HMRC has updated the process for obtaining a government gateway ID for the Self-employment Income Support Scheme (SEISS). In the week where HMRC starts contacting taxpayers about their eligibility for support under SEISS, it has changed the process by which IDs to access the government gateway are created to avoid delays. Taxpayers who already have a government gateway ID whi ...

The government’s Coronavirus Job Retention Scheme will remain open until the end of October, the Chancellor announced today (Tuesday 12 May 2020). In summary: Coronavirus Job Retention Scheme will continue until the end of October Furloughed workers across the UK will continue to receive 80% of their current salary, up to £2,500 per month New flexibility will be introduce ...

Everybody should make a Will during their lifetime and more importantly review their Wills on a regular basis. In these uncertain times, it is more important than ever that the opportunity is taken to review your circumstances and prepare a Will. A Will puts you in control and enables you to protect the interests of your family and ensure your wishes are carried out after you ...

Download this article While at present there is no formal end to the government’s restrictions on work or travel, other countries have begun to ease certain restrictions and it is possible that the UK will follow suit in the following weeks. In addition, the current Coronavirus Job Retention Scheme (CJRS) is due to end on 30 June 2020, and so organisations need to start thinki ...

Updated 4th May 2020 A discretionary fund has been set up to support certain small businesses previously outside the scope of the business grant funds scheme. The government has pledged a further £617 million in grants for small businesses unable to access much needed finance. This is an additional 5% uplift to the £12.33 billion funding previously announced for the Small Bu ...

The Chancellor has written to all accredited CBILS lenders on the new Bounce Back Loan Scheme (BBLS) that provides for a 100% government guarantee. The key points from the letter are: Interest rate set at 2.5% The minimum facility size for term loans and overdrafts under current CBILS will increase to £50,001 to avoid any risk of confusion or overlap between the two scheme ...

Rishi Sunak has announced a new “micro-loan scheme” under which companies will be able to borrow between £2,000 and £50,000 with the government underwriting the entire loan.   The loans will be free of interest, fees and payments for 12 months, the government said. Mr Sunak said the loans would be available from 9am next Monday with companies asked to fill in a “quick standar ...

Updated 21st April 2020 As office holders, salaried company directors are eligible to be furloughed and receive support through this scheme. Company directors owe duties to their company which are set out in the Companies Act 2006. Where a company (acting through its board of directors) considers that it is in compliance with the statutory duties of one or more of its individu ...

CJRS calculator and latest guidance from HMRC 20 April: As the Coronavirus Job Retention Scheme (CJRS) opens, HMRC launches its calculator tool to help businesses work out how much they can apply for. Ahead of the CJRS portal opening today, HMRC launched its calculator tool to help firms identify the level of grant they are entitled too through the scheme. HMRC confirms the ...

Future Fund The Chancellor has announced the launch of the Future Fund, the scheme will issue convertible loans between £125,000 and £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak. The scheme will launch in May 2020. The government loans to UK-based companies will be subject to at least equal match funding from priv ...