Recovery Loan Scheme (RLS)

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 …

Covid-19 Financial Update

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 …

2021 Budget – What’s in store?

Chancellor Rishi Sunak presented his 2021 Budget on Wednesday 3rd March. We have briefly summarised the top headlines business owners and employees need to be aware of, this page will be changing with more updates so keep an eye on it: Companies – Furlough will be extended until end of September 2021. Still at 80% of salary. Businesses will be …

employees

Coronavirus Job Retention Scheme – CJRS

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’ …

Business Bounce Back Loan Scheme (BBLS)

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 …

Tax Review

YEAR END TAX REVIEW 2020-2021

Click here to download the full article >> Brace for more change The UK is now treated as a third country in relation to the EU, which means the VAT rules on imports and exports have changed for all goods (of any value) crossing the EU border and into Northern Ireland. Sales of digital services to non-business customers in the …