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Thousands of small firms and sole traders are eligible for 100% government-backed bounce back loans of between £2,000 and £50,000 to help them make it through the coronavirus outbreak.
The government is to make up to £617m available to local authorities in England to support small businesses faced with ongoing fixed property-related costs during the coronavirus pandemic, when they may have been forced to close or restrict their activity.
HMRC has begun contacting around 3.5m taxpayers who may be eligible for the government’s Self-Employment Income Support Scheme (SEISS) to explain the application process and help them get ready to make a claim when the service opens next week.
The government has unveiled a new £1.25bn package designed to ensure that early stage companies receive enough investment to remain viable during the coronavirus crisis.
The chancellor has announced a new Bounce Back loan scheme, allowing small businesses hit by the impact of coronavirus measures to apply for up £50,000, with the government guaranteeing 100% of the advance.
Thousands of better-off parents who opted out of receiving child benefit because they had to pay the high- income child benefit charge (HICBC) could now be eligible to claim, if they experience a drop in income due to the coronavirus emergency.
The "on the payroll" date for employees to be included in a claim for the Coronavirus Job Retention Scheme (CJRS) has been extended from 28 February to 19 March 2020, but there are further conditions to meet.
HMRC has published guidance on how it will work out total income and trading profits for the income support scheme, designed to provide help for the self-employed and members of partnerships who have lost profits due to coronavirus.
The Chancellor has outlined enhancements to earlier announcements on public services and business support, to provide an economic response to the current pandemic.
Many UK businesses are at risk of losing out on the coronavirus three-month VAT deferment if they do not act immediately.
In a relief to many small businesses, Ben Kerry from HM Treasury has clarified that company directors of owner managed businesses can ‘furlough’ themselves and claim grant under the Coronavirus Job Retention Scheme.
To fight the ongoing COVID-19 crisis, the government has introduced Small Business Grant Scheme Funding.
While the government announced measures to support the self-employed through the current crisis on 26 March 2020, it has made some changes to the support available through working tax credits and universal credit which will provide some help to the self-employed.
Self-employed and freelance workers finally received news of the government's coronavirus support package last evening, but the Chancellor's much-mooted bailout is set to make them wait until the beginning of June for the pay-out.
The temporary Coronavirus Business Interruption Loan Scheme supports small and medium-sized businesses with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years.
Support for retail, hospitality and leisure businesses that pay business rates was announced on 17th March 2020.
The Chancellor announced a package of measures to support public services, people and businesses through this period of disruption caused by COVID-19.
The government has announced plans to help homeowners, landlords and renters during these testing times.
An HMRC update has clarified that rules governing working from home expenses cover employees working from home due to COVID-19.
HMRC has published details of the specific helpline to contact, but it’s not known whether HMRC will change its usual approach to time to pay, for taxpayers who are having difficulty paying.
We set out some advice based on existing income tax and corporation tax rules.
The Government, on Saturday, 28 March 2020 announced that they are going to amend the insolvency laws to include a number of restructuring measures that will help companies to avoid insolvency.
The overall objective of this scheme is to keep people at home while enabling employers to retain staff who will be needed when they begin to rebuild their businesses in the future.
Under the government's proposals VAT payments due before 30 June 2020 will not now need to be made until the end of the tax year.