Trade Credit Insurance backed

Trade Credit Insurance backed by £10 billion guarantee

Jun 15, 2020

  The Government will provide up to £10 billion of guarantees to Trade Credit Insurance schemes for business-to-business transactions. The spending commitment, known as the Trade Credit Reinsurance scheme, has been agreed following extensive discussions with the insurance sector. The new scheme will ...

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VAT deferral refund available

VAT deferral refund available

Jun 15, 2020

  Taxpayers that wished to defer VAT payments, but did not cancel their Direct Debits in time can claim a refund, according to HM Revenue & Customs (HMRC). The tax authority has confirmed that taxpayers that intended to defer VAT payments due ...

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Government delays VAT Reverse Charge

Government delays VAT Reverse Charge

Jun 15, 2020

The Government has announced that the controversial VAT Reverse Charge rules for the construction sector will be delayed until 1 March 2021 due to the Coronavirus pandemic. The VAT Reverse Charge rules, which effectively transfer the responsibility of paying VAT from ...

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Further clarification issued on eligibility

Further clarification issued on eligibility for second round of Self-Employment Income Support Scheme

Jun 15, 2020

  HM Revenue & Customs (HMRC) has issued further details of eligibility for the second round of the Self-Employment Income Support Scheme (SEISS), which will provide taxable grants to self-employed individuals. The grants will be 70 per cent of average monthly trading ...

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HM Revenue & Customs publishes

HM Revenue & Customs publishes detailed guidance on calculating furlough claims from July onwards

Jun 15, 2020

  HM Revenue & Customs has published detailed guidance on the operation of the Coronavirus Job Retention Scheme (CJRS) from 1 July 2020 onwards, including examples of how to calculate claims for the new flexible furlough option. The CJRS currently provides grants ...

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Accounts

Businesses access £35 billion through COVID-19 support schemes

Jun 10, 2020

The Government has now delivered almost £35 billion in corporate finance to businesses affected by COVID-19, it has been revealed. The figures, published by the British Business Bank (BBB), highlight the importance of the business support schemes three months after shops ...

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Accountancy 18.11

Trade Credit Reinsurance scheme to support 630,000 UK businesses

Jun 05, 2020

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 ...

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seiss

Apply today for Local Authority Discretionary Grants

Jun 03, 2020

  Additional financial support is now available to the UK’s smaller businesses, who may have been excluded from existing schemes through Local Authority Discretionary Grants. Around £617 million has been made available to local authorities to support businesses that are struggling due ...

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self-employed

Self-Employment Income Support Scheme (SEISS) extended

Jun 01, 2020

  The Chancellor has confirmed the extension of the Self-Employment Income Support Scheme (SEISS), with the announcement of a second and final grant to support the income of self-employed individuals during the Coronavirus outbreak. The first and current round of grants under ...

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cjrs-update

Chancellor unveils changes to furlough scheme

Jun 01, 2020

  The Chancellor, Rishi Sunak, has announced a series of changes to the Coronavirus Job Retention Scheme (CJRS) from July that will see furloughed employees able to return to work part-time, but with the value of Government support reducing gradually from ...

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