thrilling and rewarding for people with an entrepreneurial mindset and the right accountant.
Rushing into starting a new business can be tempting – it can’t be that hard, can it? Yes, of course it is possible to start straight away with no planning or thought – however, the most successful businesses are those that have considered the detail of what they need to set-up.
That’s where we come in. After all, we were a start-up once! That means we understand what you’re going through.
Once you’ve decided on the finance you need and the premises you’ll be working from it’s a good idea to think about business structure.
Predominantly, business owners tend to set themselves up as a sole trader or limited company. It’s important you make this decision with our help as it can affect your take home pay after tax.
Our team will assist you with:
Company registration with Companies House
Structure of company and shareholders
Registration with HMRC
Tax planning
VAT registration
Payroll and drawing money out from your new business
Cloud accounting and invoicing
Contact us on (0161) 980 8788 if you are starting or just about to start a new business venture.
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