AEL Markhams Blog

The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice, if your business has up to 500 employees and no more than £100 million annual turnover. Applications will close on 30 June 2021 or earlier if all funding is allocated before this date. What you’ll be able to use the grant for …

CBILS and BBL are no longer open for applications – RLS replaces these two facilities. The scheme covers term loans, invoice finance, asset finance and overdrafts. Businesses can borrow up to £10 million, but there’s no interest or fee-free period. The government guarantees 80% of the debt and there’s no turnover or trading history requirements. Personal guarantees aren’t needed for …

Business Interruption Action Steps (BIAS) Update as at 14/04/2021 1. Business Bounce Back and CBILS Loan CLOSED – RECOVERY LOAN SCHEME NOW OPEN The Recovery Loan Scheme (RLS) replaced the government’s CBILS and Bounce Back programmes on Tuesday 6 April. 2. Recovery Loan Scheme (RLS) The scheme covers term loans, invoice finance, asset finance and overdrafts. Businesses can borrow up …

What is the IR35? IR35 is a set of rules that make sure workers, who would have been an employee if they were providing their services directly to the client, pay broadly the same Income Tax and National Insurance contributions as employees. The client is the organisation who is or will be receiving the services of a contractor. How the …

Set up an 11 month payment plan to pay historically deferred VAT due to Covid-19 – This service will close on 21 June 2021 If you deferred VAT between 20 March 2020 and 30 June 2020 and still have payments to make, you can: Pay the deferred VAT in full on or before 31 March 2021 or, Opt in to …

UPDATE – 3rd March 2021 The fourth SEISS grant The grant will be available to claim from late April 2021. As with previous grants, trading profits must be no more than £50,000 and at least equal to non-trading income in order to claim the fourth SEISS grant. Eligibility for the fourth SEISS grant will also depend on whether your business …

Update 03/03/2021 The Coronavirus Job Retention Scheme (CJRS) has been extended until the end of September 2021. The UK Government will continue to pay 80% of employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, up to the end of June 2021. For periods in July, CJRS grants will cover 70% of employees’ …

CLOSED – RECOVER LOAN SCHEME NOW OPEN Application deadlines for Government Loan Schemes are extended until the end of March 2021. Bounce Back Loans can be extended from 6 to 10 years. Interest-only periods of up to 6 months and payment holidays will also be available. Coronavirus Bounce Back Loan – Open 4th May 2020 The Bounce Back Loan scheme …