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Update on the UK Job Retention Scheme

The rules on the Job Retention Scheme are changing The aim of this note is to provide you with an update on the UK Job Retention Scheme and follows various announcements and changes made by the UK Government. The rules that are planned to operate each month are, in summary as follows. Job Retention Scheme […]

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Covid Bounce Back Loan

Background to the Bounce Back Loan The UK Government has announced that a new loan will be available from today to help small businesses.  Details of the loan, called a ‘Bounce Back Loan’ can be found on the following web-site: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan. Bounce Back Loan – summary In summary, the loan: is aimed at helping small and […]

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Can a sole director be furloughed?

Two reasons why we don’t think a sole director can be furloughed The question that I am trying to address here is if a sole director can furlough himself or herself In summary, there are two reasons why I don’t think that this is allowed under the current rules: Reason 1: A company must always […]

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Help for the UK self-employed announced today

Taxable grant of 80% of average monthly profits, up to a maximum of £2,500/month The UK Government announced today a grant to help self-employed to help them cope with the financial impact of Coronavirus. The Coronavirus Self-Employment Income Support Scheme, as it is called, is worth 80% of the self-employed persons average monthly profits over […]

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Government announces more time to file Accounts and pay Corporation Tax

Deadline for filing accounts with Companies House delayed by 3 months The UK Government has announced that from today (25/03/20) businesses can apply for a 3-month extension for filing their accounts. The Government says: “As part of the agreed measures, while companies will still have to apply for the 3-month extension to be granted, those […]

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UK COVID-19 aid for businesses – actions and fees

This post summarises the webinar that we held earlier today (25/03/20, 9:30am UK Time) regarding the aid that is available to small businesses and the actions we suggest that you take. As I noted before, we would like to offer these services to our clients free of charge. However, like everyone else we need to […]

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