Latest News

Gymnastics deal is no stretch for Champion Accountants

April 23rd, 2020

The Blackpool office of Champion Accountants has advised on the acquisition of acclaimed gymnastic-wear manufacturer Milano Pro Sport by Manchester’s Signature Fabrics. The undisclosed deal sees 90 per cent of Preston-based Milano Pro Sports’ shares sold. Founders Paul and Lesley Pendergest – who cut their teeth as MD with Betterware Gp. and head of swimwear […]

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At a time when cash flow is critical, have you considered R&D?

April 22nd, 2020

The most common misconception about Research and Development (R&D) Tax Relief is that it’s only available to lab coat companies and software houses, but this couldn’t be further from the truth. R&D Tax Relief is available to all limited companies that seek to achieve an advance in science or technology in their industry. Things such […]

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Self-Employment Income Support Scheme (SEISS) Grant Update

April 17th, 2020

HMRC has issued an update on just how it intends to calculate your eligibility for the Self-Employment Income Support Scheme (SEISS) grant. Whilst the claim service is not yet available, HRMC aims to contact you by mid-May 2020 and make payment by early June 2020. It will be available for three months but may be […]

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Coronavirus Job Retention Scheme (CJRS) Grant Claim Update

April 16th, 2020

HMRC has now issued detailed guidance on how a business may make a Coronavirus Job Retention Scheme (CJRS) grant claim. The online claim service will be launched on GOV.UK on Monday 20 April 2020. HMRC has advised that you should not try to access the claim portal before this date as it will not be […]

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Coronavirus Business Interruption Loan Scheme (CBILS): the view from the banks

April 9th, 2020

With much confusion around the CBILS, we spoke with a trusted contact of ours from one of the leading high street banks to gather their insight and practical pointers. Here’s what we learnt: Lending decisions The starting point for a lender in terms of assessing whether to lend is the long-term viability of the business […]

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COVID-19: Job Retention Scheme and guidance dealing with HMRC

April 8th, 2020

Gradually, we are seeing further information and guidance being released by Government which is helping to answer our clients’ questions and provide more clarity and certainty around the raft of economic reliefs and financial support made available due to COVID-19. Coronavirus Job Retention Scheme (CJRS) The full details of CJRS can be found here: https://www.gov.uk/guidance/check-if-you-could-be-covered-by-the-coronavirus-job-retention-scheme […]

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Tax relief for Limited company landowners / property developers

April 7th, 2020

Cash is king during a global pandemic like COVID-19. Taking the world by complete surprise and having a dramatic impact on many businesses, it has made many owners realise just how important positive cash flow can be and work to find new ways to mitigate risk to their working capital and ensure business continuity. With […]

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Further updates on Business Funding Options

April 3rd, 2020

Emergency Loan Schemes Following on from our ‘Preparing for Business Funding’ update earlier this week, the Chancellor has today announced further assistance to those wishing to seek additional finance under the Government’s Emergency Loan Schemes. Following widespread reporting that the Coronavirus Business Interruption Loan Scheme (CBILS) was proving too onerous and wasn’t reaching SMEs, the Chancellor […]

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COVID-19: Small Business Grant Scheme funding

April 2nd, 2020

Small Business Grant Scheme funding We’ve already touched upon the support available for those organisations which pay little to no business rates, and the start of a new month brings with it the arrival of further updates. Local authorities have begun issuing letters to those eligible for funding under the Small Business Grant Scheme, which […]

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COVID-19: Preparing for Business Funding and Furloughing Employee Templates

April 1st, 2020

Preparing for Business Funding Over the last 10 days, Champion has helped a number of clients across the Group prepare funding applications for their businesses, which has spanned overdrafts, invoice discounting facilities, asset finance and term loans. There is a common theme to the type of information that funders are requesting. As a guide, the […]

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