Many businesses are currently experiencing widespread disruption and uncertainty as a result of COVID-19. Our advisors are busy keeping up to date with all the detail and practicalities on emergency measures as they are announced by Government.
Please click the images below for information and insight into how to deal with the economic impact of COVID-19.
Government provides clarification on Job Retention Scheme until 31 October 2020
At the end of last week, the Chancellor announced changes to the Job Retention Scheme. We’ve summarised the key points here.
Grappling with the people factor
Fraser Campbell discusses the impact COVID-19 has had on workforce and careful considerations for the future.
Stock market turmoil, Property sales and Inheritance Tax. Can you claim back IHT?
The COVID-19 pandemic has had a major impact on global stock markets, with the value of shares and unit trusts falling significantly. Aileen Scott discusses the opportunity of claiming back or reducing Inheritance Tax (IHT).
Scottish Government increases funding support
It was announced on 26 May that further measures are being taken by the Scottish Government to support businesses adversely affected by coronavirus.
Claiming back employees’ coronavirus-related Statutory Sick Pay (SSP)
The scheme was originally launched in April and the portal opened for applications on Tuesday, 26 May.
How the COVID-19 crisis has helped bring the public closer to UK farmers – and what must be done to maintain relationship
Ian Craig discusses how to maintain public engagement long after the crisis.
Predicting and attracting demand in the new economic landscape
Fraser Campbell discusses the need for businesses to plan and prepare for the next phase.
Support for start-up/early-stage businesses
Graham Cunning, Partner, looks at the details of this package.
Planning for and managing ‘sticky’ cashflow
Fraser Campbell discusses the practical measures businesses can take to protect cashflow and progress to the recovery stage in ‘new normal’.
New loan fund for SME housebuilders announced by Scottish Government for loans up to £1million
View further details here.
HMRC Self-Employed Income Support Scheme – how to claim
Aileen Scott, Head of Tax, discusses eligibility and next steps.
Funding Circle added to list of accredited CBILS lenders
View the key features of and criteria for CBILS through Funding Circle.
Counting down the days
In the first of a series of ‘Counting down the days’ blogs by Fraser Campbell, he offers practical tips and steps that the SME business community can take to prepare and manage the transition from ‘Survival to Revival’.
UK Government announces 100% state-backed loans for small and medium sized businesses
View further details, including eligibility criteria.
Distressed SMEs and newly self-employed given lifeline by Scottish Government
View further details of how the £100 million support package will be broken down.
Furloughing and the Job Retention Scheme
Grant Saunders, Head of Payroll, discusses how we can help and offers guidance.
Further update: Job Retention Scheme
The Chancellor has made a Treasury Direction under Section 71 and 76 of the Coronavirus Act 2020.
Further financial support announced by the Scottish Government
Around £220 million of additional grants are being made available.
Company Car Benefit in Kind during Coronavirus
Aileen Scott, Head of Tax, discusses the impact on company car benefit.
Further update: Coronavirus Job Retention Scheme
Aileen Scott, Head of Tax, looks at the additional guidance published by HMRC.
Supporting you and your business
A practical guide to help you navigate through some of the latest Government emergency measures.
Coronavirus Job Retention Scheme
We look at the details of the Scheme and how it will operate.
The Self-Employed and Coronavirus
We explore the Self-Employed Income Support Scheme.
Accessing Coronavirus Business Interruption Loans
As details develop we are sharing what we know, so far, to assist you in accessing the Coronavirus Business Interruption Loan Scheme (‘CBILS’).
Government Grants Process in Scotland
The Scottish Government has published details as to how some businesses can apply for help with non-domestic rates.
Deferment of VAT payments
Veronica Donnelly, Partner, discusses support for businesses through deferring VAT and Income Tax payments.
How to manage your tax payments
Mark Pryce, Partner, looks at two facilities HMRC already has in place which could help you to manage your tax payments.
We will continue to monitor events and announcements as they occur and should you have any concerns on how your business may be affected, please get in touch.
The information in this update should not be regarded as financial advice. This is based on our understanding on 01 June 2020. Laws and tax rules may change in the future.