Surrey accountancy firm, TWP, is highlighting the newly launched Bounce Back Loan scheme (BBLS) to small and medium-sized businesses after it was launched by the Government this week. Up until now, TWP has said that many businesses had struggled to access finance via the existing Coronavirus Business Interruption Loan Scheme due to the bureaucracy involved […]
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Executive Summary The responses to this survey confirm the widely held view that SMEs have been dramatically impacted by the effect of the pandemic. A total of 1,793 respondents, 42% report that they have closed their business as a result of the lockdown. A full 88% of respondents have had to scale down operations or […]
The Chancellor has announced a new loans measure, known as the Bounce Back Loans Scheme (BBLS), which will allow small businesses to borrow up to 25 per cent of their turnover, up to a maximum of £50,000. The BBLS will be 100% backed by a Government guarantee, unlike the Coronavirus Business Interruption Loan scheme (CBILS) […]
Overview This is a guide for families and individuals on how to financially survive or manage through the Pandemic. It is a tough time for many of us and the idea of this guide is to help people who may have reduced employment income and increased uncertainty about their future. The aim of this guide […]
New research conducted by the UK200Group during April shows that 829,167 people in the South East, including Surrey, are at risk of unemployment. This is a stark and worrying number, but this is the reality of what the UK may be facing. The study shows that 31 per cent of the 1,793 SME businesses who […]
During April TWP, together with other members of the UK200Group, has been asking small businesses across the UK to share information about how their business was faring before the lockdown and what has happened since. Worryingly this research shows that 829,167 people in the South East region are at risk of unemployment. This is a […]
Overview Covid-19 has had a big impact on many SMEs in the UK. A recent study by the Office for National Statistics showed that nearly 40% of businesses in the UK had a substantially lower turnover. With the current level of disruption likely to remain for some time, many businesses are adapting their practices to […]
It is common for directors of limited companies, who are also shareholders, to receive much of their income in the form of dividends instead of through a salary, owing to the tax benefits this can entail. However, there are strict rules governing the circumstances in which a company may pay a dividend to its shareholders, […]
Some sectors that receive payments from the Government as well as from private sources have seen their access to the Coronavirus Job Retention Scheme (CJRS) restricted. The CJRS allows employers to retain employees on the PAYE Payroll who are not carrying out work for them by placing them on furlough and to claim a grant […]
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