Chartered Accountants Wylie & Bisset is advising professionals and other intermediaries with business clients concerned about financial distress resulting from the current social distancing measures to consider a DAS Debt Payment Programme. A Debt Payment Programme under the Business Debt Arrangement Scheme is a business statutory debt management tool available to Scottish businesses. It can […]
Aldermore Bank has today taken the decision to streamline its mortgage product offerings and cap loan to value (LTV) options on residential and buy to let products. This will allow the Bank to focus on supporting its existing customers, during a period of high request volumes, while still being able to support the housing market […]
After a campaign by MoneySavingExpert.com founder and chair, Martin Lewis, the government has agreed to change its Coronavirus Job Retention Scheme guidance, in order to clarify that firms can rehire and furlough those who left for other jobs, which then fell through due to Covid-19. Under the scheme, a firm can choose to put employees […]
Small businesses across the West Midlands have started to receive more than half a billion pounds of financial aid to help them through the coronavirus lockdown, it was confirmed today. A specific government funding stream of £561m for small businesses was transferred to the seven metropolitan West Midlands councils on Wednesday (April 1) and more […]
The Prince’s Trust and NatWest have today announced the launch of a £5m fund to help young entrepreneurs across the UK to keep their businesses afloat during the coronavirus crisis. The Prince’s Trust and NatWest Enterprise Relief Fund is available to entrepreneurs aged 18-30, who can apply for grants and tailored support from today. Grants […]
Banking Competition Remedies Ltd (BCR), the independent body established to implement the £775m Royal Bank of Scotland (RBS) State Aid Alternative Remedies Package, today issues updates regarding both the Capability and Innovation Fund and the Incentivised Switching Scheme. Capability and Innovation Fund (CIF) Updates Nationwide returns £50m grant The Alternative Remedies Package (ARP) that BCR […]
Launched on 23 March, today the Coronavirus Business Interruption Loan Scheme (CBILS) has been significantly expanded along with changes to the scheme’s features and eligibility criteria. The changes mean even more smaller businesses across the UK impacted by the coronavirus crisis can access funding. Importantly, access to the scheme has been opened up to those […]
The Office of National Statistics has released its initial results from the new Business Impact of Coronavirus (COVID-19) Survey (BICS), understanding what impact the COVID-19 has had on businesses and employees across the UK. It revealed that 28.5% of employees have seen a decrease in working hours, 46.1% have been encouraged to work from […]
A demolition contractor has secured the jobs of all 33 of its staff during the coronavirus shutdown with support from Lloyds Bank. Chelmsford-based Northeast Demolition UK Ltd work with large construction firms and housebuilders across South-East, East and South London to clear industrial, commercial and residential sites, demolishing all types of buildings from houses to […]
Responding to the Financial Conduct Authority’s (FCA) proposals for temporary financial relief measures to support customers impacted by Covid-19, Stephen Jones, chief executive of UK Finance, said: “All lenders are ready to support their customers during this unprecedented situation, with many individual firms already helping with relief on overdrafts and other unsecured debts. “We have […]
