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Cashflow 999 - How to manage your cash during the Coronavirus crisis
In these challenging times the old business mantra of Cash is King has never been more true. Many businesses have already taken steps to reduce their cash outflows.Read more
Coronavirus Job Retention Grant - latest information
Over the weekend, the UK Government updated and expanded the rules of the Coronavirus Job Retention Scheme. Here are the key points, which in some cases updates or amends some of the previous advice that we have provided.Read more
Coronavirus Job Retention Scheme - FAQ - 22 March 2020
Under the new Coronavirus Job Retention scheme announced on Friday 20th March, government grants will cover 80% of the salary of PAYE employees who would otherwise have been laid off during this crisis. The scheme, open to any employer in the country, will cover the cost of wages backdated to 1 March 2020 and will be open before the end of April. It will continue for at least three months, and can include workers who were in employment on 29 February.Read more
Prepare accounts quickly
As most self-employed readers will be aware, Self-Assessment tax and NIC payments on account are based on profits earned in the previous tax year and balancing payments due are not payable until the 31 January following the tax year end date. From a cash…Read more
What is solvency?
During periods when demand for your goods and services drop – for example, if your business has been closed down or adversely affected by the recent COVID-19 outbreak – your sales and incoming cash receipts tend to drop at a faster rate than…Read more
Coronavirus Job Retention Scheme – update for directors
HMRC’s guidance on the Coronavirus Job Retention Scheme has recently been updated. HMRC will reimburse 80% of furloughed workers' wage costs, capped at £2,500 per month per employee. The scheme will run for at least 3 months,…Read more