As of the 1st July, 2020 the furlough scheme is to change to allow flexible furloughing. This will mean that employers can bring staff back on a flexible, part time basis. So far the furlough scheme has helped protect more than 9.3 million jobs during the coronavirus pandemic, with companies claiming over £25.5 billion for … Read more Flexible Furlough
The FCA (Financial Conduct Authority) are seeking legal clarity on business interruption insurance during the coronavirus (COVID-19) crisis. The coronavirus pandemic has led to widespread disruption and business closures resulting in substantial financial loss. Many customers have made claims for these losses under their BI insurance policies. There has been widespread concern about the lack … Read more Business interruption insurance
It has been announced that the Chancellor Rishi Sunak has plans to extend the Self-Employment Income Support Scheme. This will mean that traders and the self-employed will be able to make a second claim if their business continues to be affected by COVID-19. The second claim will be made in August and will be a … Read more Self-Employment Income Support Scheme
The current furlough scheme is being updated to enable flexible furloughing. From 1 July 2020, you’ll have the flexibility 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. This flexibility … Read more Furlough Scheme Changes
The Large Business Interruption Loan Scheme which has been put in place to offer support to larger businesses affected by coronavirus. The scheme will help medium to large sized businesses to access loans or finance up to £200 million. The government will guarantee 80% of the finance to the lender. Who can apply? The eligibility … Read more Large Business Interruption Loan Scheme
After recent Government announcements some businesses are considering the return to work for certain employees. The guidance though is clear, employers must complete a COVID-19 Risk Assessment and display a notice when they have done so. The aim of the COVID-19 Risk Assessments is to ensure the businesses have the relevant practices in place to … Read more COVID-19 Risk Assessment
The coronavirus Statutory Sick Pay Scheme is due to launch on the 26th May, 2020. This scheme will enable employers with fewer than 250 employees to claim coronavirus- related Statutory Sick Pay. Eligibility criteria for the online scheme is as folloes: you’re claiming for an employee who’s eligible for sick pay due to coronavirus the … Read more Coronavirus Statutory Sick Pay
The Chancellor has today announced the Furlough scheme will be extended until the end of October 2020. In a boost to millions of jobs and businesses, Rishi Sunak said the furlough scheme would be extended by a further four months with workers continuing to receive 80% of their current salary. From the start of August, … Read more Furlough Scheme Extended
The Self-Employment Income Support Scheme is due to be active on the 13th May 2020 but how are HMRC calculating the amounts and what if you are not eligible? The scheme will enable the self employed to claim a taxable grant of 80% of their monthly trading profits. This will be paid in a single … Read more Self-Employment Income Support Scheme
HMRC have now issued further guidance for the government’s Self-Employed Income Support Scheme which will open ahead of schedule on the 13th May, 2020. The scheme will benefit self-employed individuals or those in a partnership whose business has been adversely affected by coronavirus, covering most people who get at least half of their income from self-employment. SEISS is a temporary scheme that will … Read more Self-Employment Income Support Scheme
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