COVID 19 News and Updates – UK
Rishi Sunak, the Chancellor of the Exchequer, has today announced a reduction in SDLT (tax that is due on the buyer of property) on all residential property purchases with a value of no more than £500,000. The change is effect
• CJRS closes to new entrants on 30 June. • Given the minimum furlough period, if Employers are yet to make a claim under CJRS and they wish to do so going forward under the new scheme “CJRS2” then they have until 10 June to notify staff so that their period of furlough can commence in time. • For Employers who have previously made a claim under CJRS, they too have until 10 June to notify any employee not previously furloughed, if they wish for that employee to be eligible under CJRS2.
The Coronavirus Bounce Back Loan has been designed for small and medium-sized businesses enabling them to borrow between £2,000 and £50,000 (capped at 25% of turnover) with the Government taking on 100% of the risk.
Finding Financial Support The Government has launched an on-line tool to help both Companies and the self-employed find details of the loans, tax relief and grants they may be eligible for. The business Support Finder can be found at the following web page Click Here.
In response to Covid-19 the Government announced there would be support made available for small businesses, and businesses in the retail, hospitality and leisure sectors. This support will take the form of two grant funding schemes, the Small Business Grant Fund (SBGF) and the Retail, Hospitality and Leisure Grant Fund (RHLG). Small Business Grant Fund
This new scheme has been set up by the government to provide support for those who are self-employed, either as a sole trader or a partner in a partnership.
If your accounts will be late because your company is affected by COVID-19, and your filing deadline has not yet passed, you can apply for an automatic and immediate 3 month extension to file your accounts.
A collaboration between Help Musicians, the Incorporated Society of Musicians, The Ivors Academy, the Music Managers Forum, the Music Producers Guild, the Musicians' Union, and UK Music, who are grateful for the support of many others in the music industry. Click Here