The Coronavirus Business Interruption Loan Scheme (CBILS) is due to end on 31 March 2021, after which no further applications for the scheme can be made. CBILS allows businesses to apply for a loan of between £50,001 and £5 million up to 25 per cent of their annual turnover from lenders accredited the British Business […]

Businesses that have used the Coronavirus Business Interruption and Bounce Back Loan schemes may soon see their 12-month payment-free period end soon. Businesses that took out a loan when they were first launched last year will have to begin repaying the money lent to them from May, unless they are able enjoy a repayment holiday […]

Newly self-employed taxpayers may be required to undergo pre-verification checks before they can access the fourth self-employment income support (SEISS) grant, it has been revealed. HM Revenue & Customs (HMRC) wrote to over 100,000 businesses recently informing them about the changes. The move comes after the Chancellor, Rishi Sunak, extended the SEISS to include those […]

The Coronavirus Job Retention Scheme (CJRS), more commonly referred to as furlough, will now be extended until the end of September this year following confirmation in the recent Chancellor’s Budget. First introduced a year ago, the scheme has provided an essential lifeline to employers, helping them shoulder the employment costs for employees who were unable […]

At the start of April, the Government will introduce the new super-deduction and special rate first-year allowance to help businesses invest in qualifying plant and machinery, as the nation looks to rebuild. This new capital allowance scheme will be available to companies from 1 April 2021 to 31 March 2023, offering them an incentive to […]