Covid-19
Is your business ready for the ‘new normal’?
May 7th, 2020On 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 […]
READ MORE »Self-Employed Income Support Scheme (SEISS) launch date revealed
May 5th, 2020HMRC 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 […]
READ MORE »Bounceback Loan Scheme Goes Live and Additional Grants Available For Small Businesses
May 4th, 2020Bounce 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 […]
READ MORE »Good news for SMEs with additional loans boost
April 28th, 2020Yesterday 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 […]
READ MORE »This week in review: 20 – 24 April
April 24th, 2020CJRS: In general It’s been a busy week since HMRC opened its CJRS portal on Monday morning and we began making the first of our clients’ furlough claims. Overall, the portal seems to be coping with the sheer volume of claims being made nationally. Official figures state that as of close of business on Monday […]
READ MORE »At a time when cash flow is critical, have you considered R&D?
April 22nd, 2020The most common misconception about Research and Development (R&D) Tax Relief is that it’s only available to lab coat companies and software houses, but this couldn’t be further from the truth. R&D Tax Relief is available to all limited companies that seek to achieve an advance in science or technology in their industry. Things such […]
READ MORE »Self-Employment Income Support Scheme (SEISS) Grant Update
April 17th, 2020HMRC has issued an update on just how it intends to calculate your eligibility for the Self-Employment Income Support Scheme (SEISS) grant. Whilst the claim service is not yet available, HRMC aims to contact you by mid-May 2020 and make payment by early June 2020. It will be available for three months but may be […]
READ MORE »Coronavirus Job Retention Scheme (CJRS) Grant Claim Update
April 16th, 2020HMRC has now issued detailed guidance on how a business may make a Coronavirus Job Retention Scheme (CJRS) grant claim. The online claim service will be launched on GOV.UK on Monday 20 April 2020. HMRC has advised that you should not try to access the claim portal before this date as it will not be […]
READ MORE »Coronavirus Business Interruption Loan Scheme (CBILS): the view from the banks
April 9th, 2020With much confusion around the CBILS, we spoke with a trusted contact of ours from one of the leading high street banks to gather their insight and practical pointers. Here’s what we learnt: Lending decisions The starting point for a lender in terms of assessing whether to lend is the long-term viability of the business […]
READ MORE »COVID-19: Job Retention Scheme and guidance dealing with HMRC
April 8th, 2020Gradually, we are seeing further information and guidance being released by Government which is helping to answer our clients’ questions and provide more clarity and certainty around the raft of economic reliefs and financial support made available due to COVID-19. Coronavirus Job Retention Scheme (CJRS) The full details of CJRS can be found here: https://www.gov.uk/guidance/check-if-you-could-be-covered-by-the-coronavirus-job-retention-scheme […]
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Deadline for SEISS first grant is approa...
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