Spring Budget 2021 – CJRS and SEISS schemes extended
The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme will be extended until the 30 September 2021. The Chancellor confirmed that employees will receive
Spring Budget 2021 – Government backed loan schemes
The deadline for applications for all the government-backed loan schemes including the Bounce Back Loan scheme, Coronavirus Business Interruption Loans and the Future Fund ends on
Capital or debt?
What is the difference between capital and debt, and why is the distinction important?
One important distinction is that capital represents the amount of funds introduced by
Claiming Self-Employed Income Support Scheme grants
Under the third Self-Employed Income Support Scheme (SEISS) grant, claimants received up to 80% of average trading profits for November and December 2020, and January 2021. This
Emerging from lockdown
The Prime Minister has set out the government’s objectives for easing lockdown restrictions.
If the planned opening of schools, social interactions and businesses is achieved
What is overtrading?
A reminder that traders who buy and sell goods – wholesalers or retailers – need to be wary of the financial consequences if, as expected, pent up consumer activity leads to a
How much do your customers owe you?
Many business owners are buoyed by turnover; if it’s sold it’s as good as money in the bank, but is it?
What are your credit terms? How many days do you allow your customers to
Financial outcomes for your business
There are three possible financial outcomes for your business, each with their own challenges:
Make a profit
Breakeven, or
Make a loss
Making a profit
Clearly, this will be
Present criteria for claiming via the furlough scheme
The detailed Furlough Scheme rules were last updated 4 February 2021.
People who are unable to work can receive up to 80% of their wages. This payment is subject to a monthly
Self-Employment Income Support Scheme
Claims for the third Self-Employed Income Support Scheme (SEISS) grant closed on 29 January 2021. Under this grant, the self-employed received up to 80% of average trading profits