Covid-19 update 11. Bounce back loans
The Bounce Back Loan scheme was available from the 4th May 2020 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 pay for the first 12 months. Loan terms will […]Read More
Covid-19 update 8. More details to hand.
More details have come to hand as accounting bodies and journalists ring the Treasury to clarify details. The Self-employment Income Support Scheme gives self-employed people who qualify 80% of average profits over three months in one lump sum sometime in June 2020. There is an upper limit of £2500 a month or £7500 over the three months. […]Read More
Covid-19 update 7. More links and Vidz
Here are two very helpful vidz that lay things out in a systematic way. Self employment Income Support Scheme Job Retention Scheme Self-employment Income Support Scheme. The Chancellor announced a new Self-employment Income Support Scheme to support self-employed people who have been adversely affected by COVID-19. GOV.UK has further details about who is eligible for the scheme […]Read More
Covid-19 Update 2. Thursday 19th March 2020
Regarding business loans help is expected to be available on Monday 23rd March 2020 called ‘Coronavirus Business Interruption Loan Scheme’ (CBILS). Businesses will need to apply through a participating lender. The full eligibility criteria has not yet been published, though at the time of writing includes: • turnover of no more than £41 million per annum […]Read More
Covid-19 update 1. Thursday 19th March 2020
Rather than answer individual enquiries about relief available at this unprecedented time, I will post a blog as information comes to hand. The reliefs have only been anounced by both Westminster and Holyrood. That is “the what”. They are now working out “the how”. Here is the latest information; Small Business Bonus Scheme: You can […]Read More
Business Bites Episode 6: What is your “Total Debt Service Ratio”?
Business Bites Episode 5: is there such a thing as good debt?
Are you ready for the increase in pension rates ?
From the 6th April 2018, auto enrolment pension rates are going to increase. It’s important that you’re ready for these contribution increases so that the correct amounts are deducted from your payroll at the right time if you are employer. If you are an employee, you will be paying higher contributions so you need to […]Read More
Do insurance companies pay out on red alerts ?
There is a rumour that insurance companies will not pay out for accidents during a red alert. (Red alert is in place in Scotland at the time of writing, 1st March 2018). This is NOT true. It is not about whether there was a red alert but whether there was “contributory negligence” on the driver’s […]Read More
Automatic enrolment doesn’t end with a declaration of compliance
So, you’ve assessed your staff, put them into a workplace pension, and declared your compliance. But automatic enrolment (AE) doesn’t end there, and neither does your responsibilities. There are still legal duties that need to be completed – automatic enrolment is an ongoing responsibility even after the declaration. Every time your run their payroll, their […]Read More