Author: Jacquelyn Kimber

3 minutes to read Discretionary Local Authority Grant Funding Local authorities have received additional funding from the Government to assist businesses not eligible for cash grants under the Small Business Grant Fund (SBGF) https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-small-business-grant-fund, the Retail, Hospitality and Leisure Grant Fund (RHLGF) https://www.gov.uk/government/publications/coronavirus-covid-19-guidance-on-business-support-grant-funding or other targeted funds, for example for fisheries.  Under the discretionary grant funding scheme, eligible businesses …

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6 minutes to read Job Retention Scheme (JRS) – Updated 01/06/20  The JRS is designed to protect jobs by providing cash to employers who might otherwise be forced to make staff redundant. It is estimated that approximately two thirds of UK businesses are intending to make use of the JRS. The scheme covers the cost of wages backdated to …

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4 minutes to read Coronavirus – Help for the Self-employed The ‘Self-employment Income Support Scheme’ (SEISS) broadly mirrors the Job Retention Scheme (JRS) previously announced for employees on PAYE, although the eligibility criteria are a little more restrictive.  The JRS has been extended to the end of October 2020, and the SEISS has also been revised to provide a …

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2 minutes to read ‘Bounce Back’ Loan Scheme A new loan scheme focused on small and medium-sized firms was announced by the Chancellor on 27 April 2020, in response to concerns that the Coronavirus Business Interruption Loan Scheme (see below) was not working sufficiently well for the smaller business sector.  Under the Bounce Back loan scheme, loans of between …

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9 minutes to read Coronavirus – Help for business (Updated 28 April 2020) Businesses are facing unprecedented challenges during the Coronavirus outbreak, and the government has been quick to acknowledge this and introduce a number of measures to bring relief through the tax system to large and small employers alike.  Further details can be found on HMRC’s website. TAX …

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4 minutes to read Working from home – what expenses can you claim? The Covid-19 pandemic has resulted in more employees than ever working from home, whether because of office closures or the need to self-isolate at home.   Many employers and employees will not have considered the tax implications of expense payment associated with home working. To avoid falling …

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< 1 minute to read The Coronavirus Act 2020 contains a number of measures to assist both tenants and landlords affected by the Covid-19 pandemic.  Tenants The government’s measures do not include a rent ‘holiday’ or specify that landlords must offer a reduction in rent during the Covid-19 pandemic, and rent will continue to be payable in accordance with the …

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< 1 minute to read In the light of latest government advice on the coronavirus outbreak, we would like to reassure our clients that our offices remain open and our staff and partners are on hand to provide all our usual services. We are making some adjustments to our normal working practices, such as arranging for staff to work from …

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2 minutes to read Following Chancellor Rishi Sunak’s Budget announcement yesterday, we’ve highlighted the key changes that will impact on small and medium businesses and their owners. For SMEs (meaning businesses with 250 or fewer staff), the cost of Statutory Sick Pay will be refunded in full for 14 days if employees are off work because of coronavirus. Meanwhile, …

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9 minutes to read In a world where even investors lack a precise understanding of cryptocurrencies, Jacquelyn Kimber attempts to make sense of the taxation of cryptoassets. What is the issue? HMRC’s promised further guidance on the taxation of cryptoassets for businesses and companies, due in ‘early 2019’, has not yet been published. What does it mean to me? …

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