Over one million UK businesses have now accessed government-backed borrowing through the Bounce Back Loan Scheme (BBLS), according to the latest figures from the Treasury. The Bounce Back Loan Scheme allows small businesses adversely affected by the coronavirus (COVID-19) pandemic to apply for up to £50,000. With the government guaranteeing 100% of the advance. Lending […]

On 8 July Chancellor Rishi Sunak delivered a Summer Economic Update, which outlined measures designed to boost the UK economy following the coronavirus (COVID-19) lockdown. A new Job Retention Bonus was announced, which will provide employers with a one-off £1,000 bonus for each furloughed employee who is still employed as of 31 January 2021. The […]

The introduction of off-payroll rules to the private sector will go ahead as planned next April after an attempt to delay them again failed in the House of Commons. The reforms of the off-payroll rules to the private sector, which are known as IR35 and have applied to the public sector since 2017, were reviewed […]

The number of workers now furloughed under the Coronavirus Job Retention Scheme (CJRS)/furlough scheme has risen to 9.3 million, according to the latest figures from the Treasury. A further 100,000 employees were furloughed in the week up to 28 June, with 1.1 million employers now using the CJRS. The government has now paid out more […]

Businesses have been told to stay vigilant against the rise in impersonation fraud during the coronavirus pandemic, by trade credit insurer Atradius. The insurer says the increase in impersonation fraud is result of opportunistic fraudsters seeking to take advantage of disruptions to normal business patterns during lockdown. Impersonation fraud occurs when a fraudulent party presents […]

On 12 June, HMRC updated its guidance for employers who have furloughed employees under the Coronavirus Job Retention Scheme (CJRS). From 1 July, employees will no longer have to be furloughed for a minimum period of three weeks. From this date the CJRS will have more flexibility to allow claims on a pro rata basis. […]

The Pensions Regulator (TPR) has issued a warning to savers over the dangers of scams and making transfers during the coronavirus (COVID-19) pandemic. The warning followed the publication of figures by Action Fraud which showed that over £5 million of fraud has been reported since February, with reports totalling over 2,100. According to the fraud […]