Companies now have less than one month left to join the VAT Deferral New Payment Scheme. The deadline to join the scheme on 21 June has prompted HM Revenue & Customs (HMRC) to issue a fresh warning to businesses that haven’t already joined the scheme, that they face a five per cent penalty if they […]
Is your business ready for the changes to furlough?
Following the Government’s decision to extend the Coronavirus Job Retention Scheme (CJRS) earlier this year, businesses now have the opportunity to rely on this support until the end of September. Introduced more than a year ago, the furlough scheme (as it is more commonly known) has helped many businesses to retain talented employees without having […]
Insolvency Service to be given new powers to tackle directors who misused COVID loan schemes
Directors of dissolved companies who have benefited from the Government-backed Coronavirus loan schemes, who now do not intend to repay them, could find themselves facing tough sanctions. The Government has announced that the Insolvency Service will be given new powers to investigate directors of companies that have been dissolved to avoid the repayment of loans. […]
HMRC contacts self-employed individuals who could be eligible for fourth SEISS grant
HM Revenue & Customs (HMRC) is now contacting self-employed individuals who could be eligible for the fourth round of the Government’s Self-Employment Income Support Scheme (SEISS). The fourth round of the scheme covers the period from 1 February 2021 to 30 April 2021 and is worth 80 per cent of three months’ average trading profits, […]
Furlough scheme guidance updated
HM Revenue & Customs (HMRC) has published a series of updates to its guidance on the Coronavirus Job Retention Scheme (CJRS), more commonly known as the ‘furlough scheme’. The updates cover the changes to the scheme as it is extended from 1 May 2021 to 30 September 2021. The guidance confirms that new employees who […]
New claims needed to continue receiving working from home tax relief
Employees who are continuing to work from home as a result of the Coronavirus pandemic and whose expenses have not been reimbursed by their employers should make new claims to continue receiving working from home tax relief. This is because claims made in the 2020-21 tax year, which ended on 5 April 2021, will not […]
New Recovery Loan Scheme (RLS) opens as previous schemes end
Under the new Recovery Loan Scheme (RLS), British businesses can now apply for affordable loans of between £1,000 and £10 million. We at Davis Grant are here to provide you with everything you need to know about the initiative and how it could help your business recover from the coronavirus pandemic. What is the Recovery […]
Coronavirus Restart Grant
Businesses in the non-essential retail, hospitality, leisure, personal care and accommodation sectors can now access one-off cash grants of up to £18,000 from their local council. The Restart Grant scheme opened nationally on 1 April 2021 and is now being rolled out by local authorities across England. Eligible businesses will be paid: a one-off grant of up […]
The Coronavirus Business Interruption Loan Scheme is closing soon – Apply today!
The Coronavirus Business Interruption Loan Scheme (CBILS) is due to end on 31 March 2021, after which no further applications for the scheme can be made. CBILS allows businesses to apply for a loan of between £50,001 and £5 million up to 25 per cent of their annual turnover from lenders accredited the British Business […]