Financial Guidance
Financial Guidance
On this page, you will find all the information you need to make informed decisions and access our expert advice in response to the Government announcements about financial support for your business.
Contact us today to discuss how TC Group can liaise with banks and other financial institutions on your behalf to secure any loans or grants that are available to you.
Updates
Further details on COVID support measures announced in the Budget
In the Budget, the Chancellor announced a range of COVID support measures for business. The measures include extending the Furlough Scheme and the Self Employed Income Support Scheme, and industry-specific support. Furlough Scheme The Chancellor confirmed the Furlough...
Detailed guidance on VAT deferral scheme
HMRC has now provided further detailed guidance notes on your payment options for VAT that was deferred in 2020. The original deferral scheme was introduced to assist VAT registered businesses so that they did not have to make a payment with their VAT return during...
2019-20 tax return penalties delayed to 28th February
HMRC has confirmed that taxpayers who need to complete income tax returns for the year ended 5th April 2020 but have not filed them by the 31st January 2021 will not face late filing penalties. This is on the provision that returns are filed by 28th February 2021....
Small businesses to receive payments from business interruption insurance policies
The Supreme Court has ruled in favour of small businesses receiving payments from business interruption insurance policies. Following the ruling, it is expected that tens of thousands of small businesses will receive insurance payouts covering loss of profits from the...
Chancellor announces further support for business through to the spring
Following the Prime Minister’s announcement yesterday of a new National Lockdown, the Chancellor, Rishi Sunak, has released details of a new one-off Lockdown Grant and a discretionary fund. The Lockdown Grants are available for retail, hospitality and leisure...
Summary of Government support schemes
With most of the UK currently placed under Tier 4 restrictions and another full lockdown looking increasingly likely, we thought it might be beneficial to summarise the support available to businesses at this time. Coronavirus Job Retention Scheme (CJRS) – This job...
Chancellor Extends Support for Business
Rishi Sunak has today announced an extension of support for business to see them through to his Budget on 3rd March 2021. The Coronavirus Job Retention Scheme (CJRS) was due to finish on 31st March 2021 with a review to take place in January of the Government...
Government releases further guidance on the extended Coronavirus Job Retention Scheme
As mentioned in our previous email, the Government yesterday announced the full guidance on the extended Coronavirus Job Retention Scheme (CJRS). The scheme will apply from 1st November 2020 to 31st March 2021 and there is no requirement to have previously furloughed...
Furlough and Self-Employed Income Support Scheme extended until 31st March 2021
The Chancellor has announced the extension of the Coronavirus Job Support Scheme (CJRS) and Self-Employed Income Support Scheme (SEISS) to last for 5 months. The CJRS provides grants where employees are furloughed part-time or full-time: The employees will receive 80%...