22/05/20 – Online Help Platform – Accessing Financial Support during COVID-19: The UK government’s Coronavirus Business Support Finder Tool will guide businesses through the range of loans, tax reliefs and cash grants to combat the adverse economic effects of the COVID-19 lockdown.
12/05/20 – Job Retention Scheme Extended: The scheme is to remain open until the end of October. New flexibility will be introduced from August to get employees back to work. Furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff. The employer payments will substitute the contribution the government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month. More specific details will be made available by government by the end of May.
17/04/20 – BUSINESS SUPPORT INFOGRAPHIC: Helpful infographic detailing the business support available can be found here
28/04/20 – Small Business Bounce Back Loans: 100% government backed loan scheme for small business. Businesses will be able to borrow between £2,000 and £50,000 and access the cash within days. Loans will be interest free for the first 12 months. Online application through a short and simple form. See www.gov.uk website.
25/04/20 – HMRC Employer Bulletin: HMRC issue an Employer bulletin every two months – up to date information on payroll topics – including Covid-19 related issues. April Employer Bulletin.
23/04/20 – FURLOUGH FOR COMPANY DIRECTORS: Helpful information around furlough eligibility of directors
20/04/20 – JOB RETENTION SCHEME UPDATE: HMRC portal to submit grant claims opens – including calculator tool
15/04/20 – JOB RETENTION SCHEME UPDATE: Details of what information will be required. 15/04/20
JOB RETENTION SCHEME UPDATE: Updated guidance from HMRC update to the Coronavirus Job Retention Scheme. Clarification over what can be claimed – wages, fees and compulsory commission payments. The reference salary should not include non-monetary benefits in kind. There is some further explanation about Directors being furloughed. HMRC is encouraging of furloughed employees undertaking training.
30/03/20 – NEW INSOLVENCY MEASURES: The intention is to give firms extra time and space to weather the storm and be ready when the crisis ends, whilst ensuring creditors get the best return possible in the circumstances. Find out more here 30/03/20
GOVERNMENT SUPPORT: Please follow this link for details of the various assistance packages that the Government has announced. Government Support