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 […]
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.
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. […]
HMRC has announced today that their system to submit applications for grants under the Coronavirus Job Retention Scheme Launch is set to go live on 20th April. Given that the latest analysis by the Resolution Foundation is projecting that over nine million workers are likely to be furloughed under the scheme, HMRC are already […]
COVID-19 – Business Support – Changes Made To Coronavirus Business Interruption Loan Scheme – Is It Too Little, Too Late?
The Chancellor, Rishi Sunak, has announced that changes will be made to Coronavirus Business Interruption Loan Scheme (CBILS) from today to boost the support to businesses affected by COVID-19. This is set against a backdrop of a growing sense of frustration at the stance being taken by the lenders that has made CBILS virtually redundant […]
For many small businesses, the strain on their cash flow from COVID-19 is really beginning to bite. As a result, a growing number of businesses are looking for advice as to whether they legal grounds to end or suspend a contract in a bid to reduce expenditure. Our colleague, John Warchus of Moore Blatch solicitors, […]
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.