Lightside Financial

21/12/2021

Hospitality Sector?

Chancellor announces funding primarily for hospitality and leisure sectors, as Covid surge affects trade.

Grants for hospitality and leisure businesses in England, worth up to £6,000 per premise. The Treasury has set aside £683m for these payments, which will be administered through local authorities and will be available in the coming weeks.

Further grants for businesses in England, worth £102m, intended to help businesss most in need, and again administered through local authorities.

The resumption of the statutory sick pay rebate scheme, which will reimburse employers in the UK with fewer than 250 workers for the cost of paying statutory sick pay for Covid-related absences for up to two weeks.

** More information will be a viable from local authorities shortly **

*information from credit The Guardian

11/08/2021

Wow! Lightside Financial this evening has been awarded;

*Best Debt Advisory Firm 2021 - South West*

At the Southern Enterprise Awards hosted by SME News. Team work makes the dream work.

Details-

Despite the incredible hardships over the last two years, the south has continued to lead the way for SME's all over the country. More than ever we believe the incredible dedication by tireless owners to adapt and overcome should be recognised.

Therefore, I am excited to be able to share the final results from our panel of judges and I am delighted to say it's great news! *Lightside Financial* has been awarded;

*Best Debt Advisory Firm 2021 - South West*

Get debt advice to resolve debt problems from Lightside's professional UK debt advisors, with offices in London, Bristol, South Wales & Devon

10/05/2021

When dealing with financial pressure, we know it impacts upon so many aspects of life. This week is mental health awareness week, and we are sharing the nuggets of information produced by Shaileen Shah's Happy Life Habits.

04/05/2021

Today ‘Breathing Space’ will give those facing financial difficulties space to receive debt advice, or mental health crisis treatment, without pressure from creditors.

People will be given legal protections from their creditors for 60 days, with most interest and penalty charges frozen, and enforcement action halted.

And recognising the link between problem debt and mental health issues, these protections will be available for people in mental health crisis treatment – for the full duration of their crisis treatment plus another 30 days.

People across England and Wales who are struggling to repay their debts could be eligible.

Most unsecured debts are included as well as some business related debts.

Read more: https://www.gov.uk/government/news/new-scheme-to-give-people-in-problem-debt-breathing-space-launched

05/01/2021

We can't miss the big news of a National Lockdown in England announced by the PM on 4th Jan 2021. However this time there is light at the end of the tunnel; we know more about the virus, vaccines are ready and rollout has commenced and new hospital facilities are ready thereby increasing capacity. How do you feel this time around?

For businesses, the key thing is, can you get through the next few months in a lockdown? Customers haven't gone away forever, but they may not be around for Q1 2021. How do you feel about your business?

If you think the writing is on the wall for your business and you want expert advice, an agent to act on your behalf when dealing with creditors (think Funding Circle, Capital on Tap, Boost, Lloyds, Barclays NatWest), HMRC, Insolvency Practitioners, Trustees, Administrators etc we are on hand to provide support every step of the way. There is light at the end of the tunnel for you too, with Lightside.

05/01/2021

Chancellor announces one-off top up grants for retail, hospitality and leisure businesses worth up to £9,000 per property to help businesses through to the Spring.

£594 million discretionary fund also made available to support other impacted businesses.

Both grants will be accessible through your local authority.

*the one-off top-ups will be granted to closed businesses as follows:*

-£4,000 for businesses with a rateable value of £15,000 or under
-£6,000 for businesses with a rateable value between £15,000 and £51,000
-£9,000 for businesses with a rateable value of over £51,000

More details-

https://www.gov.uk/government/news/46-billion-in-new-lockdown-grants-to-support-businesses-and-protect-jobs?fbclid=IwAR2Rk4JaimJ_6WxF1nooBbAbMEH3qxZXuPnC9CkU5_1SBmJH7YMXc4MYXGo

24/12/2020

Best wishes for the festive season

17/12/2020

Furlough extended until the end of April 2021 and loan schemes (Bounce Back and CBILS) until March 30th 2021.

Government will continue to pay 80% towards wages of unworked hours - giving businesses and employees across the UK certainty into the New Year.

Certainty for millions of jobs and businesses as furlough scheme extended until the end of April 2021.

08/12/2020

We're a diverse team of religions and culture, but at this time of year a Christmas tree, and lights just lifts the mood. This is at our (not so) new offices, next door to The Bentley Road Baker (we can personally recommend their cakes and pastries).

Let's get the festive spirit on. Have you put up your decorations?

01/12/2020

HM Revenue & Customs becomes a ‘preferential creditor’ today. Does it matter?

Yes – it could really impact directors. If you have given the bank personal guarantees (PG) / debentures and your business shuts down, it could really matter.

Until today, HMRC ranked as any other creditor. The change is that taxes collected and held by the business on behalf of other tax payers – VAT, PAYE, Income Tax – will be treated preferentially.

Usually, after fees, debentures holders get the lion's share, which would therefore reduce the amount owed under a PG. Now HMRC could be taking a higher portion of that money, which results in a shortfall to the bank which directors have personally guaranteed. This could be a MAJOR concern.

As always, everyone’s circumstances vary. Just reach out and contact us for specific advice.

26/11/2020

Winter has arrived. Beautiful scenery this morning at our offices at Bourton Barns.