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Defaults on business covid loans could reach £22bn

Almost a third of coronavirus business interruption loan scheme (CBILS) and bounce back loan scheme (BBLS) loans, amounting to £22bn, will go into default, claims ACP Altenburg Advisory The debt…
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Fraud in the pandemic

The sheer scale of fraud committed during the pandemic was exacerbated by the limited level of checks when claims were made for covid grants. Kate Gee, counsel at specialist disputes…
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A third of UK small businesses highly indebted

According to the Bank of England, a third of UK SMEs are in more than twice as much debt as before the Covid-19 pandemic. A report issued by the Bank…
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Treasury invests £500m in Plan for Jobs expansion

The Treasury announced yesterday that it was to support hundreds of thousands of people as part of a £500m expansion to the government’s Plan for Jobs scheme As part of…
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Right to request flexible working may be extended

The government plans to strengthen employment rights for employees from their first day in a new job and unpaid leave for working carers. The move to a more flexible, hybrid…
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Covid support measures come to an end

As the furlough scheme, temporary reduced VAT rates, and paused winding up scheme all come to an end, nearly seven in 10 employers expect to make redundancies within the next…
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HMRC debt and enforcement

HMRC is ramping up action against tax defaulters while the end of the winding up ban at the end of September will be a shock for some businesses protected by…
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End of temporary insolvency measures

Temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1 October Companies in financial distress as a result of the pandemic have…
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Furloughed staff at lowest number since start of pandemic

The number of people on furlough has fallen to the lowest level since the start of the pandemic as the UK economy continues to recover and businesses reopen A total…
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Finance teams could be set to go external

In-house finance teams could be a thing of the past with 33% of business leaders and employees seeing external expertise as essential for businesses to thrive after the Covid-19 pandemic.…
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