Coronavirus Restrictions Fund – Business Hardship Fund and Business Closure Fund The Scottish Government have created a Business Hardship Fund and a Business Closure Fund to support businesses significantly impacted by COVID-19 restrictions. The fund aim to support some businesses that remain open but are still significantly impacted by the restrictions, including those in the direct supply...

Update 23 October 2020 The Job Support Scheme (JSS) has been significantly changed just weeks before its implementation. This scheme is now set to cover not only those businesses that face decreased demand due to COVID but also those that are forced to close by the operation of 2 separate system : JSS Open and...

Update 23 october 2020 The Self Employed Income Support Scheme is being extended until 30 April 2021. As before this will be paid out in 2 grants, each of which will cover a three month period. The eligibility criteria are slightly different to the earlier incarnation of this scheme. You must: • be currently eligible...

In anticipation of further cashflow difficulties, Rishi Sunak has tinkered with various loan schemes to allow for more time and greater flexibility in repayment. It has been announced today that the application deadline for all four major COVID loan schemes (Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, Coronavirus Large Business Interruption Loan Scheme...

VAT It has been confirmed today that the payment of the suspended VAT quarter (the VAT quarter due in March to June 2020) which was previous due for repayment by end of March 2021 can now be repaid by way of 11 equal instalments over the tax year 2021/2022 in order to avoid businesses suffering...

Light at the end of the tunnel? The insurance world has been in a state of limbo since the beginning of lockdown as insurers reviewed policy claims and the application of business interruption clauses to the current situation. Due to the enormity of the impact COVID could potentially have on the insurance industry it has...

HMRC will be seeking to recover all wrongly claimed furlough payment grants. However, employers who have made innocent mistakes in their claims have been given time to rectify their errors. When must you act by? Lauren Herbert provides the very latest advice. Thousands of employers applied for furlough payment grants under the Coronavirus Job Retention...

You claimed a Self-Employment Income Support Scheme (SEISS) grant. Whilst it wasn’t too difficult to qualify, it is important to know that HMRC will be checking claims further down the line. What records will you need to back up your claim? Partner Brona MacDogall advises. More information about record keeping for the Self-Employment Income Support...

Because of the pandemic, you have not drawn salary from your company for the last three months because its income was significantly reduced. The situation is now improving and you’re restarting your salary next month but is it worth paying yourself the arrears? Bob Johnstone looks at the implications. If you are one of the...

The Coronavirus crisis has identified that some employees are able to work from home in the long term, but what is the position on reclaiming VAT on remote working allowance for staff? VAT expert John Craig finds out with the following example. You have agreed to pay remote working employees up to £1,000 to pay...