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Knill James News and Blog

Keep up to date with the latest news from Knill James from dedicated articles on our specialist services and sectors to updates about the firm, our people and their achievements.

At Knill James we strongly support our local community and are involved with many sport clubs and charities within the South East area. In this section we’ll update you on the work we do within the community and show how we support various groups, charities and societies. As a training practice we’re also proud to share and celebrate exam success within our teams; as we train and develop our trainees to achieve their qualifications.

Demystifying furlough: a handy guide to help SMEs

Over recent months the government has announced a number of changes to the Coronavirus Job Retention Scheme – more commonly known as ‘furlough’. The scheme itself and the changes taking place each month can be confusing, so we have created a guide to answer the most frequently-asked questions.

SME Outlook Tracker Poll – Your expectations for the next 12 months

We are now five months on from the start of the Covid-19 triggered lockdown. The impact of the various measures introduced in this time have affected us all and vary from business to business and across sectors.

Coronavirus Business Interruption Loan Scheme extended

The British Business Bank has announced that the Coronavirus Business Interruption Loan Scheme (CBILS) will be extended for lenders by two months to 30 November 2020. So far, applications still have to be submitted to lenders by businesses by 30 September, although there are many campaigning for this also to be extended.

SEISS second grant applications open today

Applications for the second Self-Employment Income Support Scheme (SEISS) grant are now open. If your business has been adversely affected by Covid-19 on or after 14 July 2020 and you meet the other eligibility criteria then you can make a claim.

Keeping it all in check: how to reduce the stress of cash flow uncertainty

Many businesses have deferred some VAT or other taxes over the last few months. This took the pressure off for a period, but the current VAT and tax deadlines still keep coming. We want to help you to get organised and ensure you have considered how you will meet these due dates.

Why buy? The reasons we should be thinking about acquisitions now

Many businesses have had a difficult time over for the past few months, but Catherine Lambeth, Corporate Finance Executive, highlights potential opportunities and suggests that now could actually be the perfect time to expand and make an acquisition.

VAT saving for the hospitality sector

The Chancellor Rishi Sunak has announced a cut in the VAT rate from 20% to 5% for supplies by the hospitality sector (excluding alcohol sales), effective from 15 July 2020. This is relevant to most tourism and hospitality-related activities, and the Chancellor specifically mentioned food (eat in and take away), accommodation (hotels, B&B’s and campsites) and attractions (zoos and theme parks).

A recent poll undertaken by Knill James shows that 86% of SMEs feel their business will survive the current crisis

According to the latest poll of SMEs conducted by Knill James in conjunction with the UK200Group, 13% of SMEs are concerned they cannot survive the current crisis but 48% believe they will, although they have ‘written off’ this year.

How to transition from lockdown to profitable business as safely and smoothly as possible

By Chris Ketley, Business Advisory Partner

Businesses need Longer-term Support to Survive Release of Lockdown

David Martin of Knill James based in Lewes is calling on the Chancellor to consider a further overhaul of the CBILS scheme, or to supplement this with other grants to support the working capital needs of the country’s SMEs as he announces that the furlough scheme is to be gradually withdrawn.

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