The Treasury’s generous package of support for businesses has been a lifeline to many. The latest round of government grants under the Self Employment Income Support Scheme opened on Monday to help those who’ve had their business and livelihood negatively impacted by coronavirus since 14 July. The Self Employment Income Support Scheme (SEISS) was announced […]
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The COVID-19 pandemic has seen many hail a huge shift towards digital and technological solutions, from our private lives to our businesses. While this trend is by no means born of the crisis, it has certainly been accelerated by it. Digital accounting solutions have been around for some time, and with the government’s Making Tax […]
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Since it was launched back in March, the Government’s Coronavirus Job Retention Scheme has saved over 9 million jobs. During the toughest moments of the pandemic, 1.2 million employers were able to make use of the furlough scheme and avoid mass redundancies. Employer contributions have started to increase and the government subsidy will slowly wind […]
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This morning the ONS confirmed expectations that the UK is officially in a recession. Its latest analysis of GDP has shown that the economy shrank by 20.4% in the three months to June – the largest quarterly drop on record and our first official recession since 2009. The effects of lockdown on the country’s economy […]
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Last month, as part of the Treasury’s COVID-19 economic recovery response, Rishi Sunak announced a reduction in VAT for hospitality and entertainment industries from 20% to just 5%. The changes came into effect on 15 July and apply to supplies of food, accommodation and admissions to attractions. The government has published its full list of […]
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Over four months ago the government-backed Coronavirus Business Interruption Loan Scheme (CBILS) was introduced. Since its launch, over 55,000 UK businesses have been approved for £12.2 billion in CBILS funding*. But whilst there’s been a massive uptake of the scheme, many businesses are still struggling to access the funds they need from their main business […]
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