COVID-19 Knowledgebase

Businesses that are forced to close as a result of COVID-19 restrictions may be entitled to additional government support. Assistance is also available for businesses that can remain open but have been adversely affected by the pandemic.

Businesses in England that are required to close due to local or national restrictions could be eligible for grant funding based on the rateable value of their properties.

A variety of funds have been created to help businesses throughout the pandemic as well as the Bank of England vowing to buy short term debt from large companies.

The COVID-19 crisis has impacted many areas of society, and for the UK government it has resulted in huge levels of spending to support businesses and individuals. 

On the 26 March the Government announced a support package for the self-employed, including members of partnerships in the UK that have lost income due to coronavirus.  

In early June, HM Revenue & Customs (HMRC) announced that firms that failed to cancel their direct debit in time and payment was taken may be eligible for a refund.  

The extension to the Coronavirus Job Retention Scheme is a welcome one for many employers given the announcement of a national lockdown being imposed from 5 November to 3 December as a minimum.

Updated 16.11.2020: Following the announcement of a national lockdown being imposed from 5 November to 3 December, it was declared that the Coronavirus Job Retention Scheme will be extended until March 2021.

England will enter a second period of lockdown to combat the spread of COVID-19 coronavirus on Thursday, 5 November through to Wednesday, 2 December 2020.

It was the news that every business owner was dreading, but now a second UK-wide lockdown is upon us, forcing a wide range of businesses to shut until December.

The Job Support Scheme (JSS) was announced as a replacement for the Coronavirus Job Retention Scheme (CJRS) and was due to begin on 1 November for a period of six months.

As part of their Winter Economy Plan, the government recently announced the launch of their enhanced Time to Pay service.

Open businesses which are experiencing considerable difficulty will be given extra help to retain employees as government significantly increases contribution to wage costs under the Job Support Scheme and business contributions drop to 5%.

With the UK reeling from one of the biggest economic shocks as a result of the pandemic, and with waves of the virus expected to last through the winter, businesses across the country need to rapidly adapt their practices and procedures to suit the current situation.

As uncertainty around COVID-19 continues and the colder months draw in, the next six months will be a very difficult time for businesses and their workers across Lincolnshire. Fortunately, more government support has been announced, with major changes set to begin almost immediately.

To support businesses most affected by the COVID-19 crisis, the government announced a temporary adjustment to VAT rates.

We offer a range of business support services to businesses and individuals across the East Midlands, supporting clients in Lincolnshire, Nottinghamshire, Leicestershire and Rutland.

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.

On Thursday 24 September, Chancellor Rishi Sunak delivered a statement outlining further measures to support businesses and workers for the next six months.

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).

The government has announced a programme under the Plan for Jobs initiative to support young people getting into the workplace and building the skills they will need. 

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.

As long as COVID-secure measures are in place, companies are now able to ask employees to return to work in an office for non-essential work.

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 Job Retention Bonus aims to provide businesses with extra support when furloughed employees are retained in meaningful employment after the Coronavirus Job Retention Scheme (CJRS) ends on the 31 October 2020.

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.

With the threat of a possible financial crisis and severe economic downturn now with us, rumours have started to circulate that the UK may bring in a ‘wealth tax’.