Future Fund The Chancellor has announced the launch of the Future Fund, the scheme will issue convertible loans between £125,000 and £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak. The scheme will launch in May 2020. The government loans to UK-based companies will be subject to at least equal match funding from priv ...

Few property transactions are proceeding at the moment but anyone selling UK residential property needs to be aware of the new requirements. Under the new proposals, the CGT due should now be reported to HMRC and paid within 30 days of completion. The new obligation applies to UK residential property transactions where:  the date of disposal (usually the date of exchange) i ...

Updated 17th April 2020 The Coronavirus Large Business Interruption Loan Scheme (CLBILS) will open on Monday 20 April 2020 to facilitate access to finance for medium-sized and larger businesses affected by the coronavirus outbreak. About the scheme The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to mid-sized and larger UK businesse ...

A government gateway account is an online “portal” where you are able to login and view your current tax position. Once registered you will be able too : See any outstanding amounts that are owed to HMRC or refunds that are due. Dependent on the service, as they do vary, you will be able to establish how payments have been allocated against HMRC liabilities. Why should I ...

Updated 15th April 2020 SEISS PDF Version This scheme can be used if you are self-employed or a member of a partnership in the UK and have lost income due to the coronavirus.  HMRC’s online service to claim the grant is not yet available. HMRC will aim to contact eligible taxpayers by mid May 2020, and will make payments by early June 2020. This scheme will allow you to cla ...

From 1 April the spending limit for contactless card payments rose from £30 to £45. The decision to increase the payment limit was reached following consultation between the retail sector and the finance and payments industry, and echoes similar increases in other European countries. UK Finance stated that the change had been under consideration before the outbreak of COVID-1 ...

Updated 6th April 2020 JRS - FAQ PDF - detailed version of the scheme. Government Gateway Login HMRC over the weekend has released new information on the Coronavirus Job Retention Scheme (JRS). This provides points of clarification and include   An employer can claim for any regular payments it is obliged to pay its employees. This includes wages, past overtime, fees and ...

The Treasury have announced new Coronavirus Large Business Interruption Loan Scheme (CLBILS) for larger businesses excluded from the CBILS. It will provide a government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million. Loans backed by a guarantee under CLBILS will be offered at commerci ...

Updated 3 April 2020 Welcome changes to the CBILS have been announced by HM Treasury. Those that can access the scheme The restriction that CBILS was not available to a business if a lender could offer finance on “normal commercial terms” has been removed. Specifically a business no longer has to demonstrate that it has insufficient security (business and personal) to access ...

Updated 2 April 2020 It has been a mess so far. The Treasury are due to announce changes to the scheme this week. They cannot come soon enough. Who is the British Business Bank? The British Business Bank has the responsibility for operating CBILS. From the website it describes itself as: A government-owned business development bank dedicated to making finance markets work ...