Personal Finances

The ongoing COVID-19 pandemic is having a significant impact on all aspect of individual’s lives, not least their personal finances.  During this difficult period, it is likely that your staff may look to you for advice if their own income is affected by the economic impact of this virus. To help them make sense of your rights and what financial support may be available to Read more…

Tax and Companies House Deferrals

As part of its measures to reduce the economic impact of the Coronavirus crisis, the Government has announced deferrals to a number of HM Revenue & Customs (HMRC) and Companies House deadlines to ease the strain on businesses and self-employed individuals. VAT VAT payments have been deferred by three months from 20 March 2020 until 30 June 2020. During this period, businesses will not need Read more…

Employment

A key consideration for many businesses will be employment costs and staff safety. Significant steps have been taken by the Government to help businesses protect jobs by introducing measures that seek to subsidise wages and provide refunds for those on sick pay as a result of the Coronavirus. Coronavirus Job Retention Scheme The Chancellor has announced a scheme to reimburse up to 80 per cent Read more…

Business rates relief extended

Two significant elements of the Government measures to ease the financial impact of the Coronavirus crisis have been business rates reliefs and grants to certain ‘at risk’ businesses. These include: grants for businesses in the hospitality, leisure and retail sectors a grant for businesses that pay no or little business rates and, A 100 per cent business rates relief for businesses working in certain sectors. Read more…

Coronavirus Business Interruption Loan Scheme (CBILS)

Small to medium-sized businesses in the UK are now able to apply for finance via the Coronavirus Business Interruption Loan Scheme (CBILS) to help them deal with the operating costs of their business and to assist with maintaining cash flow. To help you apply for a loan, we have answered some common queries below: Am I eligible?  The scheme is available to businesses with turnovers Read more…

Preparations Checklist

To help you plan through this pandemic, we have put together a checklist to help you mitigate some of the business impacts:  Consulting with employees on matters including: Statutory sick pay Coronavirus Job Retention Scheme Redundancies and layoffs Defer tax payments by establishing Time to Pay agreements with HM Revenue & Customs (HMRC), for: PAYE NIC CIS (Construction Industry Scheme) VAT MGD (Machine Games Duty)  Read more…