Rishi Sunak

Chancellor mulls VAT cut and could follow up with autumn tax rises

Chancellor Rishi Sunak is reportedly considering cutting VAT in order to help stimulate the economy but could follow the move up with a set of Autumn tax rises.  According to the Financial Times, Sunak is planning deferred tax rises and cuts to public spending in his autumn Budget as a follow up to further stimulus…

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Chancellor extends furlough scheme until October

Chancellor of the Exchequer Rishi Sunak has extended the Government’s furlough scheme until the end of October. Announcing the decision in the house of commons today (12 May) Sunak revealed that “no changes whatsoever” will be made to the current scheme until the end of July.  However he noted that…

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Revaluation of business rates postponed following pressure from Bira

A government plan to bring forward the next revaluation of business rates to April 1, 2021, has been shelved following pressure from the British Independent Retailers Association (Bira). Bira joined other heads of the retail sector in demanding that Chancellor Rishi Sunak withdraw ‘disastrous’ legislation, which was due to be…

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Bira welcomes 100% government-backed loans for small businesses

The British Retailers Association (Bira) has welcomed a new government scheme to offer 100% taxpayer-backed loans for the UK’s small businesses. Yesterday (27 April), Rishi Sunak announced the scheme would start next week offering firms loans of up to £50,000 within days of applying. To access the loans, which are…

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Chancellor announces 100% guarantee on small business loans

Chancellor Rishi Sunak has announced the launch of a new ‘bounce back’ emergency loan scheme for small businesses, which will offer 100% guarantees on emergency loans. Today (27 April) Sunak told the House of Commons that the scheme would begin next week, offering SMEs loans of up to £50,000. The…

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Chancellor considering 100% guarantee on small business loans

Chancellor Rishi Sunak is reportedly considering offering a 100% guarantee on loans to small businesses of up to £25,000.  According to the Financial Times, Sunak is set to up the guarantee, which currently sits at 80%, in a bid to make it easier for banks to supply the loans and comes after the Bank…

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Government launches coronavirus business financial support tool

The Government has released a new ‘support finder’ tool which aims to help businesses and self-employed people across the UK during the Covid-19 pandemic. The tool allows businesses to “quickly and easily” determine what financial support is available to them during the Coronavirus pandemic. Business owners are required to complete…

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Will there be coronavirus help for small company directors who are paid by dividend?

The financial plight of limited company directors has been raised by the Tory chairman of the Treasury select committee. Mel Stride, a former Treasury minister, said chancellor Rishi Sunak needs to view company directors as a tranche of people who have ‘slipped through the net’ of all the other largesse…

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Coronavirus Job Retention Scheme portal goes live

The portal for the Coronavirus Job Retention Scheme is now live, with the government saying that businesses with validated claims will receive payments within at least six days. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee, subject to…

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Chancellor extends furlough scheme deadline

Chancellor Rishi Sunak has extended the deadline for the Coronavirus Job Retention Scheme after it was found that many people who had recently changed jobs were set to miss out. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee, subject to a cap…

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