Month: May 2020

Coronavirus Economic Recovery Package to come…

During his appearance at the recent Liaison Committee, Prime Minister Boris Johnson confirmed that a Coronavirus Economic Recovery Package would be brought to Parliament before the summer recess. This is due to begin on the 21st July, so we should expect some key announcements to come. Concern is high that the economic recovery following Coronavirus […]

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Furlough Scheme updates to come…

Back on the 12th May, Rishi Sunak announced that changes were to be made to the Coronavirus Job Retention Scheme, or Furlough Scheme. There are currently 8 million people receiving 80% of their salary from the Government, a quarter of the total jobs in the UK. Those changes included the following: The Scheme has been […]

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Bounce Bank Loans Status Update

As of the 24th May, Government figures have shown Bounce Back Loans (BBLS) have accounted for £18.49bn of lending to 608,069 borrowers, from 769,137 applications. That’s an approval rate of 79%. There are some very interesting statistics around the scheme: BBLS lending in the first week of the scheme exceeded the total CBILS lending from inception to […]

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Employees can claim from HMRC while working from home

With so many of us working from home over the last few weeks, it’s only a matter of time before Employees start to ask whether they can reclaim any increased costs of doing so! Thankfully HMRC have provided an answer; employees can claim a flat rate of £6 per week. Historically, such a claim could […]

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Bounce Back Loans – Handle with care!

Bounce Back Loans have been the saving of many small businesses over the last few weeks. They are super-easy to apply for, in most cases have dropped into bank accounts within a few days and there have been few businesses whose application has been declined. So what’s the problem with them? In the right hands, […]

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Coronavirus Statutory Sick Pay Rebate Scheme

Effective from the 26th May 2020, employers with less than 250 employees will be able to recover Statutory Sick Pay (SSP) payments they’ve made as a result of Coronavirus. The Coronavirus Statutory Sick Pay Rebate Scheme was announced as part of the Budget on March 11th. Payments of SSP made to former or current employees […]

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