HM Treasury (HMT) has announced details of a new 100% Government-backed loan scheme for small businesses. Under the scheme, businesses will be able to borrow between £2,000 and £50,000 and access the cash within days. Loans will be interest free for the first 12 months, and businesses can apply online through a short and simple […]
To date we have not been advised of any Covid-19 related extension covering the reporting of Employment Related Securities, however, we will advise if this situation changes. Therefore, where an employee or Director has received shares or share options in their employing company in the tax year to 5 April 2020, these will, in most […]
67,000 claims were made within 30 minutes of its opening. By the end of the day, 140,000 companies had applied for the scheme. The online system should be able to process 450,000 each hour, with approved claims being distributed by BACS within six working days. Jim Harra, Head of HMRC has indicated that employers who […]
HM Revenue & Customs (HMRC) will no longer accept payment of inheritance tax (IHT) by cheque, and will not issue repayments by cheque any longer. The change in approach has been prompted by coronavirus but appears to be a permanent change. In order to receive a repayment, payee details must be sent to HMRC in […]
Whilst many property transactions may unexpectedly have been put on hold in recent weeks, UK resident individuals and trustees disposing of UK residential property need to be mindful of HMRC’s new reporting requirements. If any CGT is due on the disposal, it needs to be reported to HMRC and the CGT paid within 30 days […]
We can help you get ready to make a claim under the Coronavirus Job Retention Scheme. If you are eligible for the scheme, there are things that you should be doing now to be ready for when the system is up and running later this month. In order to make a claim, you will need […]
We have received a number of queries regarding R&D at the current time. The situation is obviously fast-changing, but HMRC have currently indicated: However, as we now know that the Coronavirus Business Interruption Loan Scheme (CBILS) is a State Aid, companies need to be aware of this when using the finance on their R&D projects […]
The Government has announced amendments to the Coronavirus Business Interruption Loan Scheme (CBILS) after claims that banks were forcing companies to provide personal guarantees, and is adding an option for larger companies. The Chancellor announced that the CBILS programme is being extended, so that all viable small businesses affected by COVID-19, not just those unable […]
We have a great deal of experience in assisting clients in securing funding, and are currently working hard to help businesses to access the various Government schemes. Please click here to read our summary of help available to you.
