Azets has warned that businesses are to face serious funding problems unless the recovery loan scheme (RLS) is not extended and if banks continue to refuse transfers outstanding coronavirus business interruption loan scheme (CBILS). Azets has called on the government and the British Business Bank (BBB) to extend the recovery loan scheme to the end…
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Pandemic crisis restrictions are beginning to be lifted but what are the changes and what can you do if a winding-up petition is issued against your business? Surprisingly corporate insolvencies have been very low during the pandemic, even when compared to good trading conditions. There are many reasons for this, but one is undoubtedly the restrictions…
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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 firm Signature Litigation, examines the scale of the issue An inescapable outcome of the Covid-19 pandemic is the marked increase in fraudulent activity. Individual or…
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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 working environment has been fast-tracked following lockdown rules requiring people to work from home. The new rules, if approved, will come into force from April…
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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 year. According to a study from Renovo, 69% of employers anticipate job losses, with 46% of organisations expecting to make redundancies within six months, while…
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The government should stop increasing taxes on businesses and jobs, as it risks derailing the economy’s recovery from the pandemic says the Confederation of British Industry (CBI). In a speech today at the Alliance Manchester Business School, Tony Danker, director general of the CBI, called on the government to rethink the tax burden it…
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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 been protected from creditor action since June last year, through the Corporate Insolvency and Governance Act 2020. This was to ensure that viable businesses affected…
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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. New research by consultancy and advisory firm Theta Global Advisors found that expertise and leadership within businesses is gradually shifting towards a greater reliance…
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HMRC has updated the guidance covering the Coronavirus Job Retention Scheme (CJRS) to include a section on what happens when the scheme ends The CJRS is due to end on 30 September 2021. For claims relating to August and September 2021, the government will pay 60% of wages up to a maximum cap of £1,875…
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Previously accepted comparables used for establishing a company’s transfer pricing policy might not be comparable due to the impact of the pandemic, warn David Whitmer, transfer pricing practice leader and Srinidhi Tuppal, transfer pricing manager at Kreston Global With only over 13% of the total world population fully vaccinated against the Covid-19 virus, the world…
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