HMRC has issued guidance on how SEISS is meant to work from 13 May onwards, which is available at: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#claim It is worth taking a look at the guidance to take comfort that you will be able to qualify, however, the following summary might help you in the interim.
Read more →Bounce Back Loan scheme goes live Last week we highlighted the new Bounce Back Loans introduced by the Chancellor which will enable small and medium-sized businesses to borrow between £2,000 and £50,000, and as of this morning [4 May], the scheme went live. The full guidance, including
Read more →The introduction of Making Tax Digital may seem like a distant memory, but the beginning of April 2020 was set to mark the end of HMRC’s soft landing period, which had provided a ‘light touch’ to non-compliance with the new rules. Yet due to the present-day pressures
Read more →Yesterday morning [Monday 27 April] saw the Chancellor announce a Bounce Back Loans scheme for SMEs. This will enable such businesses to benefit from a new fast-track finance initiative that will provide loans with a 100% Government-backed guarantee for lenders. HMRC’s official guidance can be found here,
Read more →CJRS: In general It’s been a busy week since HMRC opened its CJRS portal on Monday morning and we began making the first of our clients’ furlough claims. Overall, the portal seems to be coping with the sheer volume of claims being made nationally. Official figures state
Read more →The most common misconception about Research and Development (R&D) Tax Relief is that it’s only available to lab coat companies and software houses, but this couldn’t be further from the truth. R&D Tax Relief is available to all limited companies that seek to achieve an advance in
Read more →HMRC has issued an update on just how it intends to calculate your eligibility for the Self-Employment Income Support Scheme (SEISS) grant. Whilst the claim service is not yet available, HRMC aims to contact you by mid-May 2020 and make payment by early June 2020. It will
Read more →HMRC has now issued detailed guidance on how a business may make a Coronavirus Job Retention Scheme (CJRS) grant claim. The online claim service will be launched on GOV.UK on Monday 20 April 2020. HMRC has advised that you should not try to access the claim portal
Read more →With much confusion around the CBILS, we spoke with a trusted contact of ours from one of the leading high street banks to gather their insight and practical pointers. Here’s what we learnt: Lending decisions The starting point for a lender in terms of assessing whether to
Read more →Gradually, we are seeing further information and guidance being released by Government which is helping to answer our clients’ questions and provide more clarity and certainty around the raft of economic reliefs and financial support made available due to COVID-19. Coronavirus Job Retention Scheme (CJRS) The full
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