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Business Bounce Back Loans are currently only being provided by the 9 main banks.   In addition, most of these banks are currently only making these loans available to their existing customers.   However, HSBC are accepting online applications from non-customers on their website.   For a the up to date list of lenders visit…

Key features of the BBLS:   The scheme is a 100% government backed initiative for small businesses.   You can apply* for a loan between £2,000 and £50,000 (up to a maximum of 25% annual turnover), for 6 years.   No repayments required for the first 12 months, and you won’t pay any charges should…

The claims service will open ahead of schedule on 13 May with money in bank accounts by 25 May.   HMRC have announced that from today (4 May) businesses can either go online to check their eligibility or wait to be contacted by HMRC.   https://www.gov.uk/government/news/self-employed-invited-to-get-ready-to-make-their-claims-for-coronavirus-covid-19-support   Scams   HMRC will contact eligible customers to…

After reading a recent article in British Farmer & Grower magazine, it reminded me that although we as a country are going through a major pandemic right now, there is life after this. But what will life be like on Farms of the future with the majority of the seasonal workers having come from the…

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…