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The spread of Coronavirus is being exploited by criminals to carry out fraud and cybercrime. Latest data from police shows there has been an increase in Coronavirus related scams.   Any charity is at risk, but especially those providing services to the local community during this crisis. Common frauds and cybercrimes to be aware of…

Further changes to the Coronavirus Business Interruption Loan Scheme (CBILS) have been announced in order to speed up the provision of finance to small and medium-sized businesses under CBILS.   A joint statement from the seven largest SME lenders (Barclays Bank UK, Danske Bank, HSBC, Lloyds Bank, NatWest, Santander and Virgin Money) and UK Finance…

The Chancellor has announced that small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders.   The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000.   The government will guarantee 100% of the loan and there won’t be…

Do you have a child at university right now or planning to start in September? Are you applying for student finance?  If parental  income has dropped by more than 15% since the 18/19 tax year, then you can request for a Current Year Income (CYI) Assessment.  See more at https://www.gov.uk/support-child-or-partners-student-finance-application/current-year-income

So we are nearly at the end of the first week of the job retention scheme portal opening and as a firm have processed over 100 claims helping more than 500 employees continue to get paid. We are still continuing to process the claims, hoping to help more businesses gain funding to keep going.  …

HMRC opened the Coronavirus Job Retention Scheme On-line Portal on Monday 20th April 2020, which allows employers to claim the Government Grant in respect of Furloughed employees.  As cash flow is a priority, our payroll team is busy helping clients compile and submit claims at the earliest possible opportunity.   At Whiting & Partners we…

A new ‘support finder’ tool will help businesses and self-employed people across the UK to quickly and easily determine what financial support is available to them during the Coronavirus pandemic.   https://www.gov.uk/government/news/government-launches-new-coronavirus-business-support-finder-tool

HMRC have now updated their residence guidance in respect of COVID-19, recognising that the pandemic may impact individuals’ ability to move freely to and from the UK, or require individuals to remain unexpectedly in the UK.   There have been two main changes: for overseas individuals coming to the UK to work in connection with…

When UK resident individuals, trustees and personal representatives dispose of residential property it is important to be aware of the Capital Gains Tax (CGT) reporting changes now with us where the unconditional contract is signed after 6 April 2020, usually this is the date of exchange.   Generally a return in respect of such a…

In light of the COVID-19 Pandemic, HMRC has updated it’s guidance for employers who offer salary sacrifice arrangements.   Under the terms of a salary sacrifice arrangement, a ‘life event’ is a permitted reason to break the arrangement mid-term.  Previously the list of life events was limited to marriage, divorce, and a partner becoming redundant…