Business owners put billions of pounds on the line to secure early CBILS loans, figures reveal

Business owners who took out an early coronavirus loan have more than £1.2 billion of personal guarantees on the line, a major study has revealed.

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Construction industry VAT reverse charge to come into effect on 01 March, Government confirms

The delayed Construction Industry Scheme (CIS) VAT reverse charge will come into effect on 01 March 2021, it has been confirmed.

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UK economy shrinks less than first feared after second national lockdown, economists reveal

The UK economy shrunk less than first feared during the second national lockdown, a major report has revealed.

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Advisory Fuel Rates: updates from 1 December 2020

HM Revenue and Customs (HMRC) has updated the Advisory Fuel Rates (AFRs) which come into effect on 1 December 2020, for company car drivers requiring fuel costs from their employer. However, you can use the previous AFRs for up to

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Businesses urged to file annual accounts early and “go paperless” to avoid Covid-19 disruption

Companies House has urged businesses to file their annual accounts earlier than usual to avoid “last minute” disruption caused by the coronavirus.

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Proposed R&D cap for SMEs published

On 12 November 2020, the details of the proposed Small and Medium-sized Enterprise (SME) Cap, which is due to come into effect on 1 April 2021, was published.

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Businesses return £215 million furlough payments to the Government

According to HM Revenue and Customs (HMRC), more than £215 million of Coronavirus Job Retention Scheme (CJRS) payments have been willingly returned to the Government by UK firms, out of £35.4 billion worth of claims up until 16 August.

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Coronavirus Job Retention Scheme rejects claims after employer accounting errors

The Institute of Chartered Accountants in England and Wales (ICAEW) has warned businesses to get “their data right” or face delays receiving grants under the Coronavirus Job Retention Scheme (CJRS).

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National Minimum Wage investigations have drastically increased

National Minimum Wage investigations by HM Revenue & Customs (HMRC) have increased significantly, according to the latest research.

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UK businesses borrow more than £52.6 billion to tackle impact of the pandemic

According to the latest industry research, UK businesses have borrowed more than £52.6 billion in a bid to combat the disruption caused by the Coronavirus pandemic.

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Empty high street shops reach highest level for more than six years

According to the new figures, the number of empty high street shops has risen to the highest level for more than six years following a wave of store closures as a result of the pandemic.

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Almost a third of small businesses carried on without Government Covid-19 support

According to the latest industry research, nearly a third of small businesses have carried on through the Coronavirus pandemic without accessing any financial support from the Government.

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One in ten businesses at moderate risk of insolvency according to ONS

According to the latest statistics published by the Office for National Statistics (ONS), around one in ten businesses claim their risk of insolvency is moderate or severe, with the majority of those seeing their turnover fall by more than half

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COVID-19 – More than 10,000 SMEs apply for business recovery grants

More than 10,000 small and medium-sized enterprise (SME) owners have applied for a £10,000 Business Boost grant, as firms look to rebuild and recover from the coronavirus pandemic.

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More businesses given green light to reopen as lockdown restrictions relax

Beauty salons, tattoo studios, spas and barbers will be allowed to offer all “close contact” services from Saturday as lockdown measures relax, it has been announced.

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