April 2020

Covid19: furlough scheme cut-off extended to 19 March

Thousands more employees will be able to receive support through the Coronavirus Job Retention Scheme (CJRS) after the eligibility date was extended to 19 March 2020. Under the scheme announced by Chancellor Rishi Sunak last month, employers can claim a grant covering 80% of the wages for furloughed employees, subject to a cap of £2,500. Following a review of the

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Extension for filing accounts confirmed by Companies House

Companies House has said businesses affected by Covid-19 will be able to request an extension to file their accounts, reports and confirmation statements. The maximum extension is three months, but Companies House said stringent conditions will apply. What you must do is to lodge your appeal before the company’s filing deadline. If companies do not apply for an extension and

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Friday Roundup 17th April 2020

The news from the week ending 17th April 2020 Janet Jack – CEO Sarah Palmer – COO Simon Jordan – Marketing Below are the notes from the podcast Janet: The main focus of the week has been payroll due to updates to the furloughed workers guidance last Friday and again on Wednesday evening, software updates and this coinciding with it

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Rota systems and time off for carers allowed under Job Retention Scheme

Companies with some staff on furlough are now allowed to operate rota systems as a form of short-time working. Trades union body the TUC has been pushing for the government greater clarity on how the scheme can be used, and the government updated its Job Retention Scheme. In a statement on its website it said: “They have clarified that the

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Just 2,000 UK firms given coronavirus business loans

Just 2,022 loans have been made to the UK’s SMEs through the government’s coronavirus business lending scheme, meaning less that 1% of firms that have applied have been successful. There have been around 300,000 applications so far, but just £291.9m had been lent via the coronavirus business interruption loan scheme (CBILS), City A.M. has reported. CBILS was launched on 23

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HMRC issues advice on new CGT rules

HMRC has produced a fact sheet on the Capital Gains Tax 30-days reporting and payment obligations for UK residents disposing of residential property and for non-UK residents disposing of UK land from 6 April 2020. So what happens if a vendor doesn’t tell HMRC about the Capital Gain on a UK residential property within 30 days and there is a

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Crisis in retailing ‘to lead to 236,000 job losses’

Some 20,622 stores will close in 2020, which promises to be the most damaging year in UK retail history. The Centre for Retail Research is also predicting job losses will rise to 235,704, compared with a figure of 143,128 in 2019. Last year 16,073 retailers shut their doors for the final time. In a statement on its website it said:

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Child Benefit can now be claimed by phone or post

Parents of new-borns will still be able to claim Child Benefit despite the outbreak of coronavirus, HMRC has announced. Even though General Register Offices remain closed for now, parents can still claim Child Benefit without having to register their child’s birth first to ensure that they do not miss out. First-time parents will need to fill in Child Benefit claim

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Wrongful trading provisions suspended

The government has announced changes to enable UK companies undergoing a rescue or restructure process to continue trading, giving them breathing space that could help them avoid insolvency. This will also include enabling companies to continue buying much-needed supplies, such as energy, raw materials or broadband, while attempting a rescue, and temporarily suspending wrongful trading provisions retrospectively from 1 March

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