What is solvency?
During periods when demand for your goods and services drop – for example, if your business has been closed down or adversely affected by the recent COVID-19 outbreak –
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
Coronavirus Statutory Sick Pay Rebate Scheme
Small-and medium-sized businesses and employers can reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. You are eligible for the scheme if your business is
Self-employed COVID-19 support
If you are self-employed and qualify for the Self-employment Income Support Scheme you will receive a cash grant from HMRC based on 80% of profits, capped at £2,500 per
Commercial tenants protected from evictions
The government has confirmed that there will be an eviction freeze for commercial tenants who miss rent payments as a result of the Coronavirus crisis. The protection for
Coronavirus Large Business Interruption Loan Scheme
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) will be made available to enable banks to make loans of up to £25m (the present limit for the smaller scheme
Changes announced to Coronavirus Business Interruption Loan Scheme (CBILS)
Many small businesses that have applied for a government backed CBILS loan thus far have been offered standard overdrafts and loans – without the Government's 80%
Converting assets into cash in the bank
During and after any period when economic activity is depressed, companies that survive the process are those that manage their cashflow effectively.
A number of businesses will