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Businesses borrowed £79 billion in COVID-19 support loans July 19, 2021

The UK’s businesses borrowed a total of £79.3 billion from the government’s coronavirus (COVID-19) lending schemes, according to official figures. In total over 1.6 million loans were taken out under the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business Interruption Loan Scheme (CLBILS). The three schemes all
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Government urged to provide more clarity over reopening July 19, 2021

The government has been urged to provide more clarity and further guidance after it confirmed that most lockdown restrictions will end in England on 19 July. Business groups said that their members welcomed the reopening, which brings great relief. However, as businesses begin living with and managing COVID-19 they asked the government to do more.
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HMRC publishes guidance on the fifth SEISS grant July 19, 2021

Full details of the fifth Self-employment Income Support Scheme (SEISS) grant, including a new turnover test which determines the level of the grant, have now been published by HMRC. The key change from the previous SEISS grant is that the level of the grant depends on whether turnover has dropped by more or less than
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Furlough scheme starts to wind down July 19, 2021

The government’s Coronavirus Job Retention Scheme (CJRS) started winding down from 1 July. Around 1.5 million workers are still on furlough and the change affects thousands of firms across the country. Furloughed staff will continue to receive 80% of their wages, but employers will now pay 10% of that amount. However, according to the Institute
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800,000 claim tax relief for working from home July 19, 2021

Almost 800,000 employees who have been working from home during the pandemic have already claimed tax relief on household related costs, HMRC has confirmed. The saving is worth up to £125 per year for each employee, and eligible workers can claim the full year’s entitlement if they have been told to work from home by
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