Trade Credit Reinsurance scheme to support 630,000 UK businesses

SMEs / Business

Trade Credit Reinsurance scheme to support 630,000 UK businesses

More than 630,000 UK businesses have been given the confidence to trade during Covid-19 after the Government announced guarantees of up to £10 billion to Trade Credit Insurance schemes. Trade Credit Insurance enables businesses to trade safe in the knowledge that they will be protected if a customer defaults or delays on payment. According to …

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HMRC updates tax guidance for waiving income and bonuses and charitable giving

The move comes after research revealed that an increasing number of people were choosing to give up all or part of their income despite not understanding the tax implications. What are the rules? Employers, directors and employees have the right to waive their salary or bonuses, known as a “waiver of remuneration”. In these situations, …

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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 …

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Enterprise Finance Guarantee scheme – eligibility restrictions for small businesses

The Enterprise Finance Guarantee (EFG) supports small businesses by providing finance to smaller businesses that cannot obtain finance from their lender because of insufficient security. The British Business Bank has now announced that a number of eligibility restrictions are in place because of the European Union’s (EU) state aid rules.