The Bounce Back Loan Scheme (BBLS) has provided support to many UK-based small businesses. Loans are between £2,000 and £50,000, capped at 25% of turnover, with a 100% government guarantee to the lender. The borrower does not have to make any repayments for the first 12 months, with the government covering the first 12 months’… Read more…

Over half a million businesses deferred VAT payments, which were due in March to June 2020, with these payments becoming due at the end of March 2021. As part of the Winter Economy Plan the government has now announced the option for such businesses to spread their payments over the financial year 2021/22. Businesses will… Read more…

As part of the Winter Economy Plan the Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension. The grant: will be limited to self-employed individuals who are currently eligible for the SEISS, and will be available to individuals who are actively continuing to trade but are facing reduced demand due… Read more…

The existing job support scheme, the furlough scheme, comes to an end on 31 October. As part of the Winter Economy Plan the government announced it will be introducing a new Job Support Scheme from 1 November 2020. For employers to participate in the scheme: employees will need to work a minimum of 33% of… Read more…

The rise of the coronavirus and the restrictions that have followed have had a significant effect on businesses, both large and small. Social distancing and quarantine have transformed the way in which customers shop, with many companies falling casualty along the way. We are in uncertain times, but there are ways to improve your chances… Read more…

HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: Coronavirus Job Retention Scheme and what employers need to do from August onwards making sure you are paying the correct workplace pension contributions new laws to ensure furloughed employees receive full statutory redundancy payments the… Read more…

Two self assessment deadlines are approaching: 5th October 2020 For those individuals who have not previously completed a tax return but need to report a liability for 2019/20. 31st October 2020 For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2019/20 return is 31 October 2020. Returns submitted… Read more…

The government has announced that more than 64 million meals were enjoyed by diners across the country during the government’s Eat Out to Help Out discount scheme. The scheme closed on 31 August 2020. Government figures show that restaurants had claimed for more than 64 million discounted meals as Eat Out to Help Out entered… Read more…

New company car advisory fuel rates have been published which take effect from 1 September 2020. The rates only apply to employees using a company car. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply.’ The advisory fuel rates for journeys undertaken on… Read more…

Over £30 million has been lost to pension scams since 2017, according to the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR). A total of £30,857,329 in pension savings has been lost to scammers since 2017, data published by the FCA and the TPR revealed. Reported losses ranged from under £1,000 to as much… Read more…