The Chancellor, Rishi Sunak has today (27 April 2020) made a statement to the House of Commons on the government’s economic response to the Coronavirus outbreak. The Chancellor confirmed that the Office of Budget Responsibility (OBR) has said
Under normal trading conditions – pre-COVID-19 disruption – every time we sell our goods or services each sale requires that we cover three categories: The direct costs of the sale (for example, the raw materials purchased to produce
The Government has launched a raft of grants and loan guarantee arrangements since the COVID-19 lock-down started last month. In almost all cases the grants are taxable and non-repayable, unless HMRC at some future date consider that the grants were
If you had a student loan and have finished your studies and entered the workforce you must begin to make loan repayments from the April after you have finished your studies or when your income begins to exceed the annual threshold. The annual
The scope of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) was expanded by the Chancellor ahead of the scheme launch on 20 April 2020. The scheme enables banks to make loans to firms with an annual turnover of over £45
The government has announced that more than 1,000 fishing and aquaculture businesses in England will receive direct cash grants through a new fisheries support scheme. The scheme will make available grants of up to £9 million for eligible
The Coronavirus Job Retention Scheme that allows employers to claim cash grants of up to 80% of wages (capped at £2,500) for furloughed workers was officially launched at 8am on 20 April 2020. By midnight at the end of the first day, HMRC
The government has announced a new £1.25bn scheme to help innovative firms survive the coronavirus pandemic. The package is made up of: £500 million investment fund for high-growth companies impacted by the crisis, made up of funding
HMRC has released the latest bi-monthly issue of the 'Agent Update' publication which includes summaries of recent changes and updates that have been announced. The document, which is aimed at taxation and accountancy practitioners, includes
Companies House has confirmed that businesses will be provided with additional support to help them meet their legal responsibilities in light of the COVID-19 outbreak. The measures include the following: Companies House will temporarily pause
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