Category: Industry News

4 minutes to readJob Retention Scheme Extended The Job Retention Scheme (JRS), first introduced in March 2020, has been extended until 31 March 2021, to support business through the new national lockdown in place from 5 November. The level of support under the extended JRS will match that of the original scheme in August, in that the Government …

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< 1 minute to readNew grants for small businesses announced. The government has committed £20 million of new funding to support smaller businesses recovering from the effects of the Covid-19 pandemic. The new grant scheme will provide grants of between £1,000 and £5,000 to small and medium-sized businesses to assist with purchasing new technology and equipment or access advice …

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3 minutes to readDiscretionary 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 readJob 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 readCoronavirus – 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 readCoronavirus – 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 readWorking 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 readTo assist with the COVID-19 response, HMRC has published guidance on COVID-19 easements for importers, exporters and customs authorisations on the following matters: Pay no customs duty and import VAT on medical supplies, equipment and protective garments during the COVID-19 response Moving goods through customs during the coronavirus response Customs authorisations during the coronavirus response …

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