Category Archives: Coronavirus News

Coronavirus Business Interruption Loan Scheme (CBILS)

  Rishi Sunak has taken further action to support firms affected by Coronavirus. He has revised the Coronavirus Business Interruption Loan Scheme (CBILS) and announced a new scheme for larger companies. The expanded CBILS will be offered by lenders from Friday 3 April 2020 and operational from Monday 6 April 2020. Friday, 3 April, Chancellor […]

Statutory Sick Pay Rebate Scheme

The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the current rate of SSP that they pay to current or former employees for periods of sickness starting on or after 13 March 2020. The employer who pays more than the current rate of SSP can only claim the current rate amount. The repayment will […]

VAT Payments Deferral: Coronavirus

    HMRC has announced temporary changes to the VAT payments due between 20 March 2020 and 30 June 2020 to help businesses manage their cash flow. Businesses that have been affected by the COVID-19 pandemic and are seeking to make use of the VAT deferral have been urged to cancel their direct debits ‘as […]

Covid-19: Support through Tax Credits & Universal Credit

The government has made some changes to the support available through working tax credits and universal credit which will provide some help to the self-employed. Increases in the standard rates The standard rate for universal credit and tax credits will both increase by £20 a week for one year from 6 April 2020. This increase […]

Coronavirus Support Package for Self-Employed

Struggling self-employed people will have to wait for the Government to come up with a “deliverable and fair” coronavirus support package, Chancellor Rishi Sunak has said. Boris Johnson’s Government has come under sustained pressure to provide financial help for self-employed workers, who face a dramatic loss of income if forced to take time off for […]

Self-Employment Income Support Scheme: Claim a grant

You can claim a grant through the coronavirus (COVID-19) Self-employment Income Support Scheme. Use this scheme if you’re self-employed or a member of a partnership and have lost income due to coronavirus. This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per […]

Coronavirus Wage Bailout Fund

  Chancellor Rishi Sunak has announced an extraordinary Coronavirus wage bailout fund to support UK workers hit by Coronavirus crisis. The government will pay up to 80%, or £2,500, of the salaries of British workers affected by Covid-19 in a major wage bailout. Mr Sunak stated in a speech: “Employers will be able to contact […]