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 […]

16 April

COVID-19 Coronavirus Job Retention Scheme Cut-Off Date Extended to 19th March

HM Treasury announced last night that the eligibility cut-off date for Coronavirus Job Retention Scheme has been extended to the 9th March 2020 from the original date of the 28th February 2020. However, the employee simply being employed on that date is not enough.  To be eligible as a furloughed employee, the employee needs to both be […]

9 April

COVID-19 – Business Support – Coronavirus Job Retention Scheme – A Brief Guide

COVID-19 – Business Support – Coronavirus Job Retention Scheme – A Brief Guide

As the Coronavirus Job Retention Scheme is scheduled to go live on 20th April, we have put together a brief guide based on the questions that our clients have been asking over the last couple of weeks since the scheme was announced.

9 April

COVID-19 – Business Support – Coronavirus Job Retention Scheme – Specific Considerations For Eligible Individuals That Are Not Employees

The HMRC guidance below sets out specific considerations for those individuals who are paid via PAYE, but who are not necessarily employees in employment law. Unless explicitly set out below, all other guidance is applicable to these cases, and should be followed. Office Holders Office holders can be furloughed and receive support through this scheme. […]