Summer statement
As the impact of Coronavirus continues to affect the economy, Chancellor Rishi Sunak announced a number of measures in the house of Commons on 8 July 2020 which are summarised…
Blog Posts
Chancellor announces changes to Job Retention Scheme
Chancellor Rishi Sunak has announced changes to the government’s Coronavirus Job Retention Scheme (JRS), which will be slowly wound down between July and October. The changes mean businesses will be…
COVID-19: delay to VAT reverse charge on construction services
On 5 June 2020, HMRC announced a five-month delay to the introduction of the domestic VAT reverse charge for construction services, due to the impact of the COVID-19 pandemic on…
Loan size increased to £200 million under large business interruption scheme
Several changes to the CLBILS scheme have taken effect from 26 May. The government has extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS)…
Future Fund launches to give start-ups coronavirus support
On 20 May 2020, the government launched its Future Fund package, which aims to support start-up businesses not eligible for other COVID-19 rescue measures. The Future Fund offers government loans…
Coronavirus Statutory Sick Pay Rebate Scheme goes live
On 26 May 2020, 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…
Changes to insolvency and company law going through Parliament
The government is making changes to insolvency and company law as a result of the COVID-19 pandemic. The Corporate Insolvency and Governance Bill outlines that struggling companies will be given…
UK sets out post-Brexit tariff regime
The UK government published its plans for a new import tariff regime following the end of the Brexit transition period. Following its departure from the EU, the UK has the…
MPs open inquiry into £155 billion of tax reliefs
The Public Accounts Committee (PAC) has opened an inquiry into the UK’s management of £155 billion of tax relief. The inquiry follows the February publication of a National Audit Office…
Lenders relax evidence requirements for business interruption loan scheme
On 27 April 2020 the UK’s seven largest small business lenders announced they had relaxed their evidence requirements for applications to the Coronavirus Business Interruption Loan Scheme (CBILS). The lenders…
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