COVID-19 Information Update

Covid-19 Information Update


As the Coronovirus outbreak gains momentum here in the UK, I wanted to take a moment to outline the approach we are adopting to ensure we are able to continue to provide a duty of service to you and highlight some key changes that may help you and your business in these difficult times.

On a more personal level, we recognise how these uncertain times can have an incredible impact on you and your family. I cannot say this enough: We are here for you. If you’re in need of assistance, reach out to us and if we are able to help then we will try our utmost best.

As part of a wide package of financial measures designed to support the UK economy through this turbulent period, Chancellor Rishi Sunak has unveiled a £350bn support package on Tuesday night.

Here are some key points:

IR35 reforms in the private sector delayed

In an unexpected U-turn, the government has announced that its planned reforms to IR35 legislation will be delayed for a year. The reforms, which will affect contractors who work in the private sector, were due to be implemented on 6th April this year but will now come into effect in April 2021. The delay should come as welcome news to contractors, freelancers and consultants.

We have attached a short video explaining online services that we offer at competitive prices:


Umbrella Services if you fall within IR35

At SK Accountants we will employ you under an overarching Contractor of Employment and will be responsible for raising invoices for the work that you do whilst on assignment, this means that you will not have the worry about setting up and running a company.  This also allows you as a contractor to have a single continuous employment with a single tax code whilst you move freely between contracts and agencies.  You will have access to our 24/7 online portal to manage your timesheets and expenses.

Small business grants

Clients with smaller businesses that operate from properties with a rateable value of £15,000 or less (making them eligible for small business rate relief) will be entitled to a grant of up to £10,000 each. This is an increase from the £3,000 grant announced in last week’s Budget. The grant will also be available to businesses that qualify for rural rate relief. Businesses do not need to apply for these grants; their local authorities will contact them directly.

Retail, hospitality and leisure industry business rates

Clients in the retail, hospitality and leisure industries that pay business rates will not have to pay these rates in the 2020/21 tax year and will potentially be eligible for a £25,000 grant. It’s not yet clear how clients will be able to access this grant but we’ll provide information as soon as it becomes available.

Coronavirus Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme, announced last week in the Budget, has now been extended to offer loans of up to £5 million, with no interest due for the first six months. At the moment, we aren’t privy to a huge amount of information about what the scheme will entail. However, the government’s website currently refers to it as a scheme to “support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance”. The temporary Coronavirus Business Interruption Loan Scheme will be delivered by the state-owned British Business Bank and according to the bank’s website, the loans should be available from 23rd March. 

Support for the self-employed

Sadly, no specific support has been announced for the self-employed, who cannot access the Statutory Sick Pay reclaim announced in the Budget. We’re monitoring developments closely here at SK Accountants and, as always, we’ll let you know if the situation changes.

Please use the link below for all updates by the government:


We are currently unable to advise if HMRC will change any deadline dates but we will inform you as soon as these are announced.  With regards to our opening hours, we are currently intending to open as normal but this may change depending on guidance from the Government.  Finally, on behalf the SK Accountants, all the best to you, your teams and families.

Call 0161 720 7057