Depending on your definition of success, the Coronavirus Job Retention Scheme has certainly been a success with around eight million workers furloughed so far, nearly a million businesses using the scheme, and with costs totalling around £80bn. However the Chancellor is set to announce this week that the UK government will soon bar companies from […]
Covid-19 Business News Briefing
With so much being announced every day you could be forgiven for switching off due to information overload. So to assist you to navigate your way in these uncertain times, here is a summary of news we feel may be relevant to you and your business. Prime Minister Boris Johnson sets out a timeline for […]
Protect yourself from Coronavirus Scams
And where something as new and substantial as the government crisis support is created, the fraudsters and scammers are already exploiting opportunities to try and steal key financial information from business owners and individual taxpayers. Scammers are not on furlough – they are working full time on trying to fraudulently part individuals and business owners […]
Bounce Back Loan Scheme is Live
On the back of widespread concern about the lack of availability of loans under the Coronavirus Business Interruption Loan Scheme the government has introduced a new scheme aimed at smaller businesses. The loan scheme is now available via banks and here’s a summary of what we know so far… Key Features Apply for a loan […]
How will HMRC deal with ‘Furlough Fraud’?
The Government and HMRC are very concerned about fraudulent Coronavirus Job Retention Scheme claims, despite the rules and system having been designed to safeguard against this as far as possible. Simply because of the large sums being made available, the scheme is likely to attract criminal fraud, as well as abuse by some genuine employers […]
Government pledges £1bn to support startups
This morning the Chancellor announced a billion-pound rescue package for startups struggling to cope amid the coronavirus pandemic. This news will be welcomed by innovative, high-growth businesses across the UK. The UK government said that £750m of support for R&D intensive small and medium-size companies will be available through Innovate UK’s grants and loan scheme. […]
Business Bitesize: Business Prosperity In Chaos
Tax Year 2020/21 is here – your essential briefing
Here’s what you need to know going into the new tax year, viewed through the lens of the current crisis. During the recent upheaval, the days of the week and dates may have taken a backseat to more immediate concerns. We aim to support you looking forward to future plans and responsibilities. Self Assessment Your […]
Support for contractors and consultants
The Chancellor announced on Thursday 26 March 2020 the hotly anticipated grant scheme available to the self-employed and members of partnerships that will lose income due to coronavirus. Broadly the Self-employment Income Support Scheme (SEISS) will allow self-employed taxpayers to claim a taxable grant worth 80% of trading profits up to a maximum of £2,500 […]