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Help for businesses who are affected by coronavirus

Our offices are now open, however this is on a strictly appointment only basis.  

We have put together a short video to showcase just some of the measures we have put in place to ensure the offices are safe and secure (see below). Please also ensure you have read the visitor producers PDF document which can be found by click the buttons below:

If you are dropping off books and records or other paperwork please contact a member of staff for the code to our lock box which is situated outside the main office door – you do not need to enter the building.

If you would prefer not to visit the office we are still offering virtual meetings which can be arranged via conference calls, Microsoft teams, Skype or FaceTime.

We thank our clients for their patience and cooperation in these new uncertain times

Please see our latest blogs and information for clients below:

Bounce Back Loans - a potential for personal liability?

Bounce back loans were Introduced by the Government on 4th May 2020 to help small businesses survive Covid.  To date over 745,000 business have obtained these loans totalling over £21 billion pounds with UK banks believing that 50% of businesses will have difficulties paying it back.

Directors Beware!

Directors who have used the loans to pay themselves, associates or liabilities, which are subject to a personal guarantee, should be aware and understand that If the company were to enter an insolvency process the liability would not necessarily fall away and that they could still be personally liable.

Take advice today with a suitable professional like turpin barker armstrong

We always offer the first meeting free of charge with no obligation, call us on 0208 662 7878 or  email

read article

Podcast 2 - Corporate Governance and Insolvency Bill

The second of a regular series of podcasts featuring guest speaker Paul Scully Conservative MP for Sutton and Cheam.  Our usual speakers Martin and Andrew along with Paul Scully will be covering the following topics:

  • Coronavirus Pandemic
  • UK Government response for businesses
  • The new corporate Governance and Insolvency Bill
  • The Economic outlook in the UK 
  • Longer term impact of Coronavirus 
  • Captain, or as he is now, Sir Tom Moore 

Please click to listen to the podcast.

read article

Podcast 1 - COVID-19 pandemic

Our first podcast is all about the current COVID-19 pandemic, our speakers Martin Armstrong and Andrew Bailey will be covering the following topics:

  • Coronavirus Pandemic
  • Homeworking
  • Economic outlook and the impact on business
  • UK government response to-date
  • Returning to work
  • Captain Tom Moore

Please click to listen to the podcast.

read article

What has been announced and where can business owners go to get help?

In the recent budget the Chancellor announced a package of measures to provide support for public services, individuals and businesses to ensure the impact of COVID-19 is minimised. There are regular updates to the provisions being made available for businesses however as we always suggest, seeking early advice is the best solution.  

The government has created a business support FAQ website  

Book a free telephone call with us, choose a date and time suitable for you

There are ways to protect your business from failing but you will need to take action fast.  With our help and some forward planning you could get your business back on track. Watch our video on how forward planning could help you :

CBILLS - Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme - CBILLS, supports SMEs with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to 6 years.

The government will also make a payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.

There are 50 accredited lenders able to offer the scheme, including all the major banks.

Visit the HMRC website for more information and updates here

CJRS - Job Retention Scheme 

The CJRS is a temporary scheme open to all UK employers for starting from 1 March 2020. It is designed to support employers whose operations have been severely affected by coronavirus (COVID-19).

Employers can claim for 80% of furloughed employees’ (employees on a leave of absence) usual monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage. 

The scheme is open to all UK employers that had created and started a PAYE payroll scheme on 28 February 2020.

Please visit the HMRC website for more information and updates here

Grants for retail, hospitality and leisure businesses 

The Retail and Hospitality Grant Scheme provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property.

Businesses in these sectors with a property that has a rateable value of up to £15,000 may be eligible for a grant of £10,000.

Businesses in these sectors with a property that has a rateable value of over £15,000 and less than £51,000 may be eligible for a grant of £25,000.

