Yesterday the Chancellor announced further financial support for businesses affected by the pandemic.
As businesses are starting to feel the financial effects of the current pandemic, job losses are rising and there is a possibility that some employees may have to be made redundant. This guide explains what redundancy is and outlines how it works, including redundancy notice periods, statutory redundancy pay and tax on redundancy pay.
On the 24th September 2020, Rishi Sunak announced several new schemes to support businesses and workers across the UK as part of his Winter Economy Plan.
Over the course of this post, we’ll take a close look at the details of each of the new schemes, but we’ve also provided a brief rundown of the main highlights below.
This WKM guide explains what director’s loans are and when you might want to consider making one. It goes on to outline how this type of loan works in practice, exploring the tax implications associated with a director’s loan as well as the repayment process.
Yesterday the Minister for Regional Growth and Local Government announced that there would be £20 million in new funding to help businesses across England get back on track due to COVID-19.
Small to medium-sized business in England can receive the Small Business Grant Fund (SBGF) of between £1000-£5000 to be spent on professional services fees to help get business back on track.
In the Chancellor’s summer statement, it was announced that the VAT rate for the hospitality industry would be reduced from 20% to 5% on a temporary basis from the 15th July 2020 to the 12th January 2021. This change has been brought in by the government in an effort to support businesses that have been severely affected by COVID-19.
Following on from our most recent live Budget blog, this post outlines the key points from Rishi Sunak’s UK Mini-Budget 2020, which has also been described as his summer statement.
On the 29th May 2020, the Chancellor announced more details about the Coronavirus Job Retention Scheme (also referred to as the furlough scheme). This post outlines the changes that will be put into place starting from the 1st July 2020, as well as further changes that are planned for the coming months.
The Self-Employment Income Support Scheme (SEISS) opens on the 13th of May 2020. This new scheme is designed to provide income support for self-employed workers who have been adversely affected by the coronavirus (COVID-19) outbreak. Read on to find out if you’re eligible, how much you could claim, and how to apply.
We’ve put together a simple guide to Statutory Sick Pay (SSP) answering all the common questions with everything employers and employees need to know.