The scope of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) is to be extended from 26 May 2020. The maximum loan size will be increased from £50 million to £200 million. Larger businesses will be able to benefit from
The government has produced guidance to help employers, employees and the self-employed in England understand how to work safely on their return to work during the coronavirus pandemic. The so-called “COVID-19 Secure” guidance currently
The Information Commissioner’s Office (ICO) has published guidance for employers on workplace testing during the coronavirus pandemic. It covers the extent to which employers can carry out tests on staff on their return to work to see if they
Trade credit insurance is a contract acquired by suppliers to make sure they get paid even if their customers default. This gives businesses the confidence to trade with one another and is especially important as the COVID-19 pandemic continues to
We thought it would be useful to remind our readers of the upcoming bank holiday dates across England, Wales, Scotland and Northern Ireland. Whilst many people are still under lockdown, there are still some extra days off to look forward to for the
A reminder that MOT expiry dates are being extended by 6 months for all MOTs due on or after 30 March 2020. This includes vehicles that are due their first ever MOT test and applies to cars, motorcycles, light vans and other light vehicles.
The MOT
Under the Coronavirus Statutory Sick Pay Rebate Scheme small-and medium-sized businesses and employers will be able to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. It has now been confirmed that the online service to
The insolvency measures to help prevent businesses unable to meet debts due to the impact of Coronavirus to continue trading and not be forced to file for bankruptcy have been extended. It was confirmed that the temporary suspension of wrongful
Employees who need to buy substantial equipment to use as part of their employment may be able to claim tax relief based on the initial cost. In most cases you can claim tax relief on the full cost of this type of equipment as it usually qualifies
The Self-employment Income Support Scheme (SEISS) opened for applications on 13 May 2020. HMRC has confirmed that by midnight on 17 May there had been a total of 2 million claims with over £6.1 billion claimed. The scheme will provide grants of
There are special rules in place which limit the ability to change a company’s year-end date. A company’s year-end date is also known as its ‘accounting reference date’ and is historically set by reference to the date the
Most companies will have fairly healthy accounts up to the middle of March 2020 when the lock-down of activity to control coronavirus started.
Since that date, many firms will have struggled to maintain profitability even with the support of the
For less than you would spend on tea milk and coffee each month, you can acquire the use of cloud-based accounting software.
Why bother?
Computerising your accounting routines in this way has a number of benefits for your business; of crucial
The Self-employment Income Support Scheme (SEISS) opened for applications at 8am on 13 May 2020. The scheme will provide grants of up to £2,500 per month based on 80% of average profits to qualifying applicants.
HMRC has reiterated that the
The Chancellor, Rishi Sunak has today (12 May 2020) announced significant changes to the Coronavirus Job Retention Scheme, now commonly referred to as the furlough scheme. The scheme had been due to run until at least 30 June 2020. The Chancellor has
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