People whose income has been affected by Coronavirus and who want to access their Lifetime ISA funds early will no longer face an additional withdrawal charge thanks to a temporary rule change, John Glen, Economic Secretary to the Treasury, announced today.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Victoria Beckham reverses decision to furlough fashion label staff
Victoria Beckham has reversed a decision to furlough 30 staff at her fashion label and said that her team’s welfare “means everything to me” after the decision to apply for public money drew heavy criticism.
Greggs postpones reopening plan over fears too many customers will visit and breach social distancing rules
The high street bakery Greggs has postponed reopening 20 stores next week over fears of overcrowding.
Ryanair to axe up to 3,000 jobs as it warns recovery could take 2 years
Ryanair is preparing to cut up to 15 per cent of its 19,000 workforce as it becomes the latest airline to warn that the aviation industry faces a slow recovery from the upheaval wrought by coronavirus.
Iceland launches furious attack on HMRC over harassment
The founder of Iceland has launched a furious attack on HM Revenue and Customs for “harassing” his business over a scheme intended to allow staff to save money for Christmas.
Britons fear leaving homes and sending children to school even if lockdown is lifted
Many Britons would be uncomfortable leaving their homes even if the government lifted the strict coronavirus lockdown restrictions in a month’s time, according to new research.
Financial Conduct Authority asks courts to help settling insurance claims for firms hit by virus
The Financial Conduct Authority is asking the courts to clear up uncertainty over business interruption insurance policies after some companies have had coronavirus claims rejected.
BA announces plans to sack 1,100 pilots and may quit Gatwick
British Airways could leave Gatwick, the country’s second largest airport where it is the second biggest operator, as it emerged that it is to sack 1,100 of its pilots on statutory redundancy terms only.
Firms receiving coronavirus help told to cut executive pay
Companies that have received government support to help them through the coronavirus crisis should cut executive pay and consider clawing back bonuses from bosses.
Oasis and Warehouse to permanently close, with loss of all 1,800 jobs
Oasis and Warehouse are to permanently close all their stores and online shop with the loss of more than 1,800 jobs after administrators said they had been unable to secure a rescue deal for the fashion chains.
Watchdog threatens legal action on holiday and cancelled wedding refunds
Firms that fail to refund people for holidays and weddings cancelled because of the coronavirus outbreak could face legal action by the consumer watchdog.
Lloyds profits cut by 95% as bad loans bite
Lloyds has defended itself against claims that it has not done as much as its rivals to support businesses as it unveiled a 95 per cent slump in profits to £74 million.
Sainsbury’s boss warns queues set to stay in place for many months
Sainsbury’s says that customers are likely to see disruption to their shopping until September amid the coronavirus pandemic.
Intu could lose control of prime shopping centres as debt crisis mounts
Bondholders of debt secured against shopping centres owned by Intu Properties are drawing up plans that could lead to them taking control of the assets.
Dixons Carphone plans drive-through and contactless shops
Dixons Carphone is developing drive-through stores and zero-contact shops, as well as livestreaming its sales assistants, as it battles to continue trading during the Covid-19 pandemic.