• Majority of UK firms have less than three months' cash reserves

    Majority of UK firms have less than three months’ cash reserves

    A significant number of UK firms face the prospect of running out of cash within three months, according to a survey carried out by the British Chambers of Commerce (BCC). The BCC’s first Coronavirus Business Impact Tracker polled over 600 firms between 25 and 27 March. It revealed that the majority of firms reported a […]

    Continue reading
  • Major UK banks will pay no dividends or bonuses this year

    Major UK banks will pay no dividends or bonuses this year

    The seven largest UK banks have agreed to the proposal put forward by the Prudential Regulation Authority (PRA) that they suspend dividends and bonuses until the end of 2020. In a statement, HSBC, Nationwide, Santander, Standard Chartered Bank, Barclays, RBS and Lloyds Banking Group said they will ‘suspend dividends and buybacks on ordinary shares until […]

    Continue reading
  • Assistance for the self employed

    Assistance for the self employed

    The Chancellor finally announced the much anticipated support for the self employed last night. This is relevant to people trading as sole traders and partnerships. If you trade through a limited company, it is sadly not relevant to you! The scheme will allow the self employed to claim 80% of their last 3 years’ average […]

    Continue reading
  • Statutory Sick Pay: Support For Businesses

    Statutory Sick Pay: Support For Businesses

    The Government will make legislation to allow small-and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: This refund will cover up to 2 weeks’ Statutory Sick Pay per eligible employee who has been off work because […]

    Continue reading
  • Cyber-Attacks: Increase in home working raises risk

    Cyber-Attacks: Increase in home working raises risk

    The significant increase in home working caused by the coronavirus pandemic has increased the risk of firms being hit by cyber-attacks, according to insurers Beazley. Ransomware cyber-attacks skyrocketed by 131% in 2019, compared to the previous year, according to the Beazley Breach Briefing report, an annual update on cyber trends. In addition to the growth […]

    Continue reading
  • Corporate Financial Reports: Regulators request delay
    0 Replies

    Corporate Financial Reports: Regulators request delay

    Financial regulators have requested a moratorium on corporate financial reports for at least two weeks. The Financial Conduct Authority (FCA) is in talks with the Financial Reporting Council (FRC) and the Prudential Regulation Authority (PRA) about a package of measures to reinforce trust in the reporting system. These will be aimed at ensuring companies and […]

    Continue reading
  • Chancellor unveils £330 billion support package for coronavirus pandemic

    Chancellor unveils £330 billion support package for coronavirus pandemic

    Chancellor Rishi Sunak has unveiled a £330 billion package of support for the UK economy as it combats the coronavirus pandemic. The measures dwarf the £12 billion made available in last week’s Budget. But the Chancellor promised to go further if necessary. The package includes an increase in government-backed loans, higher cash grants, widened business […]

    Continue reading
  • Coronavirus Guidance from Payroll Hub
    0 Replies

    Coronavirus Guidance from Payroll Hub

    As you will be aware, the UK is rapidly moving towards the next stage of coronavirus. In these uncertain times we wanted to reach out to all our clients to let you know we are here to offer support and guidance over the next few months. Health and wellbeing are the most important thing right […]

    Continue reading
  • Economists warn of global coronavirus recession

    Economists warn of global coronavirus recession

    The coronavirus pandemic will cause a global recession as action from governments around the world fails to halt sliding stock markets, warn economists at Barclays. The US Federal Reserve has cut interest rates to a target range of between 0% and 0.25%, and unveiled a significant financial stimulus package. It follows a rate cut by […]

    Continue reading
  • Buy-to-let landlords getting cold feet over sector regulation

    Buy-to-let landlords getting cold feet over sector regulation

    Buy-to-let landlords have turned negative on their investments due to higher taxes and greater regulation, according to research from property development firm Accumulate Capital. The research found that 37% of UK property investors are planning on selling one or more of the residential properties they own in 2020. Over half of landlords would not have […]

    Continue reading
1 2 3 31