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The government has published further guidance on how the forthcoming Job Retention Bonus Scheme will operate. The scheme will enable eligible employers to claim £1,000 for each eligible employee in respect of whom they have previously made a valid claim under the Coronavirus Job Retention Scheme (CJRS) and who remains in continuous employment until at least 31 January 2021 following the closure of the CJRS on 31 October 2020. The policy paper indicates that the one-off bonus payment is intended to provide additional support to employers who keep on their furloughed employees in “meaningful employment” after the CJRS ends and
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The Competition and Markets Authority (CMA) launched a COVID-19 taskforce back in March 2020 to identify any commercial practices that adversely affect consumers and to consider appropriate responses to help businesses comply with the law and protect consumers' rights. One of the areas where the CMA received reports of unfair practices concerned the early years sector (nurseries and childcare providers). The main areas of concern related to payments and cancellations in the context of COVID-19 lockdown restrictions. This prompted the publication of a statement by the CMA on 30 April 2020, on how the law applies to consumer contracts, refunds
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Over the past few months, HMRC has unveiled a package of measures to accelerate the growth of the UK's customs intermediary sector. These announcements included £50 million of new funding to support businesses with recruitment, training and supplying IT equipment to handle customs declarations as the transition period comes to an end on 31 December 2020. The application process for the £50 million of additional funding opened on 29 July 2020. HMRC, which is running the scheme, is encouraging customs intermediaries (including customs brokers, freight forwarders and express parcel operators) and traders who make their own declarations to take advantage
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£20 million worth of new government grants have been released to help small and medium sized businesses across England recover from the effects of the Coronavirus pandemic. These grants will provide businesses between £1,000 and £5,000 to help them access new technology and other equipment as well as professional, legal, financial or other advice. Commenting on the announcement, the minister for regional growth and local government, Simon Clarke MP, said: 'We have always said that we would stand behind our businesses and communities as we rebuild following the Coronavirus pandemic. This new funding does exactly that.' The support will be fully
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There are businesses that have benefitted from the current COVID disruption. Particularly, those that can deliver goods and services online. There are far more that have not benefitted. Before COVID-19 reared its disruptive head businesses were exhorted to make profits. This was the way most firms created surplus cash-flow and value in their businesses. Since the initial, national lock-down – March 2020 – profitability has been the experience of the few rather than the many. Government grants, and in particular the furlough scheme, have enabled businesses to mothball activity and keep some semblance of financial credibility. But for a significant