Government extends Coronavirus Business Interruption Loan Scheme to all SMEs
More than £90 million in finance has been approved since the launch of the Coronavirus Business Interruption Loan Scheme (CBILS), it has been revealed.
More than £90 million in finance has been approved since the launch of the Coronavirus Business Interruption Loan Scheme (CBILS), it has been revealed.
The Government has announced that it will cover employer National Insurance Contributions (NICs) and pension contributions of furloughed workers.
Small to medium-sized businesses in the UK are now able to apply for finance via the Coronavirus Business Interruption Loan Scheme (CBILS) to help them deal with the operating costs of their business and to assist with maintaining cashflow.
Businesses affected by the COVID-19 pandemic are being urged to request a Companies House filing extension before the deadline.
Following the Government’s announcement that businesses will be able to defer VAT payments for the period from April – June, HM Revenue & Customs (HMRC) has now confirmed that businesses should cancel direct debits for VAT if they want to utilise the deferment offer.
The Enterprise Finance Guarantee (EFG) supports small businesses by providing finance to smaller businesses that cannot obtain finance from their lender because of insufficient security. The British Business Bank has now announced that a number of eligibility restrictions are in place because of the European Union’s (EU) state aid rules.
The Government has announced that the IR35 tax reforms which were due to be implemented in April 2020 have been delayed for a year due to the ongoing coronavirus outbreak.
With the payroll year-end fast approaching, you must ensure that your business is complying with the necessary payroll obligations.
On Wednesday 11 March, the Chancellor revealed that the Government would launch an emergency loan scheme designed to support businesses affected by the Covid-19 outbreak.
The Chancellor, Rishi Sunak, announced in yesterday’s Budget that entrepreneurs’ relief (ER) will be cut from £10 million to £1 million, effective immediately.
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