The Chancellor Rishi Sunak delivered a mini-budget today as part of the next phase of government support in response to the impact of the Coronavirus on the UK economy. The main aim is to protect, support and create jobs. A summary of the key announcements are detailed below: Job Retention Bonus for employers Employers who …
Xero has added two significant updates to it’s cloud accounting software which will certainly assist businesses determine their financial position at a glance and understand their short term cash flow. Both updates are currently in pilot however are available to UK Xero subscribers in the Business menu of the cloud accounting software. The two new …
The government’s Coronavirus Job Retention Scheme (CJRS) will remain open until the end of October 2020. Flexible Furlough Scheme The Coronavirus Job Retention Scheme is changing and becoming more flexible. From 1 July 2020 employers will be able to bring back employees that have previously been furloughed for any amount of time while still being …
THE DISCRETIONARY GRANT FUND IS NOW CLOSED TO NEW APPLICANTS The Discretionary Grant Fund supports small and micro businesses that are not eligible for other grant schemes. Please note the scheme closes for applications at 5:00pm on 15 June 2020. Small and micro businesses with fixed property costs that are not eligible for the Small …
If you are self-employed or a member of a partnership and have been adversely affected by coronavirus you may qualify for two grants under the Self-Employment Income Support Scheme (SEISS). The first grant is claimable now and you must your claim before 13 July 2020 to claim the grant. The second grant will be claimable …
Like many businesses Coronavirus has had a significant impact on our business and our way of working. Since the outbreak of the pandemic our team have been home working successfully with only a couple of members of the team in the office at anyone time. The team has communicated using Microsoft Teams and Zoom for …
The Bounce Bank Loan Scheme is one of a number of government-backed lending schemes designed to support businesses affected by Coronavirus. Lending through the Bounce Back Loan scheme is capped at £50,000 and is 100% government backed initiative for small businesses. You can apply for a loan between £2,000 and £50,000 up to a maximum …
The Coronavirus Self-Employment Income Support Grant is for Self-Employed individuals or members of a partnership who have been adversely affected by Coronavirus. The scheme will make available a taxable grant of 80% of the average monthly trading profits for the 3 years to 5 April 2019, paid out in a single instalment covering 3 months …
The Scottish Government have announced further Coronavirus funding for those who have recently started in self employment and have not been able to benefit from the other available Coronavirus business support schemes. If you live in Scotland and have started in self employment from 6 April 2019 onwards, you may be able to receive a …
Government support and guidance is continually being adjusted to reflect the seriousness of the health and economic impact. We will digest this information, cut through the noise and summarise the information for the self-employed and business owners.
