The government is making changes to insolvency and company law as a result of the COVID-19 pandemic. The Corporate Insolvency and Governance Bill outlines that struggling companies will be given extra time to consider rescue plans presented to them. As part of the changes, companies will have 20 business days to consider a rescue plan,… Read more…

On 26 May 2020, HMRC opened up its Statutory Sick Pay (SSP) rebate claim service. Eligible employers are able to recoup up to two weeks’ worth of SSP payments made to employees off work for COVID-19-related reasons since 13 March 2020 (16 March 2020 if the employee was shielding). This is an ongoing scheme for… Read more…

On 20 May 2020, the government launched its Future Fund package, which aims to support start-up businesses not eligible for other COVID-19 rescue measures. The Future Fund offers government loans of between £125,000 and £5 million to UK-incorporated companies, provided private investors at least match the funding supplied by the state. The package is aimed… Read more…

Several changes to the CLBILS scheme have taken effect from 26 May. The government has extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200 million. However, companies borrowing more than £50 million through theCLBILS will be subject to restrictions on dividend payments, senior pay… Read more…

On 5 June 2020, HMRC announced a five-month delay to the introduction of the domestic VAT reverse charge for construction services, due to the impact of the COVID-19 pandemic on the sector. The change will now apply from 1 March 2021 and will overhaul the way VAT is payable on building and construction invoices as… Read more…

Chancellor Rishi Sunak has announced changes to the government’s Coronavirus Job Retention Scheme (JRS), which will be slowly wound down between July and October. The changes mean businesses will be able to bring furloughed employees back on a part-time basis from 1 July. Furloughed staff will continue to get 80% of their salary until the… Read more…

We are delighted to announce the launch of the U-Deliver website, a service designed to support logistics drivers and Delivery Services Providers. In the delivery world, efficiency is key. But for too long, drivers and delivery service providers have settled for inefficient bookkeeping and financial reporting systems. Now there’s a better way of managing accounting… Read more…

Automatic Enrolment Under current UK law, all employers are required to set up a pension scheme, enrol their eligible employees and make contributions. Automatic Enrolment was introduced in the 2008 Pensions Act and officially began in 2012, with a slow phasing-in process. Under the scheme, employers are expected to complete specific duties, even if they… Read more…

On 4 May 2020 the government launched a micro loan scheme for small businesses as it continues to try and mitigate the economic damage caused by the coronavirus (COVID-19) lockdown. The Bounce Back Loan Scheme allows small businesses adversely affected by COVID-19 to apply for up to £50,000, with the government guaranteeing 100% of the… Read more…

On 27 April 2020 the UK’s seven largest small business lenders announced they had relaxed their evidence requirements for applications to the Coronavirus Business Interruption Loan Scheme (CBILS). The lenders will use their own information when processing and approving applications, rather than relying on businesses providing forecasts and business plans. In a joint statement, the… Read more…