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
- Job Support Scheme. A new Job Support Scheme will be introduced from 1 November to protect viable jobs. The scheme will run for six months and the government will contribute towards the wages of employees who are working fewer than normal hours due to decreased demand. Read more here.
- Self-Employment Income Support Scheme. The scheme is open for claims until 19 October 2020. A recent announcement has also confirmed that this grant will be extended until 2021. Find out more here.
- Coronavirus Loan Schemes. All schemes have been extended until the end of November 2021 and a new pay as you grow plan will give businesses up to ten years to repay loans under the bounce back and Coronavirus Business Interruption Loan scheme. Read more here.
- The government has extended its 15% VAT cut for the hospitality and tourism sectors until the 31 March 2021. Read more here.
- VAT deferral terms have been made more generous. Businesses who deferred VAT payments which were due between 20 March 2020 and 30 June 2020 to 31 March 2021 will now be able to pay these in eleven interest-free instalments.
- Taxpayers who deferred their July 2020 Income Tax payments to 31 January 2021 will now be able to pay these over a twelve-month period. This applies to taxpayers with liabilities under self-assessment of up to £30,000.