We think it particularly imperative to have your Business Survival and Recovery Plan in place if you are intending to take up any of the Government initiatives including the Coronavirus Business Interruption Loan Scheme. Our recommendation is that all clients should be considering the CBILS now – even if you think you will have sufficient funds to see you through the lockdown period.
The team here are already working with the banks and know what they require for a quick turn-around which will be essential for many. We have a good idea of what the banks and funders are looking for in terms of a successful CBILS application. The message being if your plan is not robust with the relevant financials you are unlikely to get the funding. By working with us to prepare your application, we can help ensure you achieve the most successful outcomes for you and your business.
Please continue to visit our COVID-19 Online Hub for the very latest updates. Our resources are updated regularly and are available for download. Latest news includes:
Job Retention Scheme Latest. HMRC are ready to launch the new system which will go live on 20 April 2020. We are looking at the Payroll side of things very closely and will be able to offer our support during this process.
Third Sector Support. An information sheet outlining the support available for those operating in the third sector. As of yesterday, 8 April, Chancellor Rishi Sunak announced a £750m package to keep struggling charities afloat during this time. The measures involve cash grants direct to charities providing key services during the crisis. We will add more details on this when available.
As we head into Easter weekend the team here are very much looking forward to a short break. We are closed on Monday 13 April but will re-open on Tuesday 14 April as normal. We look forward to continuing the conversation with you then.