Call us today: +44 (0)23 8060 0120 | +1 (914) 664 1900
Make a Payment Client Portal
Below you'll find a list of all posts that have been categorized as “COVID-19 News”
The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the upcoming Budget to set out plans for an economic recovery from the coronavirus (COVID-19) pandemic. The IFS expects the Budget to outline additional spending to support businesses and individuals affected by the pandemic. The business group …
Almost 600,000 UK employers are at risk of business collapse in the spring if there is no extension of government coronavirus (COVID-19) support, according to a new report by the Institute for Public Policy Research (IPPR). Those employers account for a third of the UK’s business turnover and employ around …
The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to confirm whether coronavirus (COVID-19) antigen tests paid for by employers will continue to be exempt from income tax and national insurance after 5 April 2021. Guidance published by HMRC states that employers and employees will not …
The UK economy shrank by almost a tenth in 2020 as the coronavirus (COVID-19) pandemic adversely affected businesses, according to the latest figures from the Office for National Statistics (ONS). The data shows that UK GDP declined by 9.9% last year, which is the largest contraction on record. The slump …
In its 2021 Budget submission, the Institute of Directors (IoD) has urged the government to put entrepreneurs ‘at the heart’ of the economic recovery from the coronavirus (COVID-19) pandemic. The IoD called for the creation of a stimulus package to ‘unleash investment in start-ups and scale-ups through targeted reliefs’, and …
Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced. The Pay as You Grow repayment flexibilities now include the option to delay all repayments for a further six months. This means …
Data published by HMRC has revealed that its customer service levels have been adversely affected by the coronavirus (COVID-19) pandemic. HMRC stated that this is a unique financial year as the department continues to operate ‘at the heart of the government’s COVID-19 response’. According to HMRC, the pandemic has ‘reinforced …
The UK’s coronavirus (COVID-19) vaccination programme will help the UK economy rebound strongly this year, according to the Bank of England (BoE). The economy is expected to shrink by 4.2% in the first three months of 2021 as a result of the third national lockdown. However, the BoE’s policymakers expect …
UK businesses have now borrowed over £71 billion via the government’s coronavirus (COVID-19) support schemes, according to figures from HM Treasury. The loans have been accessed by over 1.5 million businesses across all sectors and areas of the country. The British Business Bank has also revealed the regional distribution of …
The Confederation of British Industry (CBI) has urged the government to work with businesses to formulate a roadmap out of the latest coronavirus (COVID-19) lockdown in England. The government expects to publish its exit strategy out of lockdown in late February. The CBI stated that it is already consulting its …
A report published by the London School of Economics (LSE) has warned that more than 900,000 businesses are at risk of failing by early April as a result of the coronavirus (COVID-19) pandemic. The LSE warns that a ‘major wave’ of bankruptcies for UK firms looms as COVID-19 business support …
Almost nine million people had to borrow more money in 2020 as a result of the coronavirus (COVID-19) pandemic, data published by the Office for National Statistics (ONS) has revealed. According to the ONS, the proportion of workers borrowing £1,000 or more increased from 35% to 45% since June 2020. …
Over a third of UK consumers have been blocked from paying for goods with cash during the coronavirus (COVID-19) pandemic, according to research from consumer group Which?. Which? surveyed more than 2,000 people across the country in November 2020 and found 34% had had cash as a means of payment …
Ahead of the 2021 Budget in March, the Confederation of British Industry (CBI) has urged the government to provide more financial assistance to businesses affected by the coronavirus (COVID-19) pandemic. The business group has outlined support measures required to help protect UK businesses through the spring. It has called for …
HMRC says it will accept coronavirus (COVID-19) as a reasonable excuse for the late filing of self assessment tax returns. However, taxpayers must submit the return as soon as possible and explain how they were affected by COVID-19 in the grounds for appeal. HMRC has also enhanced ‘Time to Pay’ …
