Corona Business Finance Update – 18th March 2020

by | Mar 18, 2020 | Corona Business Support | 0 comments

Protection for renters and the Pound

Most of the focus today seems to be surrounding school closures.

There’s a few nuggets to takeaway today though.

Legislation to help renters and prevent them from suffering no-fault evictions.

The Pound crashes to its lowest against the dollar since 1985.

IR35 has been postponed for 12 months.

Local Authorities to contact businesses directly if they are eligible for a cash grant.

We can unpack the rental legislation when it happens, so let’s stick to what we already know.

The Pound crashing to a low against the Dollar, this sounds dramatic but it’s not. Okay, so if you’ve got US suppliers then there’s an impact on how much you supplies will costs. If you’re supply chain is purely UK then there’s no issues. If you can sell to the US then potentially you can increase sales because the cost for them to purchase is technically cheaper.

IR35 being postponed will mean a lot of Sole Traders can breath a sigh of relief as many were panicking about its impact from April.

Local Authorities are out in charge of the grant process, I have a history with Local Govt so…. well we’ll see what happens but I’m not filled with confidence at the moment


Carl Ford

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