For updated information surrounding the Coronavirus please check the government website: https://www.gov.uk/coronavirus
Coronavirus: Self-employed people affected by coronavirus will receive a second payment
The Chancellor has announced self-employed people whose work has been affected by the Coronavirus will be able to apply for a second taxable grant in August. The grant will cover 70% of their average profits. Applicants will need to confirm their work has been affected by the virus, but they would not need to have taken the first grant to be eligible for the second.
Coronavirus furlough scheme to finish at end of October, says chancellor
The Chancellor has confirmed the furlough scheme will finish at the end of October. From August, employers must pay National Insurance and pension contributions, then 10% of pay from September, rising to 20% in October. From 1 July, workers will be allowed to return work part-time but with companies paying 100% of wages.
Coronavirus: Free school meal vouchers
Families eligible for government funded £15 school meal vouchers have not been able to use them online. Tesco and Sainsbury’s will only accept them in store.
Coronavirus: Beware of scam TV and file streaming fraud
People are being warned about emails with an official looking logo e.g. Sky or Netflix claiming that their account is to be suspended because payment details cannot be validated. The email will ask them to follow a link and enter bank details to update their account. The scammer now has someone’s bank details. Also, people should beware of scam offers of free membership to a streaming provider to the first so many to reply. The fraudsters are hoping the public will rush to sign up and not notice the link doesn’t take them to the official streaming site. The scammer now has personal data. Also be vigilant to fraud emails informing you that your TV licence has been suspended. Always go to the company’s official site and log into your account from there, not via a link in an email.
Coronavirus: Insurers in virus claims test case named
The Financial Conduct Authority (FCA) is taking insurance companies in a test case to court in July to provide guidance to policy holders about whether their business interruption insurance policy covers losses incurred during the current pandemic.
FCA investigates affordability checks by Amigo Loans
The Financial Conduct Authority (FCA) has launched an investigation into the way Amigo assesses whether customers can afford to repay their loans and if the checks were carried out in line with lending rules. Amigo lends money to people with a poor credit history, but has been criticised for asking borrowers to sign up family or friends as guarantors.
Facebook to launch online shopping service
Facebook is to launch an online shopping service called Facebook Shops to rival competition with Amazon and ebay. Sellers will be able to create digital storefronts on Facebook or Instagram. Users will be able to browse products and message businesses to arrange purchases. They will be able to buy some products directly via an online checkout feature.