{"id":7399,"date":"2020-05-21T11:00:04","date_gmt":"2020-05-21T10:00:04","guid":{"rendered":"https:\/\/www.sage.com\/en-gb\/blog\/?p=7399"},"modified":"2026-01-29T10:15:19","modified_gmt":"2026-01-29T10:15:19","slug":"coronavirus-financial-measures-businesses","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-measures-businesses\/","title":{"rendered":"Coronavirus: Financial measures unveiled to support UK businesses"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tCoronavirus: Financial measures unveiled to support UK businesses\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \">Published <time class=\"entry-date published\" datetime=\"2020-05-21T11:00:04+01:00\">21 May, 2020<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"Coronavirus: Financial measures unveiled to support UK businesses\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-measures-businesses\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-gb\/blog\/author\/staceymcintosh\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2018\/11\/Stacey-McIntosh-350-1.jpg\" class=\"entry-author__image\" alt=\"\" \/>\t\t\t\t<span class=\"entry-author__name\">Stacey McIntosh<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Editor&#8217;s note: This article was first published on 18 March 2020 and has been updated for relevance.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The government has unveiled a package of financial measures to support UK businesses in light of the coronavirus (COVID-19) outbreak. They have been announced via a series of statements from the chancellor, each of which has added new and extraordinary measures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this article, we highlight what was announced on and after the Spring Budget (which took place on 11 March 2020) and what it all means for your business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#loans-anchor-link\">Government-backed loans for businesses that need access to cash<\/a>&nbsp;<strong>[updated]<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#payments-anchor-link\">Payments for the self-employed<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#salary-anchor-link\">Salary payments for workers in businesses affected by coronavirus<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#sick-anchor-link\">Statutory Sick Pay for workers affected by coronavirus<\/a>&nbsp;<strong>[updated]<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#vat-anchor-link\">Deferred VAT and income tax<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#extra-anchor-link\">Extra time to file accounts to Companies House<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#leisure-anchor-link\">Support for hospitality, retail and leisure businesses<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#cash-anchor-link\">Cash grants for small businesses<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#nursery-anchor-link\">Nursery rates relief<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#gender-anchor-link\">Gender pay gap reporting suspended for 2019\/20<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"loans-anchor-link\">Government-backed loans for businesses that need access to cash<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">For businesses hit with cash flow problems because of coronavirus, the government is providing help in a number of ways.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Coronavirus Business Interruption Loan Scheme<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#business-anchor-link\">Coronavirus Business Interruption Loan Scheme<\/a> is aimed at small and medium-sized businesses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This means the government will guarantee 80% of a loan from approved providers that are signed-up with the British Business Bank. Loans can be up to \u00a35m in value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, no interest is due for the first six months of the loan\u2019s life.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If your usual lender is on the approved list then you should be able to go to them and apply for a loan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The intention is to allow lenders to keep lending even if a business might look relatively unattractive because of cash flow problems. Indeed, the purpose of the loans is to get businesses through cash flow troubles.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Loans are limited to UK-based businesses and the turnover of the business must be no more than \u00a345m.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Coronavirus Large Business Interruption Loan Scheme<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Then, there is the <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#large-anchor-link\">Coronavirus Large Business Interruption Loan Scheme<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Large businesses that have an annual turnover that exceeds \u00a345m have business activity based in the UK, and are struggling with cash flow due to revenues being deferred or lost due to coronavirus are eligible.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Eligible large businesses can be offered loans by a number of approved lenders (up to \u00a325m for companies with an annual turnover between \u00a345m and \u00a3250m; those whose turnover exceeds \u00a3250m each year can borrow up to \u00a350m), which are backed by an 80% guarantee from the government.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, from 26 May 2020, the government will bring in new amends to the scheme. From that point, eligible businesses will be able to <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#large-anchor-link\">borrow up to 20% of their turnover<\/a>, with a cap of \u00a3200m.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A number of businesses aren&#8217;t eligible for this scheme:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Banks and building societies<\/li>\n\n\n\n<li>Insurers and reinsurers (but not insurance brokers)<\/li>\n\n\n\n<li>Public sector organisations (including primary and secondary schools)<\/li>\n\n\n\n<li>Employer, professional, religious and political membership organisations<\/li>\n\n\n\n<li>Trade unions.