JUNE 2020

Our look at some pressing issues facing our clients and those in Lockdown.

JUNE 2020

Lockdown June 2020:
How the Pharmaceutical Industry and the Government are Preparing the Battleground Against COVID-19.
Read more

We hope you find this useful. Please get in touch with specific queries as ever

Timothy James & Partners Research on the Current Financial Support from the UK Government

MAY 2020

Coronavirus Job Retention Scheme

Statutory sick pay relief package for SMEs

A 12-month business rates holiday for ALL retail, hospitality and leisure businesses in England for 2020/21

A grant of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000

A small business grant of £10,000 for all business in receipt of small business rate relief or rural rate relief

The Coronavirus Business Interruption Loan Scheme

  • The Scheme will support loans of up to £5 million.
  • The loan will be interest free for the first 12 months, as the government will cover the first 12 months of interest payments.
  • Finance terms are from three months up to ten years for term loans and asset finance and up to three years for revolving facilities and invoice finance.
  • The government will provide lenders with a guarantee of 80% on each loan (subject to a per-lender cap on claims)
  • The scheme will be available from early in the week commencing 23rd March
  • The full rules of the Scheme and list of accredited lenders is available on the British Business Bank website. All the major banks will offer the Scheme once it has launched. There are 40 accredited providers in all.
  • The Government says you should talk to your bank or finance provider (not the British Business Bank) as soon as possible and discuss your business plan with them. This will help your finance provider to act quickly once the Scheme has launched. If you have an existing loan with monthly repayments, you may want to ask for a repayment holiday to help with cash flow.
  • The scheme will be available to all UK based businesses with turnover of no more than £45 million per year.
  • Support for larger companies is being offered under a new Covid-19 Corporate Financing Facility, where the Bank of England will buy short term debt.
  • BBS advises that the borrower always remains 100% liable for the debt. Here is a link to the BBS website with further details and conditions –
    Accredited lenders (updated regularly):


Income tax

Private Lending

  • A number of private lenders are also making funds available to small businesses impacted by COVID-19, including £2m from Lloyds Banking Group and £5 billion from NatWest

The HMRC Time To Pay Scheme to help with tax

  • The number for HMRC’s dedicated helpline is 0800 0159 559.
  • These arrangements will be agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.


  • The government and insurance industry confirmed on 17 March 2020 that advice to avoid pubs, theatres etc. IS SUFFICIENT to make a claim if businesses have cover for both pandemics and government-ordered closure.
  • Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy and contact their providers. Standard business interruption insurance policies which are dependent on damage to property will exclude pandemics.

Banking Arrangements

  • If you are in difficulties with your cash flow generally, then we strongly recommend that you speak with your bank manager as a matter of urgency in order to discuss additional facilities being made available and capital repayment holidays on existing loans.

Interest Rates

  • The base rates of interest are at an all-time low, of 0.1%.

Off-payroll working (IR35) changes delayed

  • Finally, in a speech to the House of Commons the Government announced that the extension of the Off-payroll working provisions to the private sector will not now be implemented from 6 April 2020. Instead the existing off-payroll working rules will remain in force until April 2020.

    The ICAEW Tax Faculty have reported that HMRC has said that Status Determination Statements (SDS) already issued will have no standing in law and will not be used as evidence in any enquiry dispute during the coming year.


  • Mortgage lenders to grant a 3-month payment holiday on request from borrowers. Includes Buy to Let.
  • Private tenants could not be evicted from their homes for at least three months if they are struggling to pay their rent.
  • At the end of this three-month period, the government expects landlords and tenants to work together to “establish an affordable repayment plan” which takes into account tenants’ individual circumstances.
  • If no access to SSP, all can apply immediately for Universal Credit. Minimum income floor removed.
  • Universal Credit allowance increases by £1,000 a year and the self-employed will get full Universal Credit at a rate equivalent to statutory sick pay.
  • There will be £1 billion of funds made available to cover 30% of house rental costs.
  • Employment and Support Allowance can be claimed from day one, rather than day 8.

Additional resources


MAY 2020

Our look at some pressing issues facing our clients and those in Lockdown.

APRIL 2020

Lockdown: What needs to happen to get business trading and spark investment markets into recovery? Read more

Download PDF Report


MARCH 2020

Ahead of the latest Government guidance on social distancing Timothy James & Partners took the decision to strengthen our response and put in place a number of further measures to ensure business continuity and the safe management of your investments.

Office Closure
Our office is now closed for the wellbeing of our staff and clients, to reduce the risk of exposure to the Coronavirus. We are, however, still very much open for business and are happy to conduct telephone meetings and reviews, conference or Skype calls instead of a face to face meeting, please speak to your adviser or their support team to facilitate this.

Remote Access
In response to the unique challenges Coronavirus or COVID-19 has introduced, Timothy James & Partners took the early decision to initiate a program to expand our remote working capabilities, extending this to all staff with the same functionality as if they were in the office. Our staff are all working remotely with calls diverted to their mobiles to ensure all requests are followed up.

The Executive Committee is in contact regularly to review developments (both externally and internally) and provide employees and clients with any necessary updates to policies in response to COVID-19.

Third Parties / Service Providers
Timothy James & Partners has been actively engaged with all critical third-party suppliers or service providers to understand their business continuity plans and how the outbreak of COVID-19 may require alternate planning or a change to standard protocols. The respective teams have requested regular updates, which are provided to Senior Management and we continue to monitor developments to minimise the risk of service disruption.

We remain committed to the safety of our clients and employees and are confident that the steps introduced will avoid any material disruption to our business. We will, however, continue to monitor developments and provide updates as the situation evolves.

Yours sincerely,

Tim Whiting
Founding Director



Timothy James & Partners Ltd are pleased to announce that with effect from 15th October 2018, we will be providing advice and services to the clients of Keith Bush and Associates following his retirement. Our two firms share the same culture and business ethic. Keith will no longer be authorised to give advice but will still be very much involved for a further period of eighteen months. He will be assisting in the smooth handover of his clients and providing any relevant background to ensure the clients receive the continuity of service at which Keith excelled.




I hope you’ve had a good summer and looking forward to an English autumn. I thought I would drop you a line to update you on some of the work we have been doing behind the scenes and that we are increasing the number of investment services we now consider and analyse on your behalf... Read more

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