Coronavirus Job Retention Scheme: the details of the scheme

27.03.20 / Insight posted in Articles

Further guidance was released on the Coronavirus Job Retention Scheme on 26 March 2020 which clears up a number of uncertainties around the operation of the scheme and furloughing of employees. Read more here.

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Grant fundraising in a crisis: How can charities access grant funds quickly and successfully?

27.03.20 / Insight posted in Articles

In the face of the Coronavirus crisis, charities are crucial now more than ever and many need urgent support themselves. Parts of the sector that were already struggling have suddenly been hit with challenges of extraordinary proportion and no one knows what the future holds. Charities often serve the most vulnerable people in our society.…

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Managing AGMs during the Coronavirus period

27.03.20 / Insight posted in Articles

Companies planning their annual general meetings (AGMs) should be checking their articles of association (articles), and considering contingency plans in light of the current government guidance relating to Coronavirus. Every UK public company is required to hold an AGM each year, within six months of its accounting reference date. A private company whose shares are…

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FT.com: Tim Stovold queries Chancellor’s lacking support for personal service companies

27.03.20 / Insight posted in MKS News

Following the Chancellor’s announcement of support for self-employed people, Tim Stovold voices concern for the vast numbers of people who own and manage their own business, some 400,000 of whom draw income in the form of dividends. He said: “They are left out in the cold for no logical reason.” Full article here. Subscription needed.

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FT.com: Lynne Rowland calls for tax relief on nursery fees

27.03.20 / Insight posted in

Lynne Rowland said: “Some childminders and nurseries have asked parents to continue to pay their fees to retain their children’s places, even if they are not permitted to offer them childcare services. This is perhaps understandable in the absence of clarity over how the special financial measures apply. But the government should consider offering families full tax…

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Coronavirus Business Interruption Loan Scheme (“CBILS”)

27.03.20 / Insight posted in Articles

What is CBILS? The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak. The scheme is a part of a wider package of government support for UK businesses and employees. CBILS is…

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Critical support for business owners

26.03.20 / Insight posted in Brochures

In these unprecedented times, business owners are looking closely at the financial position of their businesses. We are already working with many of our clients to assess and implement the options available them. Here we summarise some of the recurring themes emerging from our conversations and key immediate actions you may want to consider. If…

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Self-Employed Income Support Scheme – help for the self-employed but personal service companies left in the cold

26.03.20 / Insight posted in Articles

As expected, The Chancellor unveiled his Self-Employed Income Support scheme in this evenings briefing. Although this scheme does help self-employed individuals, it does not help individuals operating through a personal service company. The scheme is similar to the Coronavirus Job Retention Scheme but with important differences: To qualify for the scheme, a self-employed individual must…

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Coronavirus job retention scheme: What does it mean for businesses and employees?

26.03.20 / Insight posted in Articles

As businesses are ordered to close and employees to stay at home, the government is attempting to protect the wages of those affected with the coronavirus job retention scheme (CJRS). The CJRS offers employers access to up to 80% of wage costs capped at £2,500 per month for each furloughed employee. The scheme aims to…

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Deferral of self-assessment payments due on 31 July 2020 – HMRC to extend to all taxpayers and not just the self-employed

26.03.20 / Insight posted in Articles

The chancellor announced last week that self-employed individuals would be able to defer their self-assessment tax payment on account due on 31 July 2020 by six months to 31 January 2021. The reference to “self-employed” meant that this measure would not apply to those without self-employment income so buy-to-let landlords and those with investment income…

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