Having received some criticism for the CBILS scheme the Government have launched the Bounce Back Loan Scheme for small businesses. The BBLS offers a 6 year loan with an interest rate of 2.5% for the term, and importantly, for the first 12 months there are no repayments to be made and the Government are paying…Read More
From Monday 4th May HMRC will be commencing contact of self-employed people who are eligible to make a claim under the SEISS scheme. The claims system will be open for applications from 13th May for those eligible and HMRC are promising a payment by 25th May or within 6 working days for qualifying applicants. Details…Read More
(Updated: Friday 17th April) In the Wednesday briefing the Government announced that the eligible date for an employee to be included in the Job Retention Scheme claim has been moved to 19th March (the day before the scheme was announced). This change means that many employees who previously didn’t qualify to be included in the…Read More
Although there is still no portal via which to make a claim yet, there have been some clarifications issued by HMRC on the details of the Job Retention Scheme, the primary updates are: Company directors can be furloughed and still carry out their ‘statutory duties’. They should not however “do work of a kind they…Read More
The Chancellor has announced a scheme to support the self-employed. The government will pay self-employed people, who have been adversely affected by the coronavirus, a taxable grant worth 80% of their average monthly profits over the last 3 years, up to £2,500 per month. If there are not three years available then they will look…Read More