Monthly Archives: June 2021

HMRC to go easy on small business strangled with Covid debt

Originally written by Timothy Adler on Small Business
Small businesses struggling with Covid debt will not be forced to pay overdue tax to HMRC immediately, says business secretary Kwasi Kwarteng.
HMRC had manoeuvred itself to be first in line to be payed-out should a small business go bust post-Covid. Being pressured into payment by tax collectors can be an extremely unpleasant experience for owner-directors of small businesses.
But Mr Kwarteng has told the Institute of Directors and business group R3, which represents insolvency and restructuring practitioners, that HMRC will go easy on small businesses unable to pay tax because of Covid-19 debt.
>See also: Small business owners who duck out of repaying Covid debt face ban
The government wants to avoid a tsunami of insolvencies this summer.
The news will come as a relief to small business owners, who already have enough to worry about with a stop-start reopening post-lockdown just as Covid-19 financial support such as Bounce Back Loans start having to be repaid.
Insolvency practitioners have warned that many small businesses will struggle to stay afloat from July when emergency Covid-19 financial support measures begin to be wound down.
In a letter, obtained by the Financial Times, Mr Kwarteng wrote that HMRC would be updating its

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Installing a smart meter: a step-by-step guide for your small business

Originally written by Dan Matthews on Small Business
Smart meters are a great way for households and businesses to monitor energy use and take control of their bills, potentially saving energy and money while reducing the impact of UK PLC on the planet.
To date, more than 24 million smart and advanced meters are operating in homes and businesses across the UK, with many business owners requesting smart meters every month.
Smart meters enable accurate billing — meaning, your business will only need to pay for the energy that it actually uses. This could help your business take control of your energy bills. Even better, smart meters send gas and electricity readings directly and securely to your supplier so you don’t have to – taking one item of your busy to-do list!
When it comes to installing a smart meter, you’ll first need to talk to your energy supplier and confirm the eligibility of your business. Once confirmed, you will follow the standard step-by-step installation process detailed below.
1. Ask your energy supplier or broker what’s on offer
To begin the process, there are two ports of call to make. First, speak to your landlord and ask whether they have plans to install smart meters in

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