Jun 12, 2020 | Current Affairs
The UK's economy experienced the largest monthly contraction on record in April 2020, shrinking by 20.4%. The sharp fall in GDP came as the UK spent its first full month in lockdown to halt the spread of COVID-19. The Office for National Statistics (ONS) said the...
Jun 11, 2020 | Current Affairs
Recipients of the self-employed income support grants may not realise they are taxable, a tax group has warned. The grants are worth up to 80% of trading profits, paid in a lump sum to cover three months, and capped at £7,500. More than 2.6 million lump sums worth...
Jun 10, 2020 | Current Affairs
More than 8.9 million employees in the UK are covered by the Government's furlough scheme, according to the Treasury. The figure equates to around a quarter of the UK's total workforce and has cost £19.6 billion up to 7 June 2020. The furlough scheme was brought in to...
Jun 8, 2020 | Current Affairs
Employers who intend to use the furlough scheme have two days to place workers on leave or risk losing entitlement to the support. From 1 July 2020, only employees who have been furloughed for at least three weeks on or before 30 June 2020 will be eligible for the...
Jun 5, 2020 | Current Affairs
More than 745,000 businesses in the UK have taken advantage of government-backed coronavirus loans worth £31.3 billion. Bounce-back loans accounted for £21.3bn, £8.9bn in business interruption loans went out, followed by £1.1bn in large business interruption loans. In...
