Blog – Page 2 – Defacto-FD

Stay Safe, Stay Alert – beware of COVID fraud

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As we enter into our 8th month of coronavirus restrictions, the number of scams and fraudulent activity concerning COVID-19 is on the rise. Most scammers are taking advantage of people working from home by posing as clients or suppliers seeking payment.   Often, the scammers will make contact by phone or email to ask you…

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CJRS furlough scheme amendments

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We write to update you again to let you know of yet further changes to the Coronavirus Job Retention Scheme. In the House of Commons yesterday Rishi Sunak confirmed that the furlough scheme would be extended until the end of March 2021 and will cover all areas of the UK.  The scheme will be reviewed in January…

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COVID-19 CJRS furlough scheme extension

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Only last week we provided information on the Job Support Scheme (JSS) which was to come into force on 1st November, replacing the Coronavirus Job Retention Scheme (CJRS).   However, the announcement of a month-long lockdown, in England, brought with it an extension of the Coronavirus Job Retention scheme (CJRS). The scheme will remain open…

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What does Job Support Scheme mean for your business?

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The new Job Support Scheme (JSS) comes into effect on 1st November, replacing the Coronavirus Job Retention Scheme. So, what does this mean for your businesses? What is the Job Support Scheme? Initially, the JSS was designed to continue assisting business in bringing people back to work. The government made a contribution where employees were…

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Coronavirus Job Retention Scheme

Do you know where you stand with the Coronavirus Job Retention Scheme?

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HMRC has recently announced that 5 – 10% (of £35.4billion) of Coronavirus Job Retention Scheme payments have been issued in error or might have been claimed fraudulently. This means that a huge £3.5billion of furlough pay-outs could have been wrongfully awarded.   With so much uncertainty and so much change over the last few months, it…

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Summary of Mini Budget Announcements July 2020

Summary of Mini Budget Announcements July 2020

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Summer Budget Update 2020 The Chancellor, Rishi Sunak, announced further measures to support jobs and business sectors severely affected by the COVID outbreak. Grants and reliefs offered included support for: employment, the beleaguered hospitality and tourism industry and included green initiatives as well as a novel scheme to get us to eat out in August.…

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How Defacto-FD Is Working From Home

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We are now into May (still in lockdown) and business is really starting to feel the change of working under the new normal. Whether you set yourself up ahead of time or are still adjusting to working from home (WFH), this remote style of working looks like it could be here to stay. For over…

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COVID-19 Bounce back loan scheme launched

COVID-19: Bounce Back Loans Scheme (BBLS) Launches

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Bounce Back Loans Scheme (BBLS) Launches COVID-19 Support For Business Bounce Back loans for  small and medium-sized businesses affected by coronavirus (COVID-19) can now be applied for.  The scheme allows SME’s to apply for loans of up to £50,000 KEY FEATURES OF THE SCHEME Finance of up to £50,000 Guarantee to the lender to encourage…

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COVID-19 Updates. Financial Support for business - Bounceback Loans

COVID-19: Financial Support for business – Bounceback Loans

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New Bounceback Loans Announced The Chancellor announced yesterday a new scheme which will help small and medium-sized businesses affected by the coronavirus (COVID-19) to apply for loans of up to £50,000. This is in addition to the Coronavirus Business interruption loan scheme ( CBILS) we advised of previously. There will be no forward-looking tests of business…

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( COVID-19): Financial Support for business

COVID-19: Financial Support for business

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Financial Support for business In a previous article, we provided updates on financial support including the Coronavirus Job Retention Scheme, support for the self-employed and the Deferral of VAT and Income tax. This article provides updates on other financial support available to businesses either by way of one of the grants, loan funding, time to…

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