More Help Available For

 1.4 Million Firms Repaying Covid Loans

Small firms have been awarded more time to repay.

Opportunities to extend the loan by six to ten years.

Small firms are to get more time to repay state-backed Business bounce back​ loans taken out to help survive the coronavirus lockdown.

The changes include giving companies an option to extend the length of the loan from six to ten years under a “pay-as-you-grow” initiative.

Chancellor Rishi Sunak said the move was to give companies “breathing space to get back on their feet”.

He has been under pressure to act amid fears the continuing lockdown will spark a wave of company closures.

About £45bn has been borrowed by more than 1.4 million small firms under the Bounce Back Loan scheme, which offers cheap loans of up to £50,000.

Under the existing scheme, firms get interest-free loans for the first year. But many will start repaying the money in May, when economic recovery is still expected to be weak.

Under the new arrangements, announced late on Friday, businesses will have the options of:

Extending the length of the loan from six years to 10
Making interest-only payments for six months, with the option to use this up to three times throughout the loan
Pausing repayments entirely for up to six months
Mr Sunak said the plan allowed firms to “pay-as-your-grow”, offering flexible repayment options as the economy strengthens.

W​e are committed to providing an exceptional accountancy, tax and business consultancy services enabling our clients to achieve economies of scale.

 

We are dedicated to delivering a quality orientated , truly personal service and believe in working with, rather than for, our clients.

 

If you have any queries please don’t hesitate to contact us.

Latest news, case studies & events

Business Guidance for Covid-19
news
Budget for 2021

Furlough will continue until September, with no change of terms. After July, businesses will be asked for a 10% (70%…

Business Guidance for Covid-19
news
 Late payment surcharge extension

HMRC announced that the 5% late payment surcharge will not apply this year from 3 March and instead only arises…

Business Guidance for Covid-19
news
The Construction Industry Scheme (CIS) VAT reverse charge applies to construction services from 1 March 2021.

At a glance The CIS VAT domestic reverse charge measure will apply to supplies of construction work from 1 March…

Business Guidance for Covid-19
news
More help to 1.4m firms repaying Covid loans

Small firms are to get more time to repay state-backed Business bounce back​ loans taken out to help survive the coronavirus…

Business Guidance for Covid-19
news
Self-assessment deadline COVID19

To file their returns and face penalties including 2.6% interest on the money owed revealed by HMRC. More than 10.7…

Business Guidance for Covid-19
news
Coronavirus (COVID-19) Third National Lockdown

Although we do spend a vast amount of time each year chasing clients for information and signed pages of Tax…

What our clients say...

Usman is highly professional, efficient & highly knowledgeable accountant. His effective tax consultancy and accountancy services had made us save and plan tax. We highly recommend him.

Highly recommended, he listens to his clients! I am extremely grateful for Usman’s sound advice and support over the last six months. I see him regularly at our networking group and one day I expressed my frustration of my then accountant. Usman offered to help with no obligation or payment, so I gave him access and I quickly realised he was going to be a great asset so I switched accountants in June this year. Usman liaised with HMRC to do a review of my accounts dating back to 2017. He kept me informed at all stages and ultimately it allowed me to free up cash to reinvest in the business. I am extremely grateful and can safely say Usman always has the client’s interest at heart and makes them feel at ease even when deadlines are due. If you are frustrated with your current accountant or you’re not getting strategic financial and business advice, I would recommend Usman in a heartbeat knowing your business growth is his primary objective. Thank you Usman, I am forever grateful and will continue to highly recommend you and your team!

Sayeed is a highly professional accountant, his effective strategy & planning saved me from paying a hefty amount of tax which I would have paid should I had not taken his advice.

I would highly recommend F&C Accountants

Mike is a very knowledgeable and professional accountant. He has been my accountant for a long time.

We would highly recommend Mike and his team for their exceptional services

I highly recommend Mr Usman Nazir as an accountant. His in-depth knowledge and experience helped me immensely and with my tax return. He quickly took the stress out of the process for me and worked through my finances promptly making me savings that I would have not been able to achieve by myself. I am very thankful now to be on his books as I know now I have his experience and input for the next time making the process so much easier.

I have been a client of Usman’s for many years. He is very professional and reliable always responds quickly to my queries. I can highly recommend his accountancy services.

Yes this chap has helped me with my accounts and has done a fantastic job Well recommended Very pleased with the outcome