The Government has announced changes to the Bounce Back Loan Scheme (BBLS) available to small businesses in the UK that will give companies longer to repay what they have borrowed. Around 1.4 million small and medium-sized businesses have taken out a loan since they were introduced last year, amounting to around £45 billion of financial […]
Business owners put billions of pounds on the line to secure early CBILS loans, figures reveal
Business owners who took out an early coronavirus loan have more than £1.2 billion of personal guarantees on the line, a major study has revealed.
HMRC waives penalties for Self-Assessment returns filed by 28 February – but payment deadline remains
HM Revenue & Customs (HMRC) has announced that any Self-Assessment taxpayers who miss the 31 January 2021 tax return deadline will not receive late filing penalties if they file online by 28 February 2021, although the 31 January 2021 payment deadline remains. Taxpayers who do not pay any outstanding balance on their 2019-20 tax bill […]
Insurance industry to pay out on COVID-19 business interruption claims
More than 370,000 small businesses in England and Wales could be due a payout on their business interruption insurance after the Supreme Court ruled in favour of payments being made on previously refused claims and policies. A number of insurers have lost an appeal against an earlier ruling, brought in a test case by the […]
Are you making full use of the Government’s COVID-19 financial support package?
Download our latest guide to make sure you are taking advantage of the support on offer As we enter yet another national lockdown, businesses may be concerned about their ability to survive and succeed in the weeks and months ahead. The level of support on offer from the Government and local authorities is unprecedented via […]
Chancellor announces grants worth up to £9,000 for businesses in the retail, hospitality and leisure sectors
The Chancellor, Rishi Sunak, has announced a package of one-off grants worth between £4,000 and £9,000 for businesses in the retail, hospitality and leisure sectors, following the announcement of a nationwide lockdown in England lasting until at least mid-February. The new scheme will be accessed through local authorities and offers funding based on the rateable […]
Employers: call for furlough scheme to be introduced to working parents while schools are closed
The Trades Union Congress (TUC) states that working parents with children, who struggle to balance their work-life and childcare, should be put on the furlough scheme whilst the schools are closed.
The New COVID-19 Tier System
The rules around the various tiers continue to change. To help you understand what you can and cannot do under England’s tiered system, please use our helpful chart: Tier 1 – Medium Tier 2 – High Tier 3 – Very High Tier 4 – Stay at Home Socially mixing Indoors Permitted but rule of six […]
COVID-19: enhanced payment plans for Self-Assessment individuals
To help reduce any financial stresses as a result of the pandemic, HM Revenue & Customs (HMRC) has amended the instalment arrangements for paying tax liabilities for Self-Assessment taxpayers – increasing the threshold from £10,000 to £30,000.