News & Events | WDM - Part 6

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Pandemic drives dramatic increase in SME borrowing January 25, 2021

Gross lending to small and medium-sized enterprises (SMEs) in the first three quarters of 2020 reached £54 billion driven by coronavirus (COVID-19) loan schemes, according to figures from trade body UK Finance. That represents more than double the annual total of borrowing reached by SMEs in 2019, UK Finance said. Nationally, UK lenders have issued
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ICAEW calls for further guidance on CIS changes January 25, 2021

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to publish draft regulations and guidance on the forthcoming changes to the Construction Industry Scheme (CIS). The ICAEW has called for HMRC to ‘move quickly’ to give businesses enough time to prepare. The CIS changes are set to take effect from April
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HMRC issues self assessment scam warning January 25, 2021

The approach of the 31 January self assessment tax return deadline will bring a surge in scams, HMRC has warned. HMRC issues thousands of SMS messages and emails as part of its annual self assessment tax return campaign. However, the tax authority has warned taxpayers completing their returns to avoid being caught out by fraudsters
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Business groups urge Chancellor to do more to support firms January 7, 2021

Business groups have welcomed Chancellor Rishi Sunak’s latest lockdown support package for businesses, but have urged him to do more. The Chancellor announced a £4.6 billion package of one-off grants to support businesses in the retail, hospitality and leisure sectors. However, Rain Newton-Smith, Chief Economist at the Confederation of British Industry (CBI), said: ‘For some, demand
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TUC urges employers to offer furlough to parents affected by school closures January 7, 2021

The Trades Union Congress (TUC) has called on employers to offer furlough to working parents affected by coronavirus (COVID-19) school closures. The TUC said that last minute decisions by ministers mean many working parents are now without childcare. The Coronavirus Job Retention Scheme (CJRS) allows employers to furlough parents who can’t work due to a
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