Recovery Loan Scheme: your FAQs answered

High Street

We were keenly watching the Budget to see what further funding support would be made available to businesses. As anticipated, Sunak announced a new loan scheme, the Recovery Loan Scheme, to replace the existing support.  From 6 April 2021, the Recovery Loan Scheme will provide lenders with a guarantee of 80% on eligible loans between […]

Lockdown 3.0 – what support is available for business?

2021 didn’t quite start out as most of us had hoped, with the country going back into a national lockdown just four days into the start of the New Year. Whilst it’s no longer a case of navigating unchartered territory, many businesses are still facing the same challenges due to reduced demand or enforced closure during another lockdown.   So, what support is available to […]

How do I repay the VAT I deferred because of COVID?

Card Payment

The option to defer VAT payments between 20 March and 30 June last year was welcomed by many businesses as it freed up much-needed cash for them during the lockdown. In order to take advantage of this scheme, businesses either didn’t make the payment or they cancelled their direct debit to prevent the payment being taken automatically.   […]

What were the key announcements from the Winter Economy Plan?

Rishi Sunak graced TV, computer, and phone screens across the nation at midday yesterday to announce ongoing support measures after calls to extend the furlough scheme. According to the Chancellor, the primary goal is still to support jobs but the way to achieve this must change from the measures we have seen and relied on […]

CJRS and SEISS: how to correct an over claimed grant

HMRC Business Tax Account

Unsurprisingly, HMRC has announced how they will be cracking down on fraudulent grant claims. Due to the speed and urgency that claims were made and issued, there are likely to be a number of innocently miscalculated grants and HMRC is requesting that businesses double-check their calculations and notify HMRC within 90 days of receiving any […]

The roadmap to recovery: six proactive steps for business owners to take now

Over the past couple of years, we’ve been focusing on providing our clients with information on support schemes to keep their businesses afloat. However, we’re now living in a post-pandemic world and that brings with it new challenges and new opportunities.  Many businesses are still in ‘recovery’, so we’ve come up with six proactive steps […]

What were the key announcements from the Summer Economic Update?

Yesterday, Chancellor Rishi Sunak delivered his Summer Economic Update and laid out the next steps in the roadmap to rebuilding the UK economy and spur job creation. The key updates from the ‘Plan for Jobs’ package are: Job Retention Bonus: To prevent unemployment, the Government is introducing the Job Retention Bonus. If employers bring workers […]

Green grants: how you can access funding to fuel a sustainable recovery

As the country starts to reopen, the government is prioritising a green recovery by encouraging further investment into clean innovation and green technology.   Over the past few weeks, various grants and competitions, such as the Sustainable Innovation Fund and the Driving the Electric Revolution Challenge have been announced to provide funding to businesses that are putting sustainable […]

Coronavirus Job Retention Scheme: flexible furloughing explained

After four months of financial support in the form of the Coronavirus Job Retention Scheme (CJRS), the government is introducing flexible furloughing from 1 July 2020. This will allow employers to bring employees back to work gradually as demand increases and UK businesses start to reopen. Key Changes: The flexible furlough scheme (FFS) is not […]