BR Blog

We're all about communication at Barnes Roffe, especially when it comes to our clients and contacts: existing or potential. For this reason we have set up our 'Blog Spot'. To help you to get to know our team, recognise our motivations and more importantly feel confident in the strategies we promote.We post here regularly, to help give you the insight and understanding you need to take every market change in your stride.

April 03, 2020

Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business Interruption Loan Scheme (CLBILS)

Updated as at 3 April 2020 Coronavirus Business Interruption Loan Scheme (CBILS) What is it? The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak.
April 02, 2020

CBILS Loans – update and application planning

As people may be aware, the CBILS initiative put forward by Government has up to now failed to be the source of emergency funding that the Chancellor trumpeted it would be.
March 30, 2020

Employees working from home – what is taxable?

HMRC have published guidance for employers on what equipment, services or supplies are taxable if employees are working from home due to either employers’ workplaces being closed, or if they have been advised to self-isolate as a result of coronavirus (COVID-19).
March 30, 2020

Update to Furloughed Workers

As and when further detail is being released by the government we are able to update our guidance to you.
March 27, 2020

COVID-19: Government Help for the Self-Employed

On 26th March 2019, Chancellor Rishi Sunak announced assistance for the self-employed, intended to be analogous to the help already announced for furloughed employees. At the time of writing the precise detail is still largely absent. However, the basics of what has been announced are set out below.
March 26, 2020

Furloughing employees

There have been a flood of questions following the Government’s announcement of the availability of a grant to cover 80% of the wages of staff furloughed during the COVID-19 crisis.
March 26, 2020

Self-assessment payment on account deferral confirmed

Following some uncertainty, the Government have now updated their guidance to confirm that all self-assessment taxpayers, not just the self-employed, are eligible to defer their July 2020 payment on account until January 2021. No application is required and the deferral is automatic.
March 25, 2020

Mortgage Payment Holidays & Protection for Renters

The FCA has issued the below guidance: Payment holidays A ‘payment holiday’ means you agree with your lender that you will not have to make mortgage payments for a set amount of time. Payment holidays are designed to help you when you may experience payment difficulties – in this case because of the coronavirus situation.
March 25, 2020

VAT Deferral Scheme

In line with the VAT deferral scheme please cancel your direct debit so automatic collection does not happen.
March 25, 2020

HMRC set to revise down late payment interest rate!

As HMRC interest rates are linked to the Bank of England base rate they are set to revise down the late payment interest rate which has been at 3.25% from 21st August 2018. This is in light of the quick succession of reductions in the Bank of England base rate from 0.75% down to 0.1%.
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