employees

Coronavirus Job Retention Scheme – CJRS

Update 14/09/2021 Furlough payments will end on the 30th September 2021. September claims should be submitted for payment before the 14th October. The reclaim rate will be 60% up to a maximum cap of £1,875 for the hours the employee is on furlough. Going forward, where you still envisage issues with work availability, you may find it necessary to consider …

Covid-19 Financial Update

Business Interruption Action Steps (BIAS) Update as at 13/09/2021 1. Coronavirus Job Retention Scheme Furlough payments will end on the 30th September 2021. September claims should be submitted for payment before the 14th October. The reclaim rate will be 60% up to a maximum cap of £1,875 for the hours the employee is on furlough. Going forward, where you still …

Super-Deduction on Capital Purchases

For expenditure incurred from 1 April 2021 until the end of March 2023, companies can claim 130% capital allowances on qualifying plant and machinery investments. Under the super-deduction, for every pound a company invests, their taxes are cut by up to 25p. The new Capital Allowances offer As a result of measures announced at this Budget, businesses will now benefit …

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 …

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 …