Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. This applies to employees who have been asked to stop working, but who are being kept…
Read more
Tax planning options for 2020-21
The 6th April marks the beginning of a new tax, and for the coming year, unprecedented challenges. As with most things in life, problems are a necessary precursor to finding solutions. We have listed below a few reminders of the issues you may want to consider as worthy of including in your 2020-21 tax planning…
Read more
How to apply for a Business Interruption Loan
The British Business Bank has updated its guidance on how to apply for the recently changed Coronavirus Business Interruption Loan Scheme (CBILS). A summary follows; Who can you apply to? Most of the UK High Street banks can provide a CBILS loan facility. As your present bankers already know you and your business, for most…
Read more
Updated Guidance on Coronavirus Job Retention Scheme
The government issued updated and more detailed guidance on the Coronavirus Job Retention Scheme on 4 April 2020. The full guidance can be accessed here https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Some of the important clarification relate to the following: Office Holders and Company Directors 'As office holders, salaried company directors are eligible to be furloughed and receive support through this…
Read more