The Coronavirus Large Business Interruption Loan Scheme (CLBILS)
Apr 07, 2020
The Government has announced a further scheme to support businesses through the Coronavirus crisis. The Coronavirus Large Business Interruption Loan Scheme (CLBILS) is aimed at large businesses with annual turnovers of between £45 million and £500 million. These businesses cannot access facilities ...
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Revised Coronavirus Business Interruption Loan Scheme (CBILS)
Apr 06, 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 ...
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What expenses are taxable when working from home?
Mar 31, 2020
If any of your employees are working from home due to Coronavirus because your workplace has closed or you are following advice to self-isolate then you may be able to deduct some of the costs of home working as a ...
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The Coronavirus Jobs Retention Scheme and employers’ National Insurance and Pension contributions
Mar 31, 2020
Much of the coverage of the Coronavirus Jobs Retention Scheme (CJRS) has focused on the Government’s commitment to cover the cost of 80 per cent of the usual wages of ‘furloughed employees’ – those who remain on the payroll but ...
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Soft-landing period for MTD for VAT extended to April 2021
Mar 31, 2020
HM Revenue & Customs (HMRC) has announced that the second phase of Making Tax Digital for VAT will now be postponed until 1 April 2021 The first year of MTD was subject to a one-year “soft-landing period”, which has seen HMRC ...
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Suspension of director liability for wrongful trading
Mar 31, 2020
The Government has announced important changes to UK insolvency law that suspends director liability for wrongful trading. Seeking to provide reassurance to business directors in light of the ongoing COVID-19 pandemic, the Government has retrospectively suspended restrictions around wrongful trading from ...
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Holiday rules relaxed to allow annual leave to be carried over to next two years
Mar 31, 2020
The Government has announced that existing rules around annual leave will be relaxed to allow workers who have not used their statutory annual leave entitlement this year due to COVID-19 to carry it over into the next two years. Most full-time ...
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Coronavirus support for people working through their own limited company
Mar 31, 2020
If you work through your own limited company, you will no doubt have been disappointed to discover that the measures announced by the Chancellor last week for self-employed individuals do not apply to you. However, the guidance for the use of ...
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Coronavirus Job Retention Scheme Guidance Published
Mar 27, 2020
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 ...
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Coronavirus Self Employed Income Support Scheme (SEISS)
Mar 27, 2020
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 ...
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