{"id":20086,"date":"2020-04-28T09:12:51","date_gmt":"2020-04-28T09:12:51","guid":{"rendered":"https:\/\/smh.group\/?p=20086"},"modified":"2023-02-15T13:49:38","modified_gmt":"2023-02-15T13:49:38","slug":"covid-19-measures-28-april-2020","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/covid-19-measures-28-april-2020\/","title":{"rendered":"Covid-19 measures &#8211; 28 April 2020"},"content":{"rendered":"\n<p>A<strong> new scheme<\/strong> was introduced by the chancellor last night that is expected to be implemented from the 4<sup>th<\/sup> of May.<br> \u00a0<br> <strong>Update on current schemes: <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The <strong>Furlough<\/strong> portal was opened on the 20<sup>th<\/sup> of April as promised, and despite the odd glitch and a few unnecessarily long winded processes, the system works well and firms can expected their claims after 6 working days of submission. \u00a0If you still require a furlough claim preparing please get in touch.<\/li><li>Most <strong>grants <\/strong>that were applied for have been received by now. If you have applied but not yet received it, or if you haven\u2019t yet applied but are eligible for the grant, please contact your local council.<\/li><li>Despite the <strong>CBILS <\/strong>scheme not being quite what is was made out to be, the government did relax the personal guarantees and the application process a little and the banks are now lending where suitable. If you need help applying for the loans please let us know.<\/li><\/ul>\n\n\n\n<p>\u00a0<br><strong>New scheme:<\/strong><br> \u00a0<br>In yesterday\u2019s government briefing, the chancellor announced a new <strong>government backed loan for small businesses<\/strong>. This appears to be a much quicker and easier scheme than the more onerous <strong>CBILS<\/strong> but time will tell if this is the case! The key information that we know so far, is:<br> \u00a0 <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Businesses are able to borrow between \u00a32,000 and \u00a350,000 (limited to 25% of the business turnover).<\/li><li>The government will guarantee 100% of the loans.<\/li><li>There will be no arrangement fees and no interest payments for the first 12 months.<\/li><li>Loan terms will be up to 6 years, with repayments starting after 1 year.<\/li><li>You must have been \u2018negatively affected\u2019 by coronavirus, and not have been experiencing difficulties prior (at 31 December 19).<\/li><li>You cannot access this scheme if you have already accessed CBILS funding, however you may be able to switch from the CBILS scheme to this one if suitable.<\/li><\/ul>\n\n\n\n<p>We are expecting more information in due course, but if you think this scheme may be suitable for you we would be happy to discuss in more detail and assist with any application.  Please contact us on <strong>0114 266 4432<\/strong> or <strong><span style=\"text-decoration: underline;\"><a href=\"mailto:info@smhca.co.uk\">info@smhca.co.uk<\/a><\/span><\/strong> should you need to speak to one of our <strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/chartered-accountants\/\">Accounting &#038; Business Advisory<\/a><\/span><\/strong>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new scheme was introduced by the chancellor last night that is expected to be implemented from the 4th of May.<\/p>\n","protected":false},"author":4,"featured_media":20087,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[3],"tags":[35,499,83,494,498,537,190,32,34],"class_list":["post-20086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smh-accounting-business-advisory","tag-business","tag-cbils","tag-chartered-accountants","tag-coronavirus","tag-covid19","tag-furlough","tag-government","tag-grants","tag-loans"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Covid-19 measures - 28 April 2020 - SMH Group<\/title>\n<meta name=\"description\" content=\"A new scheme was introduced by the chancellor last night that is expected to be implemented from the 4th of May.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Covid-19 measures - 28 April 2020 - SMH Group\" \/>\n<meta property=\"og:description\" content=\"A new scheme was introduced by the chancellor last night that is expected to be implemented from the 4th of May.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/covid-19-measures-28-april-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"SMH Group\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-28T09:12:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-15T13:49:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2020\/04\/Coronavirus-28-04-20.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Brendan Hall\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brendan Hall\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/covid-19-measures-28-april-2020\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/covid-19-measures-28-april-2020\/\"},\"author\":{\"name\":\"Brendan Hall\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e\"},\"headline\":\"Covid-19 measures &#8211; 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