Yearly Archives: 2020

Changes to the Coronavirus Job Retention Scheme (CJRS) and the Self Employment Income Support Scheme (SEISS)

June 1st, 2020

Friday [29 May 2020] saw the Chancellor clarify the expected changes to the Furlough scheme, introduced at the beginning of the COVID-19 crisis and also announce a welcome extension to the Self-Employment Income Support Scheme (“SEISS”). Coronavirus Job Retention Scheme (“CJRS”) Full details can be found at https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme The furlough scheme will finish at the […]

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Should you consider ‘pivoting your business’ to develop new opportunities?

May 15th, 2020

You know how terms, expressions and phrases can catch on when they are used repeatedly by those in the Media? During this exceptional time of COVID-19, there seems to be a plethora of expressions being used to cover everything from medical matters through to economic conditions. We have recently seen one such expression gain traction […]

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Four Month Extension to the Furlough Scheme

May 14th, 2020

On Tuesday [12 May] the Chancellor announced that the “furlough scheme” – more formerly referred to as the Coronavirus Job Retention Scheme (CJRS) – would be extended for a further four months until the end of October 2020. Before this announcement, the scheme was due to run until 30 June, having already been extended from […]

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SEISS portal opens for claims

The Self-Employment Income Support Scheme (SEISS) portal is now open and we at Champion have already assisted a number of our clients with the claims process, which thankfully, is fairly straightforward. To make a claim, you will need your: Self Assessment UTR National Insurance number Government Gateway user ID and password Bank details – account […]

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Is your business ready for the ‘new normal’?

May 7th, 2020

On Sunday we are expecting to hear from the Prime Minister about what steps are to be introduced to allow lockdown to be eased and for some “normality” to return to our lives. As we contemplate what the economy might look like when we can begin a return to work, we have set out an […]

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Self-Employed Income Support Scheme (SEISS) launch date revealed

May 5th, 2020

HMRC has issued guidance on how SEISS is meant to work from 13 May onwards, which is available at: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#claim It is worth taking a look at the guidance to take comfort that you will be able to qualify, however, the following summary might help you in the interim. You can claim if you are a self-employed individual […]

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Bounceback Loan Scheme Goes Live and Additional Grants Available For Small Businesses

May 4th, 2020

Bounce Back Loan scheme goes live Last week we highlighted the new Bounce Back Loans introduced by the Chancellor which will enable small and medium-sized businesses to borrow between £2,000 and £50,000, and as of this morning [4 May], the scheme went live. The full guidance, including details on how to apply, is available on […]

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Champion Accountants reaches £34m R&D Tax Relief milestone

April 29th, 2020

A leading accountancy group is encouraging businesses to pursue Research & Development (R&D) during the COVID-19 outbreak, as it celebrates securing £34m in R&D Tax Relief claims for its clients. The Government’s R&D Tax Relief scheme is still hugely underutilised, but successful claims continue to be paid amidst the Coronavirus outbreak. As such, we at […]

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HMRC extends ‘soft landing’ period for Making Tax Digital

The introduction of Making Tax Digital may seem like a distant memory, but the beginning of April 2020 was set to mark the end of HMRC’s soft landing period, which had provided a ‘light touch’ to non-compliance with the new rules. Yet due to the present-day pressures facing businesses during the Coronavirus pandemic, HMRC has […]

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Good news for SMEs with additional loans boost

April 28th, 2020

Yesterday morning [Monday 27 April] saw the Chancellor announce a Bounce Back Loans scheme for SMEs. This will enable such businesses to benefit from a new fast-track finance initiative that will provide loans with a 100% Government-backed guarantee for lenders. HMRC’s official guidance can be found here, albeit with limited detail: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan. The scheme will […]

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Changes to the Coronavirus Job Retention...

June 1st 2020

Friday [29 May 2020] saw the Chancellor clarify the expected changes to the Furlough scheme, introdu...

Should you consider 'pivoting your busin...

May 15th 2020

You know how terms, expressions and phrases can catch on when they are used repeatedly by those in t...

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