Category: Industry News

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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< 1 minute to readThe 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 readHMRC has confirmed an extension to the deadline for implementing digital links for MTD for VAT as follows: “We understand that the impact of COVID-19 is creating extremely difficult times for all, and we are committed to helping in every way possible all those businesses facing unprecedented challenges. Therefore, we are providing all MTD businesses …

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< 1 minute to readIn 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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