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With the Energy Bill Relief Scheme having just come to an end, there are calls for SMEs to be allowed to renegotiate their fixed energy prices from last year.

Tina McKenzie, Policy Chair of the Federation of Small Businesses (FSB), explained, “The cliff-edge we’ve been about warning for months is sadly here – tens of thousands of small firms are now at an existential risk as government energy support will largely downscale to a scheme that offers almost no help from tomorrow (Saturday 1st April).

“From cafes and pubs to salons and convenience stores, small firms that fixed their energy contracts last year will see their bills rise by three or even four-fold as prices revert back to high prices and to pre-Energy Bill Relief Scheme level.

“We found that 24% of small firms are trapped in fixed contracts, and of them, 28% say they could be forced to downsize, close or restructure their businesses. This equates to 370,000 small businesses, and not to mention the jobs and communities which depend upon them.”

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Tina added, “But there’s still time to cut the pain and pull these firms back from the cliff edge. By allowing small firms that are caught in fixed and high prices to renegotiate and ‘blend and extend’ their energy contracts will enable them to come out from the high fixed price with their energy suppliers and agree to a new fixed term contact that resembles the lower prices that we see at the moment.

“Added cost pressures can’t be easily absorbed by small firms which have little to no cash reserves, while customers can’t afford to have these price increases passed on in full.

“Giving small firms the option to blend and extend their fixed energy contracts could avoid unnecessary inflation. Let’s not forget these small businesses are the ones that pushed through Covid and the energy crisis in winter despite their very limited resources. These firms deserve a fighting chance this year.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £125 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few
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