Tax agents unable to make Self-Employed Income Support Scheme claims on behalf of clients

Just when they hoped the government was coming to their rescue, the millions of self-employed workers in the UK have been delivered a blow by HMRC who have announced that their tax agents are barred from claiming the self-employed income support scheme (SEISS) grant on their behalf. The SEISS will be open for applications from…

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Government launches Future Fund for struggling start-ups

The government has unveiled a new £1.25bn package designed to ensure that early stage companies receive enough investment to remain viable during the coronavirus crisis. Launching in May 2020, the Future Fund will provide government loans to UK-registered companies ranging from £125,000 to £5m, subject to at least equal match funding from private investors. The…

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Pressure intensifies for 100% government-backed business loans

The pressure on the Chancellor to offer 100% government-backed loans to prevent thousands of businesses from going out of business is working. Banks and other commercial lenders, which must currently cover 20% of loan losses under the government scheme, have been turning down requests to borrow rescue funds that could allow firms to remain solvent through the…

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Improve your chances of being approved for a CBILS loan

When the Rishi Sunak, the Chancellor, said he was making £330bn available to guarantee loans to businesses and “would do whatever it takes” to make sure UK businesses survive the Covid-19 pandemic he was hailed as a Chancellor who understood the problems small businesses would face. Four weeks on and only one in five UK businesses that have…

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