Draft legislation implements requirement for “mandatory independent scrutiny” of pre-pack administration sales
New legislation will require independent scrutiny of pre-pack sales where connected parties are involved, it has been announced.
SMEs
Small businesses handed £7.8 billion through local authority grant schemes, figures reveal
More than £7.8 billion in grant funding has been delivered to small businesses through local authority grant schemes, it has been revealed.
Businesses to have access to free service to help resolve disputes with banks
Small and medium-sized enterprises (SMEs) will have access to a new independent service to assist in resolving disputes with banks.
Pub industry calls for reopening of the sector as sales halve
Prominent figures within the beer and pub industry are calling upon the Government to reopen pubs with non-essential shops when lockdown ends, as they are an indispensable contributor to the economy.
One in five small businesses not entitled to financial support, FSB reveals
As many as one in five small businesses and sole traders are not entitled to financial support under the Government’s coronavirus support package, it has been revealed.
Government urged to extend COVID business support measures
The Government is being urged to extend emergency coronavirus support in the upcoming Budget with a recent study warning that businesses face a £50 billion shortfall when the support measures end in April 2021.
Business owners put billions of pounds on the line to secure early CBILS loans, figures reveal
Business owners who took out an early coronavirus loan have more than £1.2 billion of personal guarantees on the line, a major study has revealed.
Insolvency: 900,000 UK businesses are ‘at risk’ of closure
One in seven UK businesses are ‘at risk’ of closure in the first half of 2021 with many coronavirus business support measures due to close in March and April, according to the latest research.
CJRS: Annually paid directors may now be eligible for furlough claims
Small company directors that were not able to claim under the Coronavirus Job Retention Scheme (CJRS) because they paid themselves an annual salary in March 2020 may now be eligible to claim under the scheme.
Late payments: Large businesses to pay small firms within 30 days under Prompt Payment Code
The Government has confirmed that large businesses that have signed up to the Prompt Payment Code (PPC) must pay small businesses within 30 days.