Why a grant is preferable to a loan
The Government has launched a raft of grants and loan guarantee arrangements since the COVID-19 lock-down started last month.
In almost all cases the grants are taxable and
Change to CLBILS for larger concerns
The scope of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) was expanded by the Chancellor ahead of the scheme launch on 20 April 2020. The scheme enables banks
Coronavirus Job Retention Scheme extended
The Chancellor of the Exchequer, Rishi Sunak, has announced today (17 April 2020) that the Coronavirus Job Retention Scheme is to be extended by one month until the end of June.
Coronavirus Job Retention Scheme update
The government has confirmed a number of important of announcements regarding the eligibility requirements for using the Coronavirus Job Retention Scheme and the opening of the
What is overtrading?
Once the present lock-down is eased, those businesses that have manged to weather the disruption will be eager to start selling.
Sales will be the indicator that receives the most
Cost v investment?
There is a temptation to treat expenditure as a cost. The Cambridge Online dictionary defines cost as:
“The amount of money needed to buy, do, or make something”
What
Employees that can be furloughed
As we have written about previously, the Coronavirus Job Retention Scheme (CJRS) provides significant government support to allow employers to furlough employees and apply for a
Coronavirus Job Retention Scheme – update for directors
HMRC’s guidance on the Coronavirus Job Retention Scheme has recently been updated. HMRC will reimburse 80% of furloughed workers' wage costs, capped at £2,500 per
CJRS – how to treat employees
The Coronavirus Job Retention Scheme (CJRS) allows UK employers to access government support to help retain staff that they would otherwise may have considered laying-off, reducing
National Minimum Wage and training time
An interesting quirk of the Coronavirus Job Retention Scheme is that furloughed workers are not entitled to the minimum wage. HMRC's guidance categorically states that