Covid-19 Support

A PLAN FOR JOBS 2020

Chancellor of the Exchequer Rishi Sunak announced a new group of measures yesterday to help the UK’s recovery from the Coronavirus Pandemic. Mr Sunak told the House of Commons he was “not just going to accept” rising unemployment and that although hardship lies ahead, “no one will be left without hope”. He said that “Despite ...

THE CORPORATE INSOLVENCY AND GOVERNANCE BILL

The Corporate Insolvency and Governance Bill received royal assent on 25 June and is now an Act. The measures in this Act will relieve the burden on businesses during the coronavirus (COVID-19) outbreak and allow them to focus all their efforts on continuing to operate. What happens next Some of the measures in the Act ...

CORONAVIRUS JOB RETENTION SCHEME

  From 1 July, employers can bring back to work employees that have previously been furloughed for any amount of time and any shift pattern, while still being able to claim CJRS grant for their normal hours not worked. When claiming the CJRS grant for furloughed hours employers will need to report and claim for ...

UPDATED GOVERNMENT GUIDES ON WORKING SAFELY DURING CORONAVIRUS

The Government have updated their guidance notes this week to help employers, employees and the self-employed understand how to work safely during the coronavirus pandemic. There are several guides covering a range of different types of work environment including : Construction and other outdoor work Factories, plants and warehouses Labs and research facilities Offices and ...

Top 5 tips on communicating through a crisis

In the current crisis, Tom Ahmad, ICAEW Croydon President and licensed insolvency practitioner urges members to focus on the importance of clear and sensitive communication. https://www.icaew.com/groups-and-networks/local-groups-and-societies/london-ds/london-accountant/opinion/may20-croydon

CORONAVIRUS JOB RETENTION SCHEME WILL REMAIN OPEN UNTIL END OF OCTOBER

The government’s Coronavirus Job Retention Scheme will remain open until the end of October, the Chancellor announced this week Coronavirus Job Retention Scheme will continue until end of October furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500 new flexibility will be introduced from August to get employees ...

CORONAVIRUS BOUNCE BACK LOAN

The Business Bounce Back Loan scheme has launched today with applications now open. The scheme helps small and medium-sized businesses affected by Coronavirus (COVID-19) to access loans of up to £50,000. The Government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. For ...

IN CONVERSATION – FACING FINANCIAL DIFFICULTIES

In this latest post, Tom and Sheetal Shah from DSK LLP Accountants discuss the difficulties companies may face as a consequence of the current crisis. We run through strategies such as informal negotiation, administration, CVA and voluntary liquidation.    

Chancellor Rishi Sunak announces new Bounce Back Loan Scheme

Chancellor Rishi Sunak announced a new Bounce Back Loan Scheme earlier this week, which will be launched on Monday 4 May. The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000. The government will guarantee 100% of the loan and there won’t be any fees or interest to ...

Essential Links – Coronavirus Support

Coronavirus Financial Support Tool  – help find out what support is available to you and your business https://www.gov.uk/business-coronavirus-support-finder Claim for wages through the Coronavirus Job Retention Scheme (CJRS) https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme The Government Business Support Hub –  including details on your responsibility as an employer, what you can do to help, and details on financial support available ...

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Paul Bailey and Tommaso Ahmad are licensed insolvency practitioners in the UK and are regulated by the Institute of Chartered Accountants in England & Wales. We are also members of R3 - The Association of Business Recovery Professionals.

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