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Covid Corporate Financing Facility<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Covid Corporate Financing Facility is aimed at large businesses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To support liquidity within large businesses, the chancellor announced the new lending facility with the Bank of England, which will provide \u201clow cost, easily acceptable paper\u201d. This means that larger businesses can sell their debts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Bounce Back Loan Scheme<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#bounce-anchor-link\">Bounce Back Loan Scheme<\/a> is open to small and medium-sized businesses based in the UK that have been negatively impacted by coronavirus, and were not an \u2018undertaking in difficulty\u2019 on 31 December 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Loans between \u00a32,000 and \u00a350,000 are available to SMEs as part of the scheme, with businesses allowed to apply for a loan for 25% of their turnover, up to the maximum of \u00a350,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The loans are 100% guaranteed by the government, and there\u2019s no fees or interest to pay for the first 12 months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One condition to be aware of: if your business is getting funding from the Coronavirus Business Interruption Loan Scheme, you can\u2019t access the Bounce Back Loan Scheme.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, if you\u2019ve received a loan up to \u00a350,000 via the Business Interruption Loan Scheme, you can transfer it to the <a href=\"https:\/\/www.british-business-bank.co.uk\/ourpartners\/coronavirus-business-interruption-loan-schemes\/bounce-back-loans\/for-businesses-and-advisors\/\">Bounce Back Loan Scheme<\/a> \u2013 but you\u2019ve got until 4 November 2020 to do so.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Future Fund<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">And there is the <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#future-anchor-link\">Future Fund<\/a>, a \u00a3500m loan scheme aimed at high-growth businesses. It was created to help eligible businesses access funds needed to keep functioning.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The businesses must be unlisted UK registered companies that have raised at least \u00a3250,000 in equity investment from third-party investors within the past five years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The fund will run until the end of September 2020. The government \u2013 which is committing \u00a3250m to it (the remainder will be matched by private investors) \u2013 and the British Business Bank are partnering to deliver the scheme.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If your business is struggling, getting funding support from one of these schemes could provide your company with the lifeline it requires to help you stay on top of your cash flow.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s worth remembering, though, that if you take out a loan, it will have to be paid back in the future.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Coronavirus Business Interruption Loan Scheme, Covid Corporate Financing Facility, Coronavirus Large Business Interruption Loan Scheme, the Bounce Back Loan Scheme and the Future Fund are available now.<\/p>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Webinar: Coronavirus business financial support<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Join our free webinar to understand what UK government financial help is available and how to access it.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/register.gotowebinar.com\/rt\/2830875610434660365\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-7461\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Find out more<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1213\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2020\/04\/ZA_AutoTrader_DGP_7985.34008-1213x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2020\/04\/ZA_AutoTrader_DGP_7985.34008-1213x810.jpg 1213w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"payments-anchor-link\">Payments for the self-employed<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Those who are self-employed or a member of a partnership can apply for a grant of up to \u00a37,500 covering three months from March 2020, via the <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-measures-self-employed\/\">Self-Employment Income Support Scheme<\/a> (SEISS).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is similar but not identical to the scheme for full-time employees. As with other coronavirus support measures, the chancellor says SEISS may be extended beyond three months depending on how the situation develops.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are numerous conditions <a href=\"https:\/\/www.gov.uk\/guidance\/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme\">applied to SEISS<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The first is that you need to have taxable profits (as detailed on your <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/file-a-tax-return-online\/\">Self Assessment tax return<\/a>) of less than \u00a350,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The government will work out a basic average of your taxable profits since the 2016\/17 tax year until now in order to determine eligibility (or fewer years if your business is new). In addition, 50% or more of your income has to come from self-employment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also, you need to be actively self-employed or a member of a partnership right now (or would have been if not for the coronavirus), and intend to continue to be so into the 2020\/21 tax year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In other words, you can\u2019t claim the grant if you did some self-employed work a few months ago but are no longer operating as a going concern.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You also needed to have submitted your Self Assessment tax return for the 2018\/19 tax year before 23 April 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Those who may be eligible are being <a href=\"https:\/\/www.gov.uk\/government\/news\/self-employed-invited-to-get-ready-to-make-their-claims-for-coronavirus-covid-19-support\">contacted by HMRC<\/a>. You can also use <a href=\"https:\/\/www.tax.service.gov.uk\/self-employment-support\/enter-unique-taxpayer-reference\">HMRC&#8217;s online tool<\/a> to see if you&#8217;re eligible for the SEISS grant.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You must apply for SEISS, even following HMRC\u2019s notification, because it won\u2019t be automatically paid to you.