An insight from the gbac team on all things accounting, finance and more.
The Bounce Back loan scheme which is set to launch on Monday 4th May 2020 is aimed to help small and medium-sized businesses to borrow between £2,000 and £50,000. It has been announced that the Government will guarantee 100% of the loan with no fees, interest or repayments due during the first 12 months. Terms […]
HMRC have confirmed that the online service for claiming funding for furloughed employees under the Coronavirus Job Retention Scheme is due to be launched on 20 April 2020 Making a claim Applicants will be able access the system using their current government gateway login. The following information will be required to make a claim: The […]
VAT The VAT deferral payment applies from 20 March until 30 June 2020 All UK businesses are eligible including non-established businesses registered for VAT in the UK This will generally mean the deferral of one quarter’s VAT: the payment due on 7 April, 7 May or 7 June 2020 or the monthly payments due on […]
On the evening of March 26th 2020, the Government released further information on how a claim for wages costs through the scheme can be made. Full details of the guidance which has been published can be found on the GOV.uk website, link below. https://www.gov.uk/guidance/cl… As always, please do not hesitate to get in touch with […]
“Coronavirus Job Retention Scheme” HMRC grant available to cover 80% of wages for retained workers up to £2,500 per month per employee The scheme will be back dated to 1st March 2020 and available for 3 months, to be extended over a longer period, if necessary The grant is available to ALL companies, large or […]
During the 2020 Budget which was held last week, the Chancellor announced that a ‘Coronavirus Business Interruption Loan Scheme’ would be available ‘over the coming weeks’. However, due to the rapidly changing circumstances surrounding Covid-19 it has now been announced that this will be brought forward and we can expect the new scheme to become […]
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