Insights

Here are the current business support measures issued by the government, including who is expected to be eligible for the reliefs. 

The UK Government has provided more financial stimulus in response to the current Coronavirus crisis than ever before.

When the government recently introduced the Coronavirus Business Interruption Loan Scheme (or CBILS), offering to guarantee 80% of loans made by banks, there was much hope that this would make a real difference for desperate businesses looking to survive through this crisis. 

MHA Larking Gowen do not provide employment law advice but we are able to share the attached template for a furlough letter which has been prepared in its entirety by Croner-i Business essentials and made available with their kind permission.

Over the past few weeks, we’ve seen the Chancellor unveil an unprecedented number of financial measures to support those impacted by the Coronavirus. 

Last week, Rishi Sunak announced that self-employed people in the UK will be able to claim support worth 80% of their average monthly profits, in an “unprecedented” move to cover the impact of Covid-19.

The COVID-19 pandemic has caused great unrest through the global economy and caused radical fluctuations in the value of business and other assets. Many taxpayers will own assets which have fallen in value, such as stocks and shares, and are now wondering how to react, if at all.

We’ve listed below a round-up of developments in COVID-19 support measures for charities and other news from the past few days.

MHA Larking Gowen is to welcome two new partners, John Atkins and Louise Dean, who will be based at our Norwich and Colchester offices.

Many of you will have read or heard of ‘The 7 Habits of Highly Effective People,’ an acclaimed personal development book written by the legendary Stephen R. Covey. It’s a masterpiece of timeless principles and insights on how to be, well, more effective!

Some of you may be wondering how the current crisis is affecting Probate. Here’s what we know. 

Government guidance suggests that if you’re the director of your own company you may benefit from the Job Retention Scheme (JRS) in relation to salary which is paid to you through PAYE.

Under the JRS, all UK employers will be able to access support to continue paying part of your employees’ salary for those employees that would otherwise have been laid off during this crisis and to avoid redundancies.

The Chancellor has finally unveiled his support package for the country’s 5 million self-employed. 

26 March 2020 – the Chancellor announced a new Self-Employment Income Support Scheme (SEISS) as a response to the Coronavirus outbreak. 

This is a very uncertain time for all of us. To support our clients and the wider business community through this difficult period, here are some things that you can do now to help.

Announcements on COVID-19 support measures have continued at a rapid pace. Our aim here is to summarise these announcements and let you know what’s changed.

Our Motor Dealership business continuity information series is all about managing the ramifications of the COVID-19 outbreak 

‘Cash is king!’ However profitable you are, without access to cash (either physical or in an online account), you won’t be able to pay your bills and your business will be in trouble. 

With the current pandemic impacting on cash flows, this is a timely reminder to all businesses that a tax relief exists that could really help you in these challenging times.

In these unprecedented times, cash flow is likely to become a hot topic and cause for concern for many. 

HMRC have issued new guidance on how the coronavirus will impact on the Statutory Residence Test (SRT). 

Employers are understandably attaching considerable importance to the Government’s announcement of support in the face of the COVID-19 crisis. 

If COVID-19 has affected your company and you need more time to file your accounts at Companies House, you can apply for an extension.

This guidance has been prepared to help reduce the impact that may be caused by your current payroll process being disrupted.

Our people and clients' health and safety are paramount, therefore, in accordance with government recommendations on implementing social distancing, we have taken the decision to close our offices to visitors. Our people will now be working from home and our offices will be closed from 5pm on Monday 23 March. 

The Government’s series of measures to support businesses in response to the COVID-19 pandemic is unprecedented. 

We know that charities working with some of our society’s most vulnerable people, are looking for the detail behind government announcements on COVID-19 support and, specifically, advice on accessing funds. To this end, we include below the most recent advice from Charity Tax Group (which MHA Larking Gowen is a member of). We particularly
recommend that charities look up the CTG information hub for latest updates.

During uncertain times it’s essential that business owners can keep track of their business’s financial performance in order to instil stability and minimise disruption.

There’s no doubt about it, the COVID-19 pandemic is deeply concerning for everyone. And it is everyone! Other than World Wars, it’s difficult to think of anything which has or ever will affect so many of us across the world simultaneously.