HLAS

Last night’s announcement was the one most were waiting for, but we are aware there are still many unanswered questions. We would like to thank you for your patience on answers which simply do not exist or have not been decided yet. We have done a summary below of last nights briefing. Yesterday the government announced that millions of self-employed individuals will benefit from a ground-breaking UK-wide scheme to help them during the coronavirus outbreak via direct cash grant of 80% of their profits, up to £2,500 per month. In the latest step to protect individuals and businesses, Rishi Sunak [...]

Update on Furlough Leave with worked example. Written 26/03/2020 as an adaptation from ICAEW interpretation of HMRC guidance. Furloughed members of staff must not work for the employer during the period of furlough. Furlough is from 1 March 2020, so is to be backdated. It will last for at least 3 months and will be extended if necessary. Note that while the scheme is backdated to the beginning of March as it is intended to support all those employed then, a firm will only be eligible to claim the grant once they have agreed the furlough with their staff and [...]

  THE CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME (CBILS) IS NOW AVAILABLE THROUGH PARTICIPATING LENDERS   Written 23 March 2020   INTRODUCTION CBILS is a new scheme, announced by The Chancellor at Budget 2020, that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. CBILS supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance. The scheme provides the lender with a government-backed guarantee potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’. [...]

See below information regarding furlough leave for staff.

Firstly, we would like to reassure all our clients that the high level of service we provide will be maintained throughout these uncertain times. In accordance with the government’s orders, it is with a heavy heart we have decided to close the office itself but all team members are still working from home and will be contactable via email. Calls have also been placed on divert so we are still able to offer the same outstanding client service that we always have - please call (01482) 646440 If you would like direct Contact with Richard Lacey and Richard Tucker their [...]

An article on the rates relief available as announced in the Spring Budget 2020 and extended version for the impact of COVID-19.

Listed below government websites where you can access the latest information. Government action plan: https://www.gov.uk/government/publications/coronavirus-action-plan   Guidance on social distancing and stay at home: https://www.gov.uk/government/topical-events/coronavirus-covid-19-uk-government-response   Travel advice: https://www.gov.uk/guidance/travel-advice-novel-coronavirus   Support for businesses: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses   Tax helpline to support businesses who are concerned about paying their taxes: https://www.gov.uk/government/news/tax-helpline-to-support-businesses-affected-by-coronavirus-covid-19   Guide for employees, employers and businesses: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19   Budget 2020: tax-related documents: https://www.gov.uk/government/collections/budget-2020-tax-related-documents   NHS Coronavirus (COVID-19): https://www.nhs.uk/conditions/coronavirus-covid-19/

Coronavirus: What does your business need to know? By Andrew Jackson Solicitors LLP | Published on 27th March 2020 As the coronavirus outbreak in the UK continues to escalate, we are now receiving an ever increasing number of enquiries from clients, particularly around employer obligations and contracts. This is a fluid and fast-moving situation and the Government is providing daily briefings to the nation dealing with a number of different issues arising from the outbreak. In response to the constantly changing legal landscape, we have updated the following q&as*, which address some of the key issues as they currently stand, [...]