As the outbreak of Coronavirus continues, there is much uncertainty on how it will impact the economy and business. To help provide stability during this time, we will continuallty update this page with news and articles to support and guide you.
If you are in need of any support from our partners, please don't hesitate to get in touch. You can find the contact details of our team here.
The latest updates
- The VAT deferral concession, announced in March, ended on 30 June. Any cancelled direct debits should be reinstated to ensure payments due after 30 June are made on time. Taxpayers that are late to submitting VAT returns or making payments will be subject to the surcharge regime, which can lead to a 15% surcharge. Read more about the deferral scheme in our recent article.
- The flexible furlough scheme starts today (1July), allowing you to bring previously furloughed employees back to work part-time – with the government continuing to pay 80% of wages for any of their normal hours they do not work up until the end of August. Read more here.
- The Local Authority Discretionary Grants Fund has been set up for small and micro businesses that are outside of the scope of other grants and loan schemes. The maximum grant is £25,000 and local councils have discretion about how to prioritise this funding. Read more here.