An insight from the gbac team on all things accounting, finance and more.
In response to the Coronavirus, COVID-19, the government announced there would be support for small businesses, and businesses in the retail, hospitality and leisure sectors, delivered through the Small Business Grant Fund and the Retail, Leisure and Hospitality Grant Fund. This new discretionary fund is aimed at small and micro businesses who were not eligible […]
The Chancellor has announced plans to extend the SEISS for those people whose trade continues to be, or is newly, adversely affected by COVID-19. Eligible self-employed people will be able to claim a second and final SEISS grant in August; this will be a taxable grant worth 70% of their average monthly trading profits for […]
The Chancellor has announced three changes to the job retention scheme: 1. From 1 July 2020, the scheme will be made more flexible to enable employers to bring previously furloughed employees back part time and still receive a grant for the time when they are not working. 2. From 1 August 2020, employers will have […]
Since the Government announced that the UK would be placed under lockdown on 23rd March 2020, the financial impact that this would have on thousands of businesses and individuals was, understandably, a cause of concern for everyone up and down the country. However, since this announcement the Government have pledged to support businesses and have […]
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 […]
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