Strength in Numbers Summer 2021

Welcome to the latest issue of Strength in Numbers, our regular newsletter that is packed with informative articles and timely news which we hope will be of use to you.

Covid-19 has changed the way businesses operate across the globe and its impact will be felt well into the future but for now, businesses are taking their first steps in reopening. Throughout the pandemic we have been helping businesses and individuals with the challenges they faced and now we are helping them with their post-Covid recovery and to find opportunities to strengthen and grow.

Many businesses continue to face significant cash flow pressures due to ongoing issues surrounding the pandemic. In this issue we focus on managing cash flow along with recovery, restructuring, business support, transitioning and adopting new processes to strengthen your business.

Tax directors Phil Hartley and Aaron Phillips have written a series of informative articles on recent developments in tax, including Super Deduction, how R&D tax relief can assist recovery and growth, the temporary extension to trading loss carry back rules and HMRC debt collection as we emerge from the pandemic. In addition, VAT partner Alison Birch comments on the recent EU VAT changes and what they mean for UK businesses.

Also in this edition…

Alongside tax, our other specialist services have also contributed articles to this edition:

• Partner Mike Buxton has written about the challenges facing the construction sector as well as an interesting piece about the surge in business start-ups because of the pandemic
• Partner Adam McGowan comments on improving productivity using cloud software
• Partner Jeremy Oddie and associate Julie Webster from our corporate recovery and insolvency team discuss surviving the pandemic and the options and support available for struggling businesses
• Louise Casey, head of audit, writes about navigating audit in 2021
• Mike Wall, chartered insurance practitioner, and Richard Penn, chartered financial planner, from our wealth management team discuss business and personal financial planning, and
• Richard Gorst, director of insurance, has produced a guide to the different types of business insurance SMEs need to ensure they are protected against unforeseen risk.

You can also read about what’s been happening at Mitchell Charlesworth, including recent promotions, new appointments and R&D tax credits activity.

We hope you find the articles in this issue interesting and of practical use. If you would like to discuss any of the items in this newsletter or need advice on general financial, taxation and business matters, please contact your local Mitchell Charlesworth office.

Written August 2021.