News and Updates
Summary of help for the self employed
• Taxable grant of 80% of their average monthly profits of the last 3 years or shorter period if only a shorter period available up to £2,500 a month available for up to 3 months and possibly extended as required. • Available where trading profits are up to £50,000 •...
Companies to receive 3-month extension period to file accounts during COVID-19
From 25 March 2020 businesses will be given an additional 3 months to file accounts with Companies House to help companies avoid penalties as they deal with the impact of COVID-19. As part of the agreed measures, while companies will still have to apply for the...
Gov.UK Further Businesses and Premises to Close
More detailed guidance on the businesses and premises to close has been issued by the Government: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/874732/230320_-_Revised_guidance_note_-_finalVF.pdf
Upcoming changes in the law that your company needs to be aware of in 2020
Holiday pay reference period adjustment As of 6 April 2020, the holiday pay reference period will increase from 12 weeks to 52 weeks. This ensures workers in seasonal work or with abnormal working hours, receive the paid holiday to which they are entitled. Under the...
Support for businesses through the Coronavirus Job Retention Scheme
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis. All UK businesses are eligible. You will need...
Support for businesses through the Coronavirus Business Interruption Loan Scheme
A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will launch early next week to support primarily small and medium-sized businesses to access bank lending and overdrafts. The government will provide lenders with a...
Support for businesses that pay little or no business rates
The government will provide additional Small Business Grant Scheme funding for local authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBBR), rural rate relief (RRR) and tapered relief. This...
Support for retail, hospitality and leisure businesses that pay business rates
Business rates holiday for retail, hospitality and leisure businesses The Government will introduce a business rates holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year. You are eligible for the business rates holiday if:...
Support for businesses through deferring VAT and Income Tax payments
The Government have announced that they will defer VAT payments for 3 months and self employed income tax payments due in July 2020. These are automatic offers and no application will be required. For VAT, the deferral will apply from 20 March 2020 until 30 June 2020...
Latest on Government’s COVID-19 Emergency Funding
As the fallout from the Coronavirus pandemic continues, many businesses say they are teetering on the brink as revenues plunge following stay at home advice. Thankfully, emergency funding of £330 billion will be put aside from the Government’s financial support...