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Covid-19 Guidance Hub


26th May 2020Covid-19: Exemption for reimbursed home office equipment

It has been confirmed by the Treasury minister that organisations reimbursing staff for equipment purchased that enables them to work from home during the pandemic lockdown will not have to pay tax. We would caution however, that this exemption may not be as generous as it first appears. Generally, the rules on what an employee […]

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13th May 2020Accounting Implications of Covid-19 Support Under FRS102

With so many different loans and grants available to businesses during the Covid-19 pandemic there are many new challenges in how to account for the various support schemes available. Here we discuss some of the main forms of support available and being utilised by businesses and offer guidance as to how to account for these […]

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12th May 2020A Guide to the Coronavirus Job Retention Scheme (CJRS) [Updated]

Under the Coronavirus Job Retention Scheme, announced on 19 March 2020, the Government has put arrangements in place to provide grants to cover 80% of the salary of PAYE employees (up to a capped level) who would otherwise have been laid off during this crisis. Updates since scheme launch: On 12 May, the Chancellor announced: […]

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7th May 2020Helping our clients through Covid-19: Stories of how we have been supporting our clients secure government loans

Financial Support for the Retail Sector Client: Sole trader – designer Loan secured: £200,000 from HSBC through CBILS Approach: Through internal collaboration we were able to identify that the client was in need of financial support and it was passed through to the HWF Business Solutions team. We assisted in providing proforma documents for the […]

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4th May 2020A guide to the Coronavirus ‘bounce back’ small loan scheme

Originally announced by the Chancellor on 27 April, the Bounce Back Loan Scheme  (BBLS) opened for applications on 4th May. This microloan is to help small and medium sized businesses struggling to obtain other sources of Government backed funding. The scheme will be delivered by lenders accredited by the British Business Bank and will provide loans from […]

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1st May 2020Temporary VAT relief on PPE

HMRC has announced the temporary relief from VAT of Personal Protective Equipment (PPE). With effect from 1 May 2020, supplies of PPE will qualify to be zero-rated for VAT purposes until 31 July 2020. Previously, such supplies were subject to VAT at 20%.  This will be a boost to the NHS and also to the […]

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28th April 2020Guidance for SMEs: your key questions answered

The government has issued, and in some cases subsequently revised, measures to support SMEs during this time. Here, Simon Michaels and Jonathan Bourne answer some key questions associated with the schemes in place to help SMEs. If you have any questions or need guidance for your business, please get in touch directly. Which employers are […]

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22nd April 2020Support for self-employed individuals: your questions answered

The Government has only recently issued its help package for the self-employed during the impact of Covid-19 and many questions remain outstanding. Our Partners have answered some key questions for anyone who is self-employed and is looking for clarification on how to navigate the government guidance and what the best action to take is during […]

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22nd April 2020Guidance for charities: your key questions answered

In the current circumstances we know a lot of charities are having to change the way they operate to ensure fundraising and funding can continue through the impact of Covid-19. Our charity department answer some key questions for anyone associated with a charity, looking for clarification on what the best action is for these organisations […]

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22nd April 2020Covid-19 Support for Innovative Companies

On 20 April 2020 the Government announced a support package for innovative firms facing financing difficulties due to the coronavirus outbreak. The new package includes: An investment fund called the Future Fund which will issue convertible loans between £125,000 and £5 million to high-growth companies Grants and loans available to SMEs focusing on research and […]

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21st April 2020Partnering with clients through Covid-19 – Stories of how we have been supporting and advising clients

Helping the Retail Industry Keep Up-to-Date and Make Well-Informed Decisions for the Future Partner: Ross Fabian Client: European distributor for a sports footwear brand Advising on: Coronavirus Business Interruption Loan Scheme and Coronavirus Job Retention Scheme During the last two weeks, the global pandemic has escalated into a financial crisis in the UK, as businesses […]

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20th April 2020A Guide to the Coronavirus Large Business Interruption Loan Scheme

20 April 2020 The Government’s Coronavirus Large Business Interruption Loan Scheme (CLBILS) launched officially on 20 April 2020. Originally announced by the Chancellor on 2 April, further details were released on 17 April expanding the loans to cover all viable firms. It aims to provide finance to UK mid-cap and larger enterprises during the Covid-19 […]

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9th April 2020Covid-19 support for charities – current funding initiatives available

In the current circumstances we know a lot of charities are having to change the way they operate to ensure fundraising and funding can continue. In response to this, Chancellor Rishi Sunak has announced a UK-wide £750m package to support charities during the coronavirus pandemic. The measures involve cash grants for charities providing key services […]

