Business Support

Limited Companies

Accountants would say that working capital is the difference between current assets and current liabilities. It is the capital of a business used in day to day trading operations.

Current assets are generally those that can be converted into cash

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Limited CompaniesSole Trader or Partnerships

Literally, the word depreciation means a reduction in the value of an asset over time. It recognises the fact that if you buy assets for your business – cars, plant, computers etc – as time marches on the value of those assets will

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Limited Companies

HM Treasury has published its weekly update (to close of business on 7 June 2020) on COVID-19 lending schemes designed to support businesses impacted by the pandemic.

Under the Coronavirus Business Interruption Loan Scheme (CBILS), 47,650 businesses

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Charities and Not-for-ProfitLimited Companies

The Coronavirus Statutory Sick Pay Rebate Scheme allows small and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The online service to reclaim SSP launched on 26 May 2020.

The

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Sole Trader or Partnerships

Self-Employed Income Support Scheme (SEISS)

No doubt due to recent lobbying by the press and other interested support groups, the Chancellor has extended the SEISS for a final three-month period to 31 August 2020.

This means that the self-employed

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Limited CompaniesSole Trader or Partnerships

Many retailers and manufacturing businesses have stock on their shelves gathering dust.

There are compelling reasons for tackling this issue as we cautiously emerge from lock-down.

For example, freeing up storage space will enable you increase the

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Limited Companies

The insolvency measures to help prevent businesses unable to meet debts due to the impact of Coronavirus to continue trading and not be forced to file for bankruptcy have been extended. It was confirmed that the temporary suspension of wrongful

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Charities and Not-for-ProfitLimited Companies

The Chancellor, Rishi Sunak has today (12 May 2020) announced significant changes to the Coronavirus Job Retention Scheme, now commonly referred to as the furlough scheme. The scheme had been due to run until at least 30 June 2020. The Chancellor has

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The Coronavirus Job Retention Scheme allows employers to claim cash grants of up to 80% of wages (capped at £2,500) for furloughed workers.

In the most recent update to HRMC’s guidance there is a clarification relevant to directors that

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If you are self-employed and qualify for the Self-employment Income Support Scheme you will receive a cash grant from HMRC based on 80% of profits, up to £2,500 per month. The initial grant will be for the three months, from 1 March through to

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The government has announced that more than 1,000 fishing and aquaculture businesses in England will receive direct cash grants through a new fisheries support scheme.

The scheme will make available grants of up to £9 million for eligible

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An interesting quirk of the Coronavirus Job Retention Scheme is that furloughed workers are not entitled to the minimum wage. HMRC's guidance categorically states that 'individuals are only entitled to the National Living Wage (NLW)/National

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