As restrictions are further lifted, employees return to offices and order books start to hopefully recover, it’s worth bearing in mind that there is still government help available for businesses looking to grow once again in 2022.
Help to Grow: Digital was launched by the Chancellor last year, as part of the Plan for Jobs initiative, helping businesses to recover from the impact of the pandemic, by adopting digital technology.
The support is available in two parts:
- Free, impartial advice and guidance about what digital technology is best suited to your business
- Financial support to eligible businesses, worth up to £5,000 towards approved digital technology
The Help to Grow: Digital website provides lots of detail on the best digital tech options for your business, advice to help you make decisions about what software products meet your needs and how you can incorporate these into your business.
Discounts worth up to £5,000 are also available to help you buy the right productivity software for your business. The discounts will cover up to 50% of the software cost (for the first 12 months) and are available to help you purchase CRM and accountancy software.
Accountancy software featured in the scheme, includes: Sage Business Cloud Accounting (Start / Plus / Standard) and QuickBooks Online (Simple Start / Essentials / Plus).
Digital accountancy software will be essential for all businesses, as we make the final transition to Making Tax Digital for VAT in April 2022 and Making Tax Digital for Income Tax in April 2024, changing the way of reporting data to HMRC.
Eligible business for Help to Grow: Digital must be:
- UK registered
- Actively trading for at least 12 months prior to the date of application
- Between 5 and 249 employees
- Purchasing the approved software for the first time
Inspire is an award-winning business and tax advisory firm, here to help business owners on their journey through both challenging and successful times. www.inspireaccountants.co.uk.