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">How much you get will depend on the aforementioned average of your taxable profits as declared via Self Assessment. The \u00a32,500 mentioned in media reporting of SEISS is the maximum you can claim, and many individuals may end up claiming less.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, SEISS is the lifeline the self-employed and members of partnerships have been waiting for. The scheme will be <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#self-anchor-link\">up and running from 13 May 2020<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The grant is only available if your business has suffered because of the coronavirus outbreak.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"salary-anchor-link\">Salary payments for workers in businesses affected by coronavirus<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Independently of <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/statutory-sick-pay-guide\/\">Statutory Sick Pay<\/a> (SSP) provisions for staff affected by coronavirus, which are detailed below, the government has created the <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/\">Coronavirus Job Retention Scheme<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It means that if your business has to give staff a leave of absence because of <a href=\"https:\/\/www.sage.com\/en-gb\/coronavirus\/\">coronavirus<\/a> \u2013 known as furloughing \u2013 then the government will reimburse up to 80% of their wage costs for the period, up to a cap of \u00a32,500 per month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The scheme is <a href=\"https:\/\/www.bbc.co.uk\/news\/business-52634759\">available until October 2020<\/a> but possibly longer depending on how the coronavirus outbreak develops.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The intention is that you won\u2019t have to lay-off staff because of the virus.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is not classed as a benefit for the employee. You will still have to pay the employee\u2019s salary, as you would ordinarily. You will reclaim that salary from the government, according to the caps mentioned earlier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019ll need to designate the employee as a furloughed worker, which will be subject to existing employment law, before you will be eligible to claim the benefit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">HMRC&#8217;s online portal, which you need to use to <a href=\"https:\/\/www.gov.uk\/guidance\/claim-for-wages-through-the-coronavirus-job-retention-scheme\">make a claim<\/a>, opened on 20 April 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The eligibility cut off point for the scheme <a href=\"https:\/\/www.gov.uk\/government\/news\/furlough-scheme-cut-off-date-extended-to-19-march\">has been extended<\/a>. It was originally 28 February 2020 but has been moved to 19 March 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And you should also notify the employee. The employee shouldn&#8217;t be working for you during this furloughed period. Effectively, they must be sent home.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are also loans and grants for certain businesses (see below for details) if you need further support to manage your cash flow.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Of all the chancellor\u2019s measures in response to the coronavirus outbreak, this is the most extraordinary \u2013 and also the one that businesses will most warmly welcome.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s good for both businesses and their employees. It allows businesses to enter a hibernation period if they find themselves with no other realistic choice, rather than simply go bust when the cash runs out through payroll demands.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Alternatively, some businesses might simply reduce their capacity by furloughing most but not all workers, in order to maintain a skeleton staff provided social distancing allows such a thing.<\/p>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Coronavirus: Government funding support tool<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Use this simple tool to help you understand which government schemes your business is likely to be eligible for and guidance on accessing them.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"http:\/\/desktophelp.sage.co.uk\/coronavirus-funding\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-7448\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Find out more<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1215\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2020\/04\/Thinscale_28844-1215x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2020\/04\/Thinscale_28844-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sick-anchor-link\">Statutory Sick Pay for workers affected by coronavirus<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">During the coronavirus outbreak, the rules for Statutory Sick Pay (SSP) are different, as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>SSP applies from day one of sickness for employees due to coronavirus, rather than day four. Self-isolation is covered too.<\/li>\n\n\n\n<li>The government will cover up to two weeks of SSP for each eligible employee if they have an actual infection of the virus, or are self-isolating because of suspicion they are infected, or they are caring for those within the same household who display coronavirus symptoms and they are therefore self-isolating.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">As with the Coronavirus Job Retention Scheme, this operates as a rebate \u2013 employers will pay the SSP and then <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#sick-anchor-link\">reclaim it from the government<\/a>. HMRC&#8217;s new online service for making claims <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#sick-anchor-link\">goes live from 26 May 2020<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SSP rule changes only apply to small and medium-sized UK businesses with fewer than 250 employees.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You should keep records of staff absences because of coronavirus but employees will not need to provide a GP fit note (formerly known as a sick note) for the employer to claim the SSP rebate. However, employees can claim an alternative to the fit note by calling NHS 111.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Having the financial strain of paying SSP removed will be good for your business but it will also mean employees are less likely to carry on working if they realise they might be ill, thereby protecting your workforce and indeed the rest of society from virus transmission.