As part of the basket of measure the Chancellor announced to support businesses impacted by COVID-19, there is the opportunity to defer VAT payments as an aid to business cash flow. All UK VAT-registered businesses have the option to defer VAT payments due between 20th March and 30th June. In practical terms, for businesses making […]
The government temporarily relax wrongful trading laws to allow Directors to take tough decisions without fear of personal liability.
HMRC have published their detailed guidance on the eligibility and process for making a claim through the Coronavirus Job Retention Scheme which we have summarised.
The Coronavirus Business Interruption Loan Scheme is now live. The key features are: Up to a £5m facility: The maximum value of a facility provided under the scheme will be £5m, available on repayment terms of up to six years. 80% guarantee: The scheme provides the lender with a government-backed, partial guarantee of 80% against […]
As the government race to build a support structure for businesses and individuals left in crisis from the impact of COVID-19, much has been achieved in a very short time. However, at the moment, too many fall through the cracks.
Yesterday, The Chancellor announced new measure to support businesses through the challenging times ahead and we now have more details on how these will work in practice. The Coronavirus Job Retention Scheme Under this scheme, which is open to all UK businesses, HMRC will reimburse 80% of furloughed workers wage costs, up to a cap […]