How to effectively manage your staff remotely

Prior to 2020, only 30% of the working population was able to work remotely, with these figures increasing every year. However, due to the Covid-19 pandemic, many employers now find themselves having to manage all of their staff remotely, and many are doing so for the first time. Alongside these figures, many employers also understand that there are a number …

Starting a business during Coronavirus

History shows, successful companies can be born in tough times. Previous financial crises have given rise to high-profile business. For example, WhatsApp, Instagram, Uber and Airbnb were all founded during economic downturns. We are certainly in a downturn again at present. Small businesses across the country were shutting down amid the spreading coronavirus pandemic. At the same time, new businesses …

Government launches £1.25bn plan to support UK start-ups

The government has announced it will invest in innovative start-ups as part of a £1.25bn bailout plan for struggling to survive the effects of the coronavirus pandemic. To qualify to receive the government money, however, start-ups must have raised £250,000 of private funding over the last five years. On top of that, any money put in by the government must …

Support for charities throughout Coronavirus pandemic

The Chancellor, Rishi Sunak, has announced an additional £750m of funding for front-line charities to help them to continue their vital work during the COVID-19 pandemic. The £750m is made up of a direct allocation of £360 million from government departments to charities providing key services during the crisis, including hospices and those charities supporting the victims of domestic abuse. …

COVID-19 and claiming benefits

The government has announced that certain benefits will be increased as part of the package of measures to help households affected by COVID-19. This will see the standard rate of Universal Credit and Tax Credits increased by £20 a week (£1,040 per year) for one year from 6 April 2020. It has earlier been announced as part of the Budget …

Coronavirus Job Retention Scheme

If you have been ‘furloughed’ then the new Coronavirus Job Retention Scheme may be able to help. If you are furloughed it essentially means that your employer has given you a temporary leave of absence or a type of sabbatical to help cope with the economic turmoil resulting from COVID-19. If you are on furlough, then you should be at home …

Companies House deadlines and Coronavirus

There are automatic late filing penalties which are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must send their accounts to Companies House. Companies House is advising businesses to take appropriate measures to file on time. If, immediately before the filing deadline, it becomes apparent …

Self-Employed Income Support Scheme

The long-awaited statement from the Chancellor, Rishi Sunak regarding COVID-19 support for the self-employed has been announced. The Chancellor said that the scheme will benefit some 95% of people whose main income source is derived from self-employment. A list of the scheme features as announced, and published, are as follows: Those that qualify will receive a cash grant from HMRC based …

Deferring VAT and tax payments

As part of the government’s response to assist businesses during the COVID-19 crisis is the offer to defer VAT and self-assessment tax and NIC payments. VAT HMRC will not enforce payment of VAT liabilities that fall due between 20 March 2020 and 30 June 2020. For most VAT registered firms, this will boost cashflow as one quarter’s VAT payment will …