The government is extending the BBLS and the CBILS deadline to 31st January 2021 for new applications. The Bounce Back Loan Scheme (BBLS)The BBLS provides support to UK-based small businesses. Loans are between £2,000 and £50,000, capped at 25% of turnover, with a 100% government guarantee to the lender and interest at 2.5% pa after … Continue reading →

As part of the new National Restrictions announcement the Coronavirus Job Support Scheme has been extended until December. The furlough grant will mirror the levels in August with the Government paying 80% of wages (up to a cap of £2,500) and the Employer paying the Employers’ National Insurance and Pension Contributions. Flexible furlough is also … Continue reading →

The BBLS has provided support to many UK-based small businesses. Loans are between £2,000 and £50,000, capped at 25% of turnover, with a 100% government guarantee to the lender. The borrower does not have to make any repayments for the first 12 months, with the government covering the first 12 months’ interest payments. Under a … Continue reading →

Taxpayers were able to defer the income tax self-assessment payment on account for 2019/20, due by 31 July 2020, to 31 January 2021. There are also other amounts due on 31 January 2021 – a balancing payment for the 2019/20 tax year and the first payment on account for the 2020/21 tax year. Taxpayers with … Continue reading →

The government is extending the temporary reduced rate of VAT (5%) from 12 January to 31 March 2021. This will continue to apply to supplies of food and non-alcoholic drinks from restaurants, pubs, bars, cafés and similar premises, supplies of accommodation and admission to attractions across the UK. VAT deferral Over half a million businesses … Continue reading →