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9th April 2020Financial Reporting Implications of Covid-19

The uncertainty surrounding Covid-19 has huge implications on financial reporting. All company directors have a responsibility to prepare financial statements that give a true and fair view of the state of affairs of the company and of the profit or loss for the period. However, the implications of Covid-19 can make this very complex. Difficulties […]

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8th April 2020How we have been supporting clients through Covid-19

Preparing to Keep a Healthcare Company Afloat in the Absence of Patients Partner: Joel Courts Client: Dental sector Advising on: Coronavirus Business Interruption Loan Scheme and Coronavirus Job Retention Scheme My client is in the medical/dental sector and was forced to stop seeing patients due to government advice. When we discussed what the options were, […]

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31st March 2020Claiming a grant under the Covid-19 Self-employment Income Support Scheme – advice for authors

You can use this scheme if you’re self-employed as an individual or in a partnership and have lost income because of coronavirus. You can apply as long as your 2018/19 self-assessment tax return has been submitted by 23 April 2020. You also need to have continued your professional writing activities in 2019/20, to still be […]

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31st March 2020Claiming a grant under the Covid-19 Self-employment Income Support Scheme – advice for actors

You can use this scheme if you’re self-employed as an individual or in a partnership and have lost income because of coronavirus. You can apply as long as your 2018/19 self-assessment tax return has been submitted by 23 April 2020. You also need to have continued your professional acting activities in 2019/20, to still be […]

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30th March 2020Claiming a grant under the Covid-19 Self-employment Income Support Scheme – advice for musicians

You can use this scheme if you’re self-employed as an individual or in a partnership and have lost income because of coronavirus. You can apply as long as your 2018/19 self-assessment tax return has been submitted by 23 April 2020. You also need to have continued your activities as a professional musician in 2019/20, to […]

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28th March 2020Covid-19 guidance webinar series – advice for businesses, the self-employed and charities

Over the past few weeks, the UK Government has announced a host of packages to support individuals and businesses through the impacts felt by the coronavirus outbreak. We recently hosted a series of free webinars for SMEs, the self-employed and charities, advising on what the Government is offering and how clients can access it if […]

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27th March 2020Support for the self-employed – an outline of the new measures

Who is eligible for the support? Despite the Chancellor’s saying that the package for the self-employed provides parity with employees, there are some very material differences. The first is the scope of eligibility. There appears to be no support at all for anyone with an income in excess of £50,000 per annum. To be eligible […]

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27th March 2020Covid-19 – Stay calm and put plans in place. A checklist for charities to consider during this period

Covid-19 will likely bring operational issues and potential financial implications for charities over the next few months. Despite these challenges, it’s vital that charities avoid reacting to current pressures too quickly. We encourage all charities to spend some time putting the right plans in place, to manage the situation in the best way possible. We’ve […]

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26th March 2020Covid-19 – Advice for Authors

We’re living through unprecedented times; it’s not going to be easy and we are all going to have to work together to get through it. Many of you will have questions on what this will mean from a financial perspective and where you go from here. There is a certain amount of help and support out there […]

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25th March 2020VAT Payments Holiday – Key Points Summarised

On 20 March 2020 the UK Government announced temporary changes to the VAT system, as part of a package of measures in response to the ongoing COVID-19 outbreak. The main points are as follows: The deferral of most VAT payments due between 20 March and 30 June 2020; This therefore includes the VAT Return payments […]

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23rd March 2020COVID-19 – Guidance for Business

19th March 2020 The Government has issued COVID-19 guidance for employers and small businesses. The guidance assists employers with issues facing the health and wellbeing of employees as well as informing them of certifying absences from work. Directors who have to temporarily close their business due to COVID-19 may be able to access support in […]

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23rd March 2020COVID-19 – Government Support for Business Explained

19th March 2020 The Government has issued COVID-19 guidance for employers and small businesses. The guidance assists employers with issues facing the health and wellbeing of employees as well as informing them of certifying absences from work. The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people […]

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23rd March 2020A Guide to the Coronavirus Business Interruption Loan Scheme

23rd March 2020 The Government announced in the Budget on 11th March 2020 that Small and Medium sized companies (with turnover up to £45 million) would be able to access the “Coronavirus Business Interruption Loan Scheme”, from the week commencing 23 March 2020. The scheme has seen a number of updates since it was announced, […]

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