Govt. updates coronavirus job retention scheme advice

Employer auto-enrolment contributions and national insurance liabilities are covered under the coronavirus job retention scheme. The scheme was announced last week by Chancellor Rishi Sunak and will be open for an initial three months, starting from 1 March 2020. It...

Warning on coronavirus-related scams

Fraudsters are using the coronavirus outbreak as an opportunity to scam pension savers out of their retirement savings, according to a report. Action Fraud said there were 105 reports of coronavirus-related fraud since 1 February 2020, with total losses amounting to...

Parliament mulls statutory self-employed pay

The Government could be set to extend urgent financial aid to the UK's five million self-employed workers in the coming days. Currently, sole traders can access £94.25 a week in universal credit benefits and defer their payments on account, due on 31 July, until 31...

Govt. to pay up to 80% of workers’ wages

The Government has announced a series of measures aimed to protect the jobs of those who are unable to work due to the coronavirus. A coronavirus job retention scheme will pay the wages of employees unable to work due to the COVID-19 pandemic. For the next three...

Interest rates slashed to a 325-year low

Small businesses that rely on credit, such as bank loans or overdrafts, have been boosted by the Bank of England's decision to reduce interest rates. In an emergency move to help firms deal with the coronavirus pandemic, rates were cut to 0.1%. Interest rates in the...