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Coronavirus: Mini-Budget July 2020…   Yesterday, 8 July, the Chancellor announced the latest initiatives designed to stimulate and support the economy in the wake of the Covid-19 pandemic.    We have summarised below the main elements of the announcements but in certain areas details are still to be announced.      Furlough 2  Whilst not part of....

Coronavirus: Self Employed Income Support Scheme – Round 2…   While the first round of Self Employed Income Support Scheme (SEISS) grants is running to a close in the coming weeks, the scheme has been extended with a second (and final) round of grants scheduled to be made available in August.   This second round....

Coronavirus: Missed VAT deferral deadline reclaims…     One of the measures that has been in place since the first raft of announcements to support businesses during the coronavirus pandemic is the option to defer VAT payments.   For VAT payments falling due in the period between 20 March 2020 to 30 June 2020 businesses....

Coronavirus: Job Retention Scheme – Update..     On 29 May chancellor Rishi Sunak, announced changes to the rules affecting furlough, more formally known as, the Coronavirus Job Retention Scheme (CJRS).      Flexible furloughing   From 1‌‌ July 2020, there is the flexibility to bring previously furloughed employees back to work part-time – with....

Coronavirus: Sick Pay Rebate Scheme Opens 26 May…     One of the longer acronyms emerging from the raft of new legislation to support businesses through the coronavirus pandemic, the CSSPRS, or Coronavirus Statutory Sick Pay Rebate Scheme, will be going live in the next week.   Claims are to be made through the CSSPRS....

Coronavirus: Self Employed Income Support Scheme Update…     HMRC has begun contacting taxpayers who may be eligible for the Self-employment Income Support Scheme (SEISS) this week. The communication received from HMRC includes instructions for when the claim portal opens.   Do not worry if you have not yet received communication from HMRC. Information is....

Coronavirus: Local Business Grants Top-Ups…   On Saturday 2nd May 2020 the government announced that a discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme.   The 5% top up to the local business grant funds scheme is aimed at closing the gap....

Coronavirus: Bounce Back Loan Scheme Details…     Further details in relation to the BBLS have now been announced including a list of accredited lenders and instructions on how to apply.     Who is it for? The scheme is intended for businesses that are losing revenue and seeing disruptions in cashflow due to the....

Coronavirus: ‘Bounce Back’ Business Loan Announced…   Rishi Sunak, yesterday updated the range of loans available to businesses because of the impact of Covid-19. The newest type of loan has been named the ‘Bounce Back’ loan with it being described by The Chancellor as a “simple, quick, easy solution for those in need of smaller....

Coronavirus: Grants available to help with costs of professional advice…     Business Support has never been more important in this turbulent time   The team at Sowerby are available to assist you in any way we can. However, for those concerned about the cost of seeking detailed advice the Humber LEP Growth hub are....