BCC survey suggests firms ready for gradual reopening of UK economy
The latest Coronavirus Business Impact Tracker survey carried out by the British Chambers of Commerce (BCC) has suggested that UK businesses are ready for a gradual reopening of the UK economy and will ’embrace the new normal’. According to the BCC, the vast majority of survey respondents reported high levels of readiness to restart operations […]
Loan size increased to £200 million under large business interruption scheme
The government is extending the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200 million. The loans will be made available to large businesses affected by the coronavirus (COVID-19) from 26 May. However, companies borrowing more than £50 million through the CLBILS will be subject to restrictions on […]
Government set to launch Coronavirus Statutory Sick Pay Rebate Scheme
The government is set to launch an online service to allow employers to recover the Statutory Sick Pay (SSP) payments they have made to their employees during the coronavirus (COVID-19) pandemic. The Coronavirus Statutory Sick Pay Rebate Scheme, which was announced at the 2020 Budget as part of a package of support measures for businesses […]
Future Fund launches to give start-ups coronavirus support
The government has launched its Future Fund package, which aims to support start-up businesses not eligible for other coronavirus (COVID-19) rescue measures. The Future Fund offers government loans of between £125,000 and £5 million to UK-incorporated companies, provided private investors at least match the funding supplied by the state. The package is aimed at innovative […]
IPSE urges government to extend self-employed support scheme
The government is being urged to extend its coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) for as long as self-employed individuals require it. The Association of Independent Professionals and the Self-Employed (IPSE) said that the difference between the SEISS and the Coronavirus Job Retention Scheme (CJRS) for employees is a ‘glaring injustice’. It warned that […]
Survey suggests one in ten firms cannot implement coronavirus guidance safely
A survey carried out by the British Chambers of Commerce (BCC) has suggested that one in ten UK businesses feel they cannot implement government coronavirus (COVID-19) guidance safely. Results from the BCC’s latest Coronavirus Business Impact Tracker revealed that 83% of businesses polled know some or a lot of details about government guidance on working […]
Government publishes revised Coronavirus Job Retention Scheme legislation
The government recently published revised legislation on the Coronavirus Job Retention Scheme (CJRS). On 22 May, Chancellor Rishi Sunak altered CJRS legislation to reflect the extension of the scheme. On 12 May, the Chancellor announced an extension to the CJRS until the end of October and confirmed that employees will continue to receive 80% of […]
Coronavirus Statutory Sick Pay Rebate Scheme goes live
On 26 May, HMRC opened up its Statutory Sick Pay (SSP) rebate claim service. Eligible employers are able to recoup up to two weeks’ worth of SSP payments made to employees off work for coronavirus (COVID-19)-related reasons since 13 March 2020 (16 March 2020 if the employee was shielding). This is an ongoing scheme for […]
Research shows 5.2 million people have fallen victim to scams during coronavirus crisis
Research carried out by insurer Canada Life has revealed that 5.2 million people in the UK have fallen victim to scams during the coronavirus (COVID-19) pandemic. Canada Life’s research showed that the most common financial scams are banking scams, followed by insurance scams and pensions scams. Victims lost an average of £566 per scam, the […]
IPSE gives cautious welcome to extension of self-employed scheme
The government’s decision to extend COVID-19 support for self-employed workers has met with a cautious welcome from the Association of Independent Professionals and the Self-Employed (IPSE). Chancellor Rishi Sunak has announced that the Self-Employment Income Support Scheme (SEISS) will run again in August. In August, those eligible under the SEISS will be able to claim […]