HMRC has reminded employers that there are now monthly deadlines for claims for furloughed staff under the Coronavirus Job Retention Scheme (CJRS). Chancellor Rishi Sunak extended the CJRS until the end of April 2021. The CJRS was supposed to have ended after being scaled back to cover 60% of salaries …
Gross lending to small and medium-sized enterprises (SMEs) in the first three quarters of 2020 reached £54 billion driven by coronavirus (COVID-19) loan schemes, according to figures from trade body UK Finance. That represents more than double the annual total of borrowing reached by SMEs in 2019, UK Finance said. …
Business groups have welcomed Chancellor Rishi Sunak’s latest lockdown support package for businesses, but have urged him to do more. The Chancellor announced a £4.6 billion package of one-off grants to support businesses in the retail, hospitality and leisure sectors. However, Rain Newton-Smith, Chief Economist at the Confederation of British …
Last night, the Prime Minister of the United Kingdom, Boris Johnson, announced a further National Lockdown in England. Crucially, this time schools and colleges have been closed, and the elderly and vulnerable are again asked to start shielding until the vaccination programme is well underway and the number of cases …
Chancellor Rishi Sunak has announced a new £4.6 billion package of grants to support businesses through the latest national lockdown. UK businesses in the retail, hospitality and leisure sectors are to be given one-off grants worth up to £9,000. The payments are expected to support 600,000 business properties across the …
The Trades Union Congress (TUC) has called on employers to offer furlough to working parents affected by coronavirus (COVID-19) school closures. The TUC said that last minute decisions by ministers mean many working parents are now without childcare. The Coronavirus Job Retention Scheme (CJRS) allows employers to furlough parents who …
With festive sales on the horizon, the British Independent Retailers Association (BIRA) has urged retailers to remain vigilant and safe in order to help halt the spread of the coronavirus (COVID-19). The trade association stated that it is important to focus on safety protocols to ensure retail is not contributing …
HMRC has rejected calls from professional bodies to relax the self assessment tax return filing deadline. The deadline for submitting your 2019/20 self assessment tax return is midnight on 31 January 2021. The Institute of Chartered Accountants in England and Wales (ICAEW) stated that many of its members have been …
The government must match its commitment to employed workers by extending the Self-employment Income Support Scheme (SEISS), says the Association of Independent Professionals and the Self-Employed (IPSE). IPSE welcomed the extension of the coronavirus (COVID-19) Job Retention and loan schemes from March until April 2021 announced by Chancellor Rishi Sunak …
The Confederation of British Industry (CBI) has urged the government to take a fresh look at the support it provides for businesses now under Tier 4 restrictions. Prime Minister Boris Johnson announced new Tier 4 restrictions for London, the South East and East of England amid a surge in coronavirus …
Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (CJRS) until the end of April 2021. Businesses adversely affected by the coronavirus (COVID-19) can make use of the CJRS until the end of April, with the government continuing to pay 80% of employees’ salaries for hours not worked until …
The UK economy grew by just 0.4% in October as the economic recovery continued to slow, according to the latest figures from the Office for National Statistics (ONS). However, the economy remains well below the size it was before the coronavirus (COVID-19) pandemic began, the ONS added. The UK has …
The £100 billion in excess savings built up by UK households during this year’s coronavirus (COVID-19) lockdowns could help fuel an economic recovery, according to the Bank of England. Accidental savers working from home have not had any commuting costs and have been unable to spend on holidays, said the …
HMRC has reminded employers that there are now monthly deadlines for claims for furloughed staff under the Coronavirus Job Retention Scheme (CJRS). Chancellor Rishi Sunak extended the CJRS until the end of March 2021. The CJRS was supposed to have ended after being scaled back to cover 60% of salaries …
The UK’s banks and financial lenders continue to support tens of thousands of borrowers with payment deferrals, according to the latest figures from UK Finance. However, the number of people seeking support from deferrals has dropped markedly since earlier this year. In mid-November there were still 127,000 mortgage payment deferrals …