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Having to pay the SSP money upfront could create cash flow issues, but the loans and grant systems outlined further down in this article are designed to help.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"vat-anchor-link\">Deferred VAT and income tax<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">VAT-registered businesses affected by coronavirus can defer VAT payments for three months until January 2021. The VAT payment date must fall between 20 March 2020 and 30 June 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, those who are self-employed and who make income tax payments via Self Assessment in July 2020 now have until January 2021 to make that payment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The government says: \u201cThis is an automatic offer with no applications required.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">VAT refunds and reclaims continue as normal, and will be repaid as usual by the government.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for you or your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">As with the other measures here, the goal is to take the strain off cash flow commitments of businesses and individuals at a difficult time for them. The VAT or income tax will still have to paid eventually, of course, but at least there won\u2019t be any penalty or interest applied.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s possible the chancellor may extend this VAT and income tax deferment period should the coronavirus outbreak continue. But this is not guaranteed and you shouldn\u2019t plan for such an eventuality.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"extra-anchor-link\">Extra time to file accounts to Companies House<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Companies House has released details of what businesses can do if they <a href=\"https:\/\/www.gov.uk\/guidance\/apply-for-more-time-to-file-your-companys-accounts\">can\u2019t file their accounts in time<\/a> due to coronavirus.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If your business is impacted, you can make an application to Companies House to request an \u201cautomatic and immediate\u201d three-month extension to your filing deadline.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To apply, you have to <a href=\"https:\/\/beta.companieshouse.gov.uk\/extensions\">fill in an online application form<\/a> on the Gov.uk website. You\u2019ll need the following details:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Company number<\/li>\n\n\n\n<li>Email address<\/li>\n\n\n\n<li>Details about your extension reasons<\/li>\n\n\n\n<li>Documents that support your application (this is optional)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re concerned that you won\u2019t meet your deadline to file your accounts because of coronavirus, it pays to apply for an extension.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Companies House is clear in saying if you fail to file your accounts on time and haven\u2019t requested an extension, it will impose an automatic penalty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s also worth noting that if you\u2019ve already extended your accounts deadline or reduced your accounting reference period, your business may not be eligible for further extra filing time.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"leisure-anchor-link\">Support for hospitality, retail and leisure businesses<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses in the hospitality, retail and leisure sector continue to feel the sharp impact of the coronavirus outbreak because many have been ordered to close by the prime minister \u2013 or are closing voluntarily.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The chancellor has unveiled measures to help these businesses in England that have fixed costs and cash flow challenges.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The first measure for hospitality, retail and leisure businesses in England is a year-long rates holiday for the 2020\/21 tax year, where no rates will be due.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While this was initially limited to certain kinds of hospitality, retail and leisure sector businesses, it has since been expanded to apply to all that have a rateable value of less than \u00a351,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The government is also providing grants for hospitality, retail and leisure businesses in England. For those that have a rateable value of between \u00a315,001 and \u00a351,000, the grant will be \u00a325,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, those businesses with a rateable value of less than \u00a315k will qualify for small business grant funding, which is discussed below.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There\u2019s no need to pay the grant back.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses should get the grants automatically from their local authority, so there\u2019s not even any need to apply.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, you might need to get in touch with the authority if it doesn\u2019t have your bank details on record. If yours is a smaller business that already doesn\u2019t pay rates, then this might be the case.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s worth noting that&nbsp;<a href=\"https:\/\/www.gov.scot\/news\/gbp-320-million-package-of-support-for-businesses\/\">Scotland<\/a>, <a href=\"https:\/\/businesswales.gov.wales\/coronavirus-advice\">Wales<\/a> and <a href=\"https:\/\/www.derryjournal.com\/business\/covid-19-ps100m-emergency-rates-package-northern-ireland-businesses-2482472\">Northern Ireland<\/a>&nbsp;have taken a different approach.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This rate relief will likely be welcomed by your business and may help to ease some of the pressures that your company is currently facing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, the grants are designed to help cover the costs of unavoidable overheads, such as employees costs and rent \u2013 this support will be of use if your turnover is impacted.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cash-anchor-link\">Cash grants for small businesses<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The 700,000 smallest businesses in the UK will receive a cash grant of \u00a310,000. This was initially set at \u00a33,000 but was subsequently increased by the chancellor when the severