Updated 27.08.20: The last fortnight has seen a number of important developments and changes which will affect businesses.
Some of the most significant include the extension to the closing date for applications for government backed loans, such as the Coronavirus Business Interruption Loan Scheme and the Bounce Bank Loan Scheme, for businesses and the extension to the ban on evictions for residential property.
Encouragingly, a new grant for small and medium sized businesses, awarding up to £5,000 to eligible businesses to cover accountancy services, business advice, legal and HR services. This essentially means that businesses could be able to access almost all of our services for free through the scheme.
Contact us for support and advice
Given the changing and uncertain situation, we understand that you will have many questions about the support available to you and you will be concerned for the future of your business and the welfare of your workers and customers.
We are here to help you choose the right path for your business. We can support communication with HM Revenue & Customs to claim the funding available to support your employees and to prepare the information required to make loan applications.
If you would like any assistance in applying for support for your employees, a financial grant or any other government support package, please contact our team.
Loans, grants and funding
Please note, the information herein is correct as of Monday 24 August 2020 but may be subject to change.
Some elements of business support are devolved and therefore support may differ in Scotland, Northern Ireland and Wales.
For the latest guidance and professional advice, please contact us or speak to your dedicated Duncan & Toplis adviser.
In response to COVID-19, new changes have been announced for the Quality and Outcomes Framework (QOF). GPs across the UK must now implement these updates to reflect the impact of coronavirus on the health service.
72% of owner managed businesses say they’re confident they can retain their furloughed workers once government funding ends, according to a survey conducted by the Association of Practicing Accountants (APA).
Since the beginning of lockdown, many measures have been set out in an effort to stabalise businesses against the negative impact of COVID-19; from the initial support to protect UK high streets to more recent developments for young workers and making homes more energy efficient.
Small and medium sized businesses can now access government funding to cover or contribute towards the cost of a range of services offered by Duncan & Toplis.
After criticism of the Coronavirus Business Interruption Loan Scheme (CBILS), which has only supported 8,638 businesses to date, the government announced the Bounce Back Loan Scheme (BBLS).
One of the first packages of support to be announced for businesses affected by COVID-19 was the Coronavirus Business Interruption Loan Scheme (CBILS).
The COVID-19 pandemic has had a surprising and significant impact on the world as we know it. Many countries have experienced wide scale lockdowns and economic downturn – it truly has been the global event of a generation.
Giving his Summer Statement on 8 July, the chancellor announced a headline measure of VAT on food, accommodation and attractions being cut to just 5%.
What a difference! Just weeks ago, our coastal towns were silenced under the UK-wide lockdown and now life is coming back to some of the nation’s favourite seaside resorts, albeit with a few caveats.
There have been a number of significant changes in recent weeks, as shops and businesses begin to make the slow return to a “new normal” as lockdown eases.
To support businesses most affected by the COVID-19 crisis and subsequent UK lockdown, the government has announced a temporary adjustment to VAT rates for the hospitality, hotel and holiday accommodation sector from 15 July 2020 to 12 January 2021.
As lockdown eases across England, the government has issued further guidance and support for pubs, cafes and restaurants that are able to open and operate safely.
As companies across the country have transformed following the Government’s advice for us all to work from home wherever possible, many have asked how we’re planning to do the same at Duncan & Toplis.
From business rates holidays and grant funding to the simplification and cost reduction of licenses, the government have introduced several support measures to help businesses in the retail, hospitality and tourism sector negatively impacted by COVID-19.