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Tax and Accountancy Clinic support during Covid-19

Many local SMEs have been directly hit by the Covid-19 pandemic which has resulted in their outright closure or a significant reduction in their installed capacity, thereby having a negative effect on their income generation ability in the short term, and survival in the long term. 

However, local businesses can boost their income in the short run, and their survival in the long run if they get professional advice, or access the UK government’s business and self-employed support such as: 

  • Applying for the Coronavirus business interruption loan scheme
  • Claims under the Coronavirus job retention scheme
  • Deferment of VAT payments
  • Financial support for charities
  • Cash grants of up to £25,000 to retail, hospitality and leisure businesses in smaller premises with rateable value below £51,000
  • £3,000 cash grant to 700,000 small businesses (Small Business Rate Relief) to a £10,000 cash grant
  • Small Business Grant Scheme funding for local authorities to support small businesses that already pay little or no business rates due to the Small Business Rate Relief (SBRR)
  • Accessing Coronavirus support from business representatives, organisations and trade associations 

Tax and Accountancy Clinic online service

We are temporarily closing our physical Tax and Accountancy Clinic as a precautionary measure in light of the ongoing Coronavirus (COVID-19) outbreak and moving services online. We will offer replacement sessions for those sessions that have been cancelled as soon as it is possible to do so.

Accessing online services

If you would like to access the Tax and Accountancy Clinic online service, there is a three-stage process:

Stage 1: please complete a very simple online form (see above), with your contact details, your business form and the description of the type of support that you are seeking.

Stage 2: we will then phone you to confirm if we are able to assist you. We will go through our standard terms of engagement and explain how the Tax and Accountancy Clinic Online service operates. If you are happy to proceed, we will then talk to you for around 30 minutes about your issue.

Stage 3: we will send out a letter of advice to you within two weeks of the call.

If you have any other additional enquiries, please contact us by completing our online form or emailing taxclinic@uel.ac.uk.

About the UEL Tax and Accountancy Clinic

The UEL Tax and Accountancy Clinic will provide SMEs, local businesses and the local community with practical training in annual accounts preparation and tax services. With regards to accountancy Services, the Clinic will network with practitioners, employers, academics and professional accounting bodies to provide the following services to SMEs and local businesses:

Accountancy Services:
  • Provide accountancy services which will help students to gain practical experience.
  • Prepare year-end accounts to help SMEs and local businesses to complete their self-assessment tax returns.
  • Produce financial statements and abbreviated accounts to file at Companies House to ensure that the minimum amount of SMEs and local businesses financial information is made public.
  • Ensure that SMEs and local businesses accounts are prepared in accordance with timescales and deadline.
  • Support and help SMEs and local businesses to understand what is going on financially within their businesses, helping them to plan for the future.

Tax Services:

The Clinic will also provide the following tax services to SMEs and local businesses.

  • Provide SMEs and local businesses with advice needed to financially plan their tax in the most efficient way possible.
  • Provide tax advice on registration with HMRC and tax return submission.
  • Provide SMEs and local businesses advice on self-assessment and tax return.
  • Provide SMEs and local businesses advice on preparing income and expenditure accounts.
  • Provide SMEs and local businesses advice on preparing corporation tax to ensure that they pay the most efficient tax amount to the government through effective and efficient tax planning.
  • Provide SMEs and local businesses advice on preparing VAT returns
  • Provide SMEs and local businesses in construction industry advice on preparing CIS tax return and tax refund
  • Provide SMEs and local businesses with personal tax planning services in the most tax-efficient manner possible.

     

Practical Module

The Tax Clinic is a mostly student led practical module supervised by professionals in the field to provide them with the necessary experiences for the job.

Director and supervisors

The Director and Supervisors are responsible for matters such as professional services, training, development and administration. The Tax and Accountancy Clinic also has an Advisory Group consisting of members of the Royal Docks School of Business and Law.

  • Co-Directors: Dr Emmanuel Ambe and Dr Hammad Hussain
  • Dr Shampa Roy-Mukherjee: Director of Impact and Innovation
  • Key Support: Dr Eric Boahen