Category Archives: Corona Virus

Bounce Back Loan Scheme (BBLS) January 21 Update

Bounce Back Loan Scheme (BBLS) January 21 Update

We have now entered into the 3rd Lockdown and the Government has acknowledged the impact by announcing new Financial Aid via different schemes.  The nature of this support to businesses is implemented in many different ways. Bounce Back Loan Scheme (BBLS) Many business owners are familiar with Bounce Back Loan since early 2020.  This scheme […]

Government Financial Support For Self-Employed Jan 2021

Government Financial Support For Self-Employed Jan 2021

We have now entered into the 3rd Lockdown and the Government has acknowledged the impact by announcing new Financial Aid via different schemes.  The nature of this support to businesses is implemented in many different ways. 1        Self Employment and Universal Credit This financial support package helps with living costs.  You can get it if […]

Government Financial Support One-Off Grant For Retail, Leisure And Hospitality Businesses

Government Financial Support One-Off Grant For Retail, Leisure And Hospitality Businesses

We have now entered into the 3rd Lockdown and the Government has acknowledged the impact by announcing new Financial Aid via different schemes.  The nature of this support to businesses is implemented in many different ways. 1. Additional Restrictions Grant (ARG) This is a council-led grant to support closed businesses that don’t directly pay business […]

Government Grants & Scheme – November 2020

Government Grants & Scheme – November 2020

A – Job Support Scheme – JSS replaces Furlough Since March 2020, there are several financial aid measures declared by the UK Government.  On 22 October 2020, UK Chancellor has announced a revised financial aid package for businesses.  Here is a quick simplified summary. On 31 October 2020, the current “Furlough” scheme ends and a […]

Self-Employment Income Support Scheme (SEISS) Sept 2020

Self-Employment Income Support Scheme (SEISS) Sept 2020

The government has announced the Second stage of the Self-Employed Income Support Scheme since 17 August 2020. Key points: In the first round, the Government grant was 80% of the average of three months of trading profits, up to a maximum of £7,500 (average £2,500 per month). The second grant is up to 70% of […]

Job Support Scheme (JSS) Replaces Furlough

Job Support Scheme (JSS) Replaces Furlough

On 31 October 2020, the current “Furlough” scheme ends and a new initiative called “Job Support Scheme” starts. Initially, we were informed that Furlough is a very simple scheme but in fact, it was complex and needed expert knowledge and the tools to deliver.  From 01 July 2020, it became more complex by adding “flexible […]

Furlough – Company Director

Furlough Director

We have now received further explanation from HM Revenue & Customs regarding the 80% Job Retention Scheme eligibility.   This is the most detailed clarification to date.  Though it’s far from Yes or No, this is the best we could expect in the current circumstances. Who is eligible? director of a company already on payroll with […]

Self-Employment Income Support Scheme

Self-Employment Income Support Scheme

This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed. Who can apply? You can apply if you’re a self-employed individual or a member of a partnership and you: have […]

Furlough Worker Explained

Furlough Worker Explained

HMRC meaning If you and your employer both agree, your employer might be able to keep you on the payroll if they’re unable to operate or have no work for you to do because of coronavirus (COVID-19). This is known as being ‘on furlough’. Once you are on furlough you will not be able to […]

Remote Working – Some Practical Advice

Remote Working – Some Practical Advice

Remote working has been recommended by the Government in the UK to help control the Coronavirus outbreak. For some accountants this is nothing to worry about, they are familiar with working remotely and they have set up their practices accordingly. However, for some firms this is a totally new experience and something many have not […]