During Coronavirus COVID-19 we remain open and are here to support you. See further information below under "news". A reminder, at present, anyone wishing to visit our premises must contact us beforehand.
Hollis Accounting Limited is a small firm of Chartered Accountants and we celebrated our 10th anniversary in 2019! We specialise in providing services to individuals; small and medium sized businesses as well as charities and not for profit organisations.
Our founder, Sarah Hollis, is a trained Chartered Accountant and member of the Institute of Chartered Accountants of Scotland.
Suzanne Graham joined the team in summer 2010 and is a Chartered Certified Accountant. Suzanne became a partner in 2016.
In July 2012 Anne-Marie MacLellan joined the firm and she is a member of the Association of Taxation Technicians. Margaret Leeming joined us in March 2015 and has now qualified as a Chartered Accountant having done her training with us.
Our clients are very important to us and we aim to ensure that all clients can be confident that their financial affairs are in good hands. As part of the service, a full scoping meeting is held to ensure we understand the needs of our clients and can tailor our services to their requirements.
This initial scoping meeting is free of charge so why don't you contact us to arrange one for yourself.
To find out more about the scope of services we can provide go to our 'services' page.
fast to respond
our team benefits from a number of years experience with a
background working within medium and large accounting firms,
we will bring this expertise and
quality of service to you
at a reasonable cost.
COVID-19 CORONAVIRUS - WE REMAIN OPEN
Our office remains open. However, based on government advice, we request no visitors to the premises - if you do arrange a visit you will be asked to wear a facemask (following Scottish Government guidance effective 19/10/20) and complete a Covid-19 visitor self-declaration form before your arrival (full details on our 'contact' page). Our staff are working on a rota basis between home & office. Therefore, although we plan to have staff in as usual 9am-5pm weekdays the telephone may go to voicemail particularly over lunchtime and at the start & end of the work day.
Contacting us via email or telephone will be the best option.
This virus is having a major impact on businesses and organisations across sectors & we want to reassure clients that we remain open to provide support.
OVERVIEW OF FUNDING AVAILABLE TO BUSINESS:
The Scottish Government have set up a COVID-19 business help line which is 0300 303 0660 (open Monday to Friday 8.30am to 5.30pm).
Also you may find the Scottish Government hub detailing support available useful:
Coronavirus Job Retention Scheme (CJRS) to help pay employees (cover 80% of furloughed employees' pay, up to £2.5k per month) and the HMRC grant claim portal opened on April 20th:
The last day a employee could go on furlough for the 1st time was 10th of June. Employers had until 31 July to make any claims in respect of period to 30 June. From 1 July employers can bring furloughed worked back on part time basis if approprite. From 1 August the level of government grant provided will be slowly tapered and will close on 31 October 2020, with final claims to be made by 30 November 2020.
Coronavirus Job Support Scheme was announced on 24/9/20 as successor to Job Retention Scheme running for 6 months from 1/11/20. To be eligible employees must work a minimum of 33% of their normal hours and of the remaining hours not worked the government and employer each pay 1/3 each. So employees working 33% of their hours will receive at least 77% of their pay (employer paying 55% & government paying 22%). Full details to be announced in due course but is potentially available to firms who were not eligible or did not utilise CJRS. Businesses who are eligible for CJRS bonus will still be able to claim it even if they utilise the Job Support Scheme (JSS). The JSS has been expanded to cover firms whose premises are legally required to shut for some period over the winter as part of local or national restrictions so that wages of staff who cannot work will be partly covered via a grant. The Government will support eligible businesses by paying two thirds of each employees' salary (or 67%), up to a maximum of £2,100 a month.
HMRC have set up a dedicated telephone number for businesses struggling to pay their taxes due to Coronavirus - HMRC time to pay hotline: 0800 0159 559. It has also been announced that VAT payments can be deferred until 31/3/21 which will apply from 20/3/20 to 30/6/20 (if you pay by direct debit you need to cancel it to utilise deferral) i.e. Feb, Mar & Apr VAT returns. Chancellor announced on 24/9/20 that the VAT payment deferred can be spread over 11 smaller repayments with no interest rather than being paid as a lump sum at the end of March 2021.
The VAT rate cut for tourism & hospitality to 5% has been extended until 31 March 2021.
Those who are self employed can defer their July 2020 payment on account for income tax self-assessment to 31/1/21. Chancellor announced on 24/9/20 self-assessed income taxpayers can extend their outstanding tax bill over 12 months from January 2021.
Also a grant to support the self-employed has been released by the Chancellor. HMRC are contacted taxpayers direclty in May who they view to be potentially eligible for this support and invited taxpayers to apply (first claim must be made by 13 July 2020):
The scheme has been extended and a second & final grant (worth 70% of your average 3 month profits, capped at £6,750) will be made in August 2020.
A further extension was announced by Chancellor on 24/9/20 indicating the existing scheme for self-employed will extend to 30/4/20 on 'similar terms' to the Job Support Scheme - again details to be announced.
Applications for grants for small businesses with premises (please note: self catering premises have specific eligibility requirements & it has been expanded to cover charitable exemption) via your local authorities (in Scotland) has now closed to new applications: https://www.mygov.scot/non-domestic-rates-coronavirus/
Also rates relief available for retail, hospitality & leisure sectors from 1/4/20 with rateable value less than £69k. Reversal of all planned inflation uplift in business rates from 1/4/20.
Please note these links/details refer to Scotland as business rates is a devolved matter.
As a consequence of a number of small businesses 'falling through the gaps' of the initial support a further "second phase" of funding has been announced by Scottsh Government which opened at the end of April "A further £100 million fund is also being made available to protect self-employed people and viable micro and SME businesses in distress due to COVID-19. " This second phase was in three parts:
OSCR has announced the launch of Third Sector Resilience Fund (TRSF) which is now open to applications - grants & 0% loans potentially available, see below link:
Also Charities SORP committee guidance on the financial reporting issues around COVID-19: https://www.charitysorp.org/media/648486/sorp-covid-19.pdf
With a focus towards the creative sector which we assisting in collating:
Further details of the measurers introduced by the Chancellor:
CAPITAL GAINS TAX (CGT) CHANGES (proposed from 6 April 2020)
HMRC are proposing several changes to Capital Gains Tax (CGT) regime, specifically in relation to properties, from 6 April 2020, which include:
To find out more please click here to go to the Capital Gains Tax section of our services pages.
MAKING TAX DIGITAL (MTD)
Making Tax Digital came in for VAT registered businesses from 1 April 2019. If we currently prepare your VAT return we made sure you complied and if we don't currently prepare your return and you'd like help with MTD please contact us.
As always any queries feel free to get in touch - a bit more information can be found on our 'other services' page.
If you currently prepare & submit your VAT return yourself online (from spreadsheets or equivalent) we can provide a service where we can submit the VAT return box figures you've prepared in excel to HMRC using our bridging software, please get in touch for a quote as HMRC's "soft landing" period for MTD ends in 2021 (the soft landing period has been extended for a year as a consequence of Covid-19).
OFFICE MEETING ROOMS
At end of August 2018 we expanded our premises to the basement level as well as retaining our current ground floor rooms at 3 Melville Crescent. This means we now have 2 meeting rooms on the ground floor. If clients (or other organisations/individuals) are interested in hiring these rooms for a meeting /seminar or training course please get in touch.