Please visit the HMRC website for more information and updates here

Deferring VAT and Self-Assessment Payments

The Government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months.
If you’re a UK VAT registered business and have a VAT payment due between 20 March 2020 and 30 June 2020, you have the option to:

- defer the payment until a later date
- pay the VAT due as normal

If you’re due to pay a self-assessment payment on account by 31 July 2020 but the impact of the coronavirus causes you difficulty in making payment by that date, then you may defer payment until January 2021.

Please visit the HMRC website for more information and updates here

Self-employment Income Support Scheme 

The Self-employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) who have lost income due to coronavirus.

This scheme will allow you to claim a taxable grant worth 80% of your trading profits covering 3 months and capped at £7,500. You can continue to work if you receive the grant and it does not need to be repaid but is subject to Income Tax and Self-Employed NI.

Claim a grant through the Self-employment Income Support Scheme, check if you are eligible to claim 

Please visit the HMRC website for more information and updates here

HMRC Time To Pay Scheme 

A dedicated helpline has been set up to help businesses and self-employed individuals in financial distress and with outstanding tax liabilities due to coronavirus, receive support with their tax affairs. Contact HMRC as soon as possible as through this, businesses may be able to agree a bespoke Time to Pay arrangement. 

If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 0159 559 

Please visit the HMRC website for more and updates here.

Cash grant of £10,000 to the smallest businesses 

There will be a £10,000 cash grant to our smallest businesses, delivered by Local Authorities. Small businesses that pay little or no business rates and are eligible for Small Business Rate Relief (SBBR) or Rural Rate Relief will be contacted by their local authority - they do not need to apply.

The funding will be provided to local authorities - click here to contact your local council about your business rates bill. 

Please visit the HMRC website for more information and updates here .

Business Rates Holiday  

The government has introduced a 12 month business rates holiday for all retail, hospitality, leisure and nursery businesses in England for the 2020 to 2021 tax year. You will are eligible if your property is:
- shop
- restaurant, café, bar or pub
- cinema or live music venue
- leisure property e.g. a sports club, a gym or a spa
- hospitality property e.g. hotel, guest house or self-catering accommodation

Your local council will apply the discount automatically

Refund of statutory sick pay

The Government will bring forward legislation to allow small-and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to Coronavirus. The repayment will cover up to 2 weeks and will pay if an employee cannot work due to having COVID-19 or is self isolating because someone they live with has symptoms or they are shielding.

Please check the HMRC website for more information here

Bank of England Lending Facility

Under the new Covid-19 Corporate Financing Facility, the Bank of England will buy short term debt from larger companies.
This will support your company if it has been affected by a short-term funding squeeze, and allow you to finance your short-term liabilities.
It will also support corporate finance markets overall and ease the supply of credit to all firms.

Availability of finance

The Bank of England has announced a reduction in interest rates with a view to increasing availability of credit for businesses. This was supplemented by the announcement from UK Finance, the trade body for UK banks.

Chief Executive of UK Finance, Stephen Jones, said:

“SMEs are the foundations of any successful economy and the banking and finance industry has the commitment and capacity to support viable businesses as they manage the impact of Covid-19. Alongside over £20 billion of funding, banks and finance providers are delivering targeted assistance to firms including repayment holidays, invoice finance extensions and fee-free emergency loans. This is in addition to the government’s welcome announcement of the Coronavirus Business Interruption Loan Scheme, which the industry will work with the government to deliver as quickly as possible.

“We urge all businesses to think about how their customers and suppliers could be affected by this global outbreak and to contact their finance providers as early as possible if they think they might have any additional financing requirements.”


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Getting advice

At turpin barker armstrong we are committed to supporting businesses during this time by undertaking free initial financial reviews for businesses with supplementary advice on options and strategy. We remain hopeful that many businesses can use the above resources and be preserved during this time in order to come out at the other end with a positive future ahead.
If you need advice please do not hesitate to get in touch on 020 8661 7878 or click here for our contact form.

Whilst every effort is made to keep this page as up to date a possible please visit the gov website here for daily updates


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