Here at Advanced Accountancy we understand the uncertainty and fear that you are feeling right now. In the blink of an eye life as we know it has changed completely and the future of the businesses we’ve worked so hard to build are looking suddenly uncertain.
If you’re self employed the last thing you want to do is stop trading. Every instinct you have wants to continue to grow your business and serve your loyal customers, but we’re in the middle of something unexpected and unpredictable and we’re being forced to make decisions that we know will benefit our health, but harm our profits and prospects.
The only consolation we can offer at this time is to reassure you that you are not alone.
COVID-19 will have dire financial repercussions for many industries but as your accountants and your friends it’s our job to guide you through this upheavel by bringing you the very latest in news and updates. We have developed an inside out knowledge of all the Government financial assistance available and we can help you access support and look at other ways you can continue to trade safely at this uncertain time.
This includes a package of measures to support businesses including:
- A Coronavirus Job Retention Scheme
- Deferring VAT and Income Tax payments
- A Statutory Sick Pay relief package for SMEs
- A 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in Englan
- Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
- Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- The Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
- A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loan
- The HMRC Time To Pay Scheme
You do not have to read, digest and apply these schemes yourself. As your accountant it’s our job to work out which would be of benefit to your business at this time and, as always, do the legwork to bring you the best financial outcome possible.
Over the next few days we’ll continue to update you with a brief and easily digestable pack of information to explain each scheme and grant in more detail.
In the meantime please contact us on 01384 271858 or email us at firstname.lastname@example.org for more information.