1 June

COVID-19 – The Government has Announced a Welcome Second Grant under the Self-Employment Income Support Scheme but Key Groups to the Revival of the Economy are Still Left with Nothing

The application process for the initial grant under the Self-Employment Income Support Scheme opened on 13th May 2020 and, at the end of 24th May, 2.3 million claims had been made for a total of £6.8 billion   The eligibility criteria for self-employed individuals, including members of partnerships, are that they: submitted their Self-Assessment tax […]

30 May

COVID-19 – Business Support – Three Important Job Retention Scheme Updates – Flexible Furloughing to start from 1st July, the scheme to close to new entrants on 30th June and the employer to start to contribute from August

The Chancellor, Rishi Sunak, has announced three important updates to the Job Retention Scheme.   Firstly, the concept of flexible furloughing has been brought forward by a month to 1st July 2020.  This will enable businesses to bring furloughed employees back to work on a part-time basis.   It will be left for the individual […]

22 May

COVID-19 – Business Support – Tax Relief For Working From Home – Every Little Helps!

At CooperFaure, we are nearing the tenth week of switching to a remote working model with the team working from home since the office was closed in response to COVID-19 on 16th March .  We know that that this is the case for millions of employees up and down the country. There is a cost […]

19 May

COVID-19 – Business Support – Future Fund to Open

HMRC has announced that the application process for the Future Fund will go live from Wednesday 20th May initially until the end of September 2020. The Future Fund is designed to provide government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors. The key […]

13 May

COVID-19 – Business Support – Self-Employment Income Support Scheme Goes Live Today

HMRC has announced that the application process for the Self-Employment Income Support Scheme will go live from today. The scheme is open to a self-employed individual or a member of a partnership who: traded in the tax year 2018-19 and submitted their Self-Assessment tax return on or before 23rd April 2020 for that year; traded […]

4 May

COVID-19 – Business Support – The Government Announces Additional Funds For The Local Business Grant Funds Schemes To Cover More Businesses

Over the weekend, the government announced that they had been in discussions with local authorities in England to provide additional support for certain small businesses previously outside the scope of the business grant funds scheme through a discretionary fund. This will be via a 5% uplift to the £12.33 billion funding previously announced for the […]

4 May

COVID-19 – Business Support – The Key Terms For The Bounce Back Loan Scheme Goes Live Today

The Bounce Back Loan Scheme goes live today and the British Business Bank have published more detailed guidance. The main eligibility criteria for a business are: it is engaged in trading or commercial activity in the UK and was established by 1st March 2020; it is not registered as a business in difficulty at 31st […]

27 April

COVID-19 – Business Support – New Bounce Back Loan Scheme With 100% Government Guarantee Available From Monday 4th May

The Chancellor, Rishi Sunak, has updated the House of Commons today on the Government’s economic response to COVID-19.   As part of the statement, he announced a new Bounce Back Loan Scheme.  This will be targeted at small businesses with a fast-track finance application process and a 100% government-backed guarantee with the lenders to provide […]

20 April

COVID-19 – Business Support – New Support For Start-Up and Tech Businesses

The Treasury has announced a £1.25bn package of support for start-up and tech businesses impacted by COVID-19 through two new facilities.   Firstly, the £500m Future Fund will launch in May and be delivered in partnership with the British Business Bank.  The fund will provide government loans ranging between £125,000 and £5 million to UK-based […]

17 April

COVID-19 – Coronavirus Job Retention Scheme Extended To The End of June

Chancellor Rishi Sunak has just announced that the Coronavirus Job Retention Scheme will be available for another month until the end of June.  He has also kept the option to further extend the scheme if necessary. Mr Sunak said “With the extension of the coronavirus lockdown measures yesterday, it is the right decision to extend […]