Latest Business News

HM Revenue & Customs publishes Job Retention Bonus guidance

HM Revenue & Customs (HMRC) has published guidance setting out how the Job Retention Bonus will operate. The Job Retention Bonus was announced by the Chancellor at the Summer Economic Update on 8 July 2020 and will provide employers with a one-off payment of £1,000 for each previously furloughed employee continuously employed to 31 January…

Coronavirus Business Interruption Loan Scheme expanded to more businesses

Following a change in EU state aid rules, the Government has announced that it will expand the Coronavirus Business Interruption Loan Scheme (CBILS) to certain businesses classed as “undertakings in difficulty” – those with large losses and debts. The UK remains subject to EU state aid rules during the Brexit transition period. The change means…

Future Fund expanded to more businesses

The Government has announced that the Future Fund – the support scheme for early-stage, high-growth firms – will be expanded so that more firms can benefit. The scheme, which was announced by the Chancellor in April, offers Government loans ranging from £125,000 up to £5 million to high-growth start-ups that can attract equal match funding…

Government confirms Coronavirus tax concessions in amended Finance Bill

The Finance Bill 2020 has now reached the report stage in Parliament. In response to the impact that COVID-19 has had on the country, the Government has confirmed several temporary tax concessions. To help you make sense of these changes we have prepared a useful summary: Taxation of Coronavirus support payments The Government has confirmed…

Seven tips to get start-ups off the ground

Out of the doom and gloom of the pandemic, new businesses are sprouting up – many built around successful concepts launched and developed during lockdown. Launching a business can be daunting and risky, to help, we have prepared seven tips that all start-ups can follow: Conduct research You must undertake thorough market research to ensure…

Government confirms that furlough rules do not leave employers at risk of breaching minimum wage rules

The Government has confirmed in its guidance for the operation of the Coronavirus Job Retention Scheme (CJRS) that employers will not be at risk of breaching minimum wage rules where they opt not to top-up the wages of furloughed employees. The CJRS was announced by the Chancellor shortly before the Stay at Home rules came…

Accessing the Coronavirus Job Retention Scheme

With substantial restrictions for everyone on the circumstances in which we can leave our homes, and many businesses being forced to close, the Chancellor has announced a scheme to reimburse up to 80 per cent of the cost of the wages of ‘furloughed workers’. What is a ‘furloughed worker’? Anyone designated as a ‘furloughed worker’…

Kirk Newsholme Here to Help: Essential business preparations for COVID-19

The UK is seeing an unprecedented amount of disruption due to the current coronavirus outbreak and in response the Chancellor has announced a number of measures to help businesses deal with this crisis. Understandably, business owners will be concerned during these difficult times, but they must take practical steps now to help protect themselves, their…