UHY Ross Brooke Chartered Accountants
Category: All insights
New 100% government backed loans for SMEs
April 28, 2020
In the past few weeks we’ve been calling on the government to provide further support for SMEs. We’re delighted that today the government has announced a 100% government backed loan facility for SMEs to borrow up to £50,000. Our view on the new scheme is that this is just the
New Taxation Rules for Non-UK Resident Corporate Landlords
April 28, 2020
Why does this matter? For UK property rental business profits arising after 5 April 2020 to a non-UK resident corporate landlord (“NRCL”)then that company must pay UK corporation tax on those profits, rather than income tax. The existing UK income tax registrations, which would facilitate the payment of income tax
Stay Focused > Protect the Economy > Save Jobs
April 27, 2020
Further support needed urgently to prevent an additional 830,000 unemployed in the South East New research that we have conducted during April shows that 830,000 people in the South East region are at risk of unemployment. This is a stark and worrying number, but this is the reality of what
Investment in Venture Companies during COVID19 – government and private funding
April 23, 2020
Grabbing few headlines, but UK companies, particularly start-ups in the early phases of their existence are taking a hammering in these unchartered times. A recent survey published by the UK EIS Association (“EISA”) has identified that of 250 small-medium companies currently undertaking fundraising there is a 75% contraction in investment
Portal for businesses to apply for grants to cover 80% of furloughed workers’ salaries to be available from 20th April
April 16, 2020
The online portal through which businesses can register their furloughed workers and apply to receive a grant to cover 80% of furloughed workers wages from the government, will be available from 20th April. Furthermore, the government has extended the eligibility to 19 March 2020 – the day before the scheme
Getting ready for the Coronavirus Job Retention Scheme
April 14, 2020
If you have received an email from HMRC within the last few days looking something like the above document then we can confirm this is genuine email from HMRC and not a scam. As the document says HMRC will be contacting firms with regard to the Job Retention Scheme within
Updated guidance on the Business Interruption Loan Scheme (CBILS)
March 23, 2020
INTRODUCTION CBILS is a new scheme, announced by The Chancellor at Budget 2020, that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. CBILS supports a wide range of business finance products, including
The Government’s New Furloughed Workers Scheme
March 23, 2020
We are grateful to Simon Fenton of Constantine Law for this summary of the current position. Simon is an employment law solicitor and for any advice on this matter can be contacted simon.fenton@constantinelaw.co.uk or 07867 528 505 The scheme will be open to all UK employers to get financial support
Coronavirus – Summary of financial support on offer
March 22, 2020
Covid-19 Government Support Package The Chancellor has announced a package of temporary measures to support businesses and individuals through the period of disruption caused by COVID-19. Below we have provided a summary of these measures as they currently stand, these are continuing to evolve and we will share further updates