Grant McKnight Blog

Business demands clear timelines on reopening 26 May 2020 Businesses need clearer timelines from Government to be able to prepare for re-opening, business leaders said today. It follows Prime Minister Boris Johnson’s announcement that all non-essential retailers can open their doors from 15 June, with car showrooms and outdoor markets given the green light to re-open from 1 June. Retailers will be required to follow Government guidance aimed at making their workplaces ‘Covid-19 secure’ - click  here  for more information. While clarity on timeframes has been welcomed in some quarters, many retailers have been left frustrated after working towards the 1 June re-opening date that was initially mooted by Mr Johnson in his briefing on 10 May. Last week, Greater Birmingham Chambers of Commerce backed  calls from retail industry leader Tony Elvin , general manager of Touchwood in Solihull and vice-president of Solihull Chamber for clarity on the Government's plans for reopening retail. C

Mental health, ambulance, social care, learning disabilities, autism and dementia charities are among those set to receive millions of pounds in government funding. Health and care charities awarded funding to continue providing life-changing support services £22 million in cash grants awarded to mental health, ambulance and other public health charities Package part of £750 million unveiled by Chancellor in response to COVID-19 Mental health, ambulance, social care, learning disabilities, autism and dementia charities are among those set to receive millions of pounds in government funding, Health Minister Nadine Dorries has announced today. Over £22 million in cash grants will be awarded to charities providing vital services to ensure they can meet increased demand as a result of COVID-19, while continuing their day-to-day activities to help those in need. Coming as the nation marks Mental Health Awareness Week, a total of £4.2 million will be awarded to mental health charities, such

The digital bank has so far received over 18,000 applications for the Bounce Back Loan scheme that officially opened last Monday. Starling Bank    has found itself facing hurdles with its Bounce Back Loans (BBL). Anne Boden’s bank first began facing backlash after it stopped accepting new sole trader business accounts  because of  “record demand”  on 14 May 2020. In a  thread  on Twitter,  Starling  announced that it would reopen the sole trader account process on 1 June 2020 so that it could “focus on better serving our existing sole traders.” Since then,  Starling  has been met by a host of  complaints  from   customers  claiming to have been rejected for a BBL with the bank—although many have pointed out that this is because the customers likely failed the necessary fraud checks needed to receive a BBL. In a  tweet  on Friday,  Starling  said it had processed 99.7 per cent of BBL applications with the average time for customers to receive funding being only 27 hours. On Sunday eveni

What government support is available to charities? INSIGHTS CHARITY SECTOR SPECIAL 15 May 2020: Philippa Kelly, Director of ICAEW’s Technical Strategy Business Group, looks at the business support available for charities.  Early in the coronavirus crisis, the government announced  funding for charities  comprising £360m to be directly allocated to charities providing key services (including hospices, St John’s Ambulance, victims charities, vulnerable children’s charities and Citizens Advice), and £370m for small and medium-sized charities. However, many are facing financial challenges and will need additional support. Much of the support available to businesses can also be used by charities. If not already considered, the following schemes and mechanisms may allow charities to continue operating through the crisis and beyond. Deferring VAT payments  to manage cashflow For those with charity shops, taking advantage of business rates relief and the more recent top-up will benefit small c

14 May: Organisations reimbursing staff for equipment purchases enabling them to work from home during the coronavirus pandemic will not have to pay tax, confirms Treasury minister. The government is introducing a year-long exemption that means employers will not have to pay tax or national insurance contributions (NIC) on reimbursement of staff expenses for home office equipment purchased to enable them to work from home during the COVID-19 crisis. In a  written statement  , Jesse Norman, The Financial Secretary to the Treasury, confirmed that the measure is being legislated. It will have effect from 16 March 2020 to 5 April 2021.  To qualify for the exemption, the office equipment must have been purchased for the “sole purpose of enabling the employee to work from home as a result of coronavirus” and the provision of such equipment would have been tax exempt if it had been provided directly to the employee (so is subject to the proviso that private use is not significant). This could

Japan's economy falls into recession as virus takes its toll 18 May 2020   62 comments Share this with Facebook   Share this with Messenger   Share this with Twitter   Share this with Email   Share Related Topics Coronavirus pandemic Image copyright GETTY IMAGES Japan has fallen into recession for the first time since 2015 as the financial toll of the coronavirus continues to escalate. The world's third biggest economy shrank at an annual pace of 3.4% in the first three months of 2020. The coronavirus is wreaking havoc on the global economy with  an estimated cost of up to $8.8tn (£7.1tn) . Last week, Germany slipped into recession as more major economies face the impact of sustained lockdowns. Japan did not go into full national lockdown, but issued a state of emergency in April which severely affected supply chains and businesses in the trade-reliant nation. Coronavirus pushes German economy into recession What shape will the coronavirus recession be? Coronavirus 'could c