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Coronavirus

Government Announces New Lockdown Support Measures

Posted: 13th Oct 2020 by Clair Watmore Blog

The Chancellor has announced that the Government will expand the new Job Support Scheme (JSS) to assist jobs and businesses required to close their doors as a result of tougher Coronavirus restrictions. The announcement was made ahead of new plans to introduce a tier-based system for lockdowns across the country, which could force some businesses… Read more

Government Winter Economy Plan

Posted: 28th Sep 2020 by Clair Watmore Blog

On Thursday 24 September the Chancellor delivered his “Winter Economy Plan”, in lieu of the Autumn Budget which has been cancelled. This is not surprising, given that it is difficult for anyone, individuals, businesses, or countries to budget at the moment. His plan was very much business focused, and the main announcements are detailed below: Job… Read more

HMRC publishes Job Retention Bonus guidance

Posted: 11th Sep 2020 by Clair Watmore Blog

The Government has published further detail of the Job Retention Bonus which will be payable to employers who employ furloughed employees until at least 31 January 2021.  Further guidance is due to be published in September.  In this briefing, we outline the key information for employers considering making claims. What is the Job Retention Bonus (JRB)?… Read more

Good Debt vs Bad debt

Posted: 26th Aug 2020 by Clair Watmore Blog

The British Business Bank has announced that the Coronavirus Business Interruption Loan Scheme (CBILS) will be extended by two months to 30th November 2020 for lenders. So far, applications still have to be submitted to lenders by businesses by 30th September, although there are many campaigning for this to be extended. How does it work? This… Read more

New £20m professional services grant includes accountancy advice

Posted: 26th Aug 2020 by Clair Watmore Blog

Small businesses in England can now benefit from a new tranche of government grants designed to help them recover from the impact of coronavirus through professional advice – including guidance from accountants. The scheme, which opened on 19 August, dispenses grants of between £1,000 – £5,000 to small and medium-sized businesses from an overall fund… Read more

Eat out to help out

Posted: 21st Aug 2020 by Clair Watmore Blog

In an attempt to kick start the hospitality industry, earlier this month the government introduced the Eat Out to Help Out Scheme. The scheme will run until the 31st August and will provide diners with a 50% discount on food purchases up to a maximum of £10 per diner. The Eat Out to Help Out… Read more

Temporary reduced rate of VAT for hospitality and tourism

Posted: 21st Aug 2020 by Clair Watmore Blog

The Chancellor’s Summer Statement on 8 July was a bit of good news for some of the sectors that have been hardest hit by COVID-19.  Rishi Sunak announced that from 15 July 2020 until 12 January 2021 certain supplies of hospitality, accommodation and admission to attractions will be subject to VAT at 5% rather than… Read more

Timeline: Financial Support Schemes and Key Dates

Posted: 11th Aug 2020 by Clair Watmore Blog

Are you struggling to keep track of all the different funding schemes and Covid reliefs?  We have pulled together a handy reference guide to remind you of key dates and deadlines over the next 8 months, to ensure that you don’t miss out on any of the available reliefs. View the full Coronavirus Financial Support… Read more

Carry Back Corporation Tax Losses

Posted: 4th Aug 2020 by Clair Watmore Blog

Relief for corporation tax losses your company has made in a year can provide it with a refund of corporation tax. The outbreak of Covid-19 has presented companies with a unique set of challenges. Chief among them is how to manage cash flow. Where your company has been adversely affected by the pandemic, it could… Read more

Summer Budget 2020 Update

Posted: 9th Jul 2020 by Clair Watmore Blog

There has been a lot of speculation over recent weeks regarding the contents of Rishi Sunak’s summer budget. Many anticipated changes to VAT and stamp duty but there were some complete surprises. For property investors, the reduction to stamp duty creates some significant savings too. Here are the details of the announcements: VAT The VAT… Read more