COVID-19 Hub
COVID-19 Hub
TC Group is here to support you and your business through these unprecedented times. Our COVID-19 Hub is an information resource and place to find answers to the most important questions, enabling you to keep your business operational during this challenging period. Inside, you will find useful details on Government support for businesses and individuals as well as a wide range of practical advice from our specialists in each of the key areas where you may need assistance.
Client Services
Please note our physical premises are now closed. Although we have adapted our processes, we continue to manage our post daily, and you should experience minimal to no disruption to our handling and response times. All other services are continuing as normal. Most staff now work from home, and we will ensure that we continue to support you in the usual way via calls, emails and video conferencing.
Increased Fraud Risk
Fraudsters are taking advantage of the uncertainty caused by the Coronavirus to target potential victims. Please take all necessary steps to ensure you are not one of them. Full Government guidance can be found here. Wherever possible you should send documents and transfer money electronically, rather than sending forms and cheques in the post. It is also important to be vigilant when it comes to making transactions online.
Tax Initatives
Government tax breaks, deferrals, and other areas where TC Group can help.
HR Support
Government employment support and TC Group HR strategy
Financial Guidance
Government financial support and guidance available at TC Group
COVID-19 Updates
Avoiding CJRS Payment Delays
HMRC has now started testing the Coronavirus Job Retention Scheme (CJRS) portal on a small number of employers ready for the planned full release on 20th April. As a reminder, any employer looking to claim back 80% of furloughed employees pay under CJRS will need to...
Chancellor Announces Lifeline For Charities
Today the Chancellor, Rishi Sunak, announced a £750m package designed to support struggling charities during the Coronavirus pandemic. This follows concerns that some charities are facing huge financial challenges, with income streams such as charity shops,...
From Cash Preservation to Cash Flow Forecasting
Hopefully, by now you are at an advanced stage with the Government measures that are already available to you. Existing options include: Business Interruption Loan Scheme (BILS); CJRS & Furloughing Staff; Rent assistance; Tax deferrals. Whilst the measures are...
Changes to BILS Announced by Chancellor and What That Means for Your Funding Options
As predicted yesterday, Rishi Sunak has announced important changes to the Coronavirus Business Interruption Loan Scheme (BILS). Under the old scheme, there were 130,000 applications and only 1,000 were given loans, a clear sign that the scheme wasn’t fit for purpose....
What to Expect from the Next Chancellor Statement
BILS Overhauled Anticipated Following on from yesterday’s email there have been multiple reports today that the Chancellor is expected to overhaul the Coronavirus Business Interruption Loan Scheme (BILS). We wouldn’t ordinarily comment on speculation but we know that...
Potential Deferring of Salaries
Start conversations with staff regarding potential deferring of salaries There is a possibility the CJRS money may not be paid to employers by end April as originally planned. If this is the case businesses will need to think about their cash flow and how they are...
Government puts pressure on Banks to help Businesses
After a quiet few days for business announcements from the government, today the Business Secretary, Alok Sharma, addressed the nation, to give some much-needed optimism for businesses that are still struggling due to the limitations in the government’s support...
COVID-19 – Daily Update and Director Pay Review
Following on from yesterday’s update, Westminster was quiet again today on the business front, so there are no additional government updates today. Hopefully, by now, you are well on your way with your HR plan, funding solutions and other cash flow improvement...
R&D and how it can get cash into your business quickly
Research & Development (R&D) tax relief is an incentive available to UK limited companies which encourages investment in innovation. R&D tax credits can reduce a company’s tax liability and can be backdated for previous years so can result in significant...