Wilder Coe Webinar: COVID-19 Business Rescue

On Thursday 9 April, we hosted a webinar covering the UK government’s business rescue measures and its implications for businesses. Bee-Lean Chew hosted Robert Bradman, Tim Cook and Mark Saunders to discuss the following topics: Coronavirus Job Retention Scheme Self-employment Income Support Scheme Deferring VAT and Income Tax Payments UK Residence Issues Coronavirus Business Interruption Loan Scheme (CBILS/CLBILS) Government grants and loans for businesses We Read more…

COVID-19 Government Rescue – Update 07 April 2020

When the Chancellor announced the £330bn coronavirus rescue package on 17th March 2020, most businesses and workers saw that there was help at hand and hence would have felt some relief. This sense of relief began to turn into anxiety as a lot of businesses have not been able to access much of the funding promised by the government. The Chancellor has made further announcements Read more…

COVID-19 Rescue Summary – 30 March 2020

As the crisis continues, the details on the support available from the government also continues to evolve and we have therefore put together a bullet point summary of key areas. Coronavirus Job Retention Scheme (CJRS) Self-employment Income Support Scheme (SEISS) IR35 in the private sector Deferring VAT payments Deferring Income Tax payments HMRC Time to Pay service Government grants and loans Statutory Sick Pay (SSP) Read more…

The Coronavirus Business Interruption Loan Scheme (CBILS) and how to apply

first published March 27 2020. Revised update April 6 2020 The Government has announced significant revisions to the Coronavirus Business Interruption Loan Scheme (CBILS) that come into effect from Monday 6 April 2020, opening up the scheme to a wider range of businesses. The Scheme provides UK-based SMEs with turnovers of up to £45 million access to facilities of between £1,000 and £5 million interest-free Read more…

Coronavirus Self Employed Income Support Scheme (SEISS)

Following the announcement that businesses will be reimbursed by HM Revenue & Customs (HMRC) for 80 per cent of the employment costs of ‘furloughed’ workers for at least three months from March, the Chancellor has announced a similar scheme for self-employed individuals. The Self-Employed Income Support Scheme (SEISS) will pay self-employed individuals an amount equivalent to up to 80 per cent of their average monthly Read more…

Coronavirus Job Retention Scheme Guidance Published

HM Revenue & Customs (HMRC) has now published detailed guidance for operation of the Coronavirus Job Retention Scheme, which is intended to reimburse up to 80 per cent of the wage costs of a ‘furloughed worker’. The guidance confirms a number of points including: The scheme applies only to workers who were on the payroll on 28 February 2020; Workers made redundant since 28 February Read more…

Commercial Rent Deferrals

To support UK businesses, the Government has confirmed that commercial tenants that are unable to pay their rent due to disruption caused by the Coronavirus pandemic will not face eviction. The Government had already banned evictions on private residential tenants but has now confirmed that the three-month moratorium on evictions and debt enforcement will be extended to cover commercial leases as well.  Although many commercial Read more…

Working from home

As the Government are recommending that people work from home where possible, many businesses will have had employees working from home for the first time in recent weeks. Amidst the logistics and practicalities of setting your employees up to work from home, it could be easy to overlook the implications of increased home working may have for your business’ tax bill. To help you navigate Read more…