The government is making changes to insolvency and company law as a result of the COVID-19 pandemic. The Corporate Insolvency and Governance Bill outlines that struggling companies will be given extra time to consider rescue plans presented to them. As part of the changes, companies will have 20 business days to consider a rescue plan, which can be extended to 40 days at the d ...

Updated 19th June 2020 If you are self-employed or a member of a partnership and have been adversely affected by coronavirus, you could be eligible to claim a grant under the Self Employment Income Support Scheme. The scheme currently allows you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, capped a ...

The Future Fund provides government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors. These convertible loans may be an option for businesses that rely on equity investment and are unable to access other government business support programmes because they are either pre-revenue or pre-profit. The s ...

HMRC has announced a five-month delay to the introduction of the domestic reverse charge for construction services, due to the impact of the coronavirus pandemic on the construction sector. The VAT change will not now apply until 1 March 2021. The new rules mark a complete overhaul of the way VAT is payable on building and construction invoices. Under the domestic reverse char ...

Temporary changes have been made to the eligibility criteria for Tax-Free Childcare and 30 hours free childcare, during coronavirus. The changes may affect you if you, or someone you live with, are: on furlough not able to work or you’re working less self-employed a critical worker If you’re on furlough You should apply, or reconfirm if you already have a childcare a ...

There is a wide range of financial support available under the Government’s economic rescue package, but it can be difficult to identify the measures most relevant for your specific circumstances. Ward Williams provide a simple overview of the most common financial issues arising for businesses and individuals affected by COVID-19. Read our latest newsletter For further info ...

Updated 29th May 2020 Changes to the Coronavirus Job Retention Scheme (CJRS) will apply a month earlier than expected. From 1 July the scheme will allow part-time working, but staff must have been furloughed by 10 June to be eligible. The Chancellor has announced the government’s plans to change the CJRS which will now be re-engineered to support businesses sending staff back ...

Updated 29th May 2020 Download PDF If you are self-employed or a member of a partnership and have been adversely affected by coronavirus, find out if you can use this scheme to claim a grant. The scheme currently allows you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, capped at £7,500 in total. I ...