New Financial Update from Government- Translation

Along with numerous other vulnerabilities within the industry that COVID-19 has allowed us all to see, it’s clear that the biggest concern that the majority of people have had is, understandably so, their finances.

With the recent (and not so subtle) implications by the Chancellor that there looks to be tax equalisation around the corner, it is important now more than ever to know what you are entitled to as a freelancer in this period so that you can make the decision, if you want to, to claim accordingly. As well as that, we strongly recommend that both now and in the future, you take full advantage of our expertise in cash-flow management and allow us to help with you with managing your finances, to place you a in more comfortable position should anything like this happen in the future.

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TBSP
New Financial Measure- 'Bounce Back' Loan

As you will have likely heard, the original COVID-19 Business Interruption Loan (BIL) was poorly received and met with huge criticism. It is clear that though the Government had good intentions with the BIL, due to a number of factors it led to only a small number of businesses being successful in their application, and for the few that were successful it took weeks in some cases for the loan cash to actually hit their bank accounts.

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TBSP
Film & TV Charity- Apply for Financial Grant

One of the organisations that we have been in talks with recently is the Film & TV Charity, and this email is to make you aware of a financial grant that is currently being offered by them, aimed at those who have, to date, fallen through the cracks of the Government’s current financial support measures.

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TBSP
UPDATE - SOLE TRADER or PARTNERSHIPS

You will by now have probably read that the Chancellor announced yesterday evening support for those of you who are self employed. Not all the detail has been published yet, and as we keep saying the devil is in the detail, but here is our understanding of what the government said and our action plan.

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Further Update

Getting straight to the point on this: some huge proposals made on Friday by the Chancellor, of which some may provide a big short term relief to many businesses with employees. At this time though, it is not so positive though for those that are self employed.

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