Latest News

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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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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This week in review: 20 – 24 April

April 24th, 2020

CJRS: 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 […]

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Gymnastics deal is no stretch for Champion Accountants

April 23rd, 2020

The Blackpool office of Champion Accountants has advised on the acquisition of acclaimed gymnastic-wear manufacturer Milano Pro Sport by Manchester’s Signature Fabrics. The undisclosed deal sees 90 per cent of Preston-based Milano Pro Sports’ shares sold. Founders Paul and Lesley Pendergest – who cut their teeth as MD with Betterware Gp. and head of swimwear […]

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At a time when cash flow is critical, have you considered R&D?

April 22nd, 2020

The 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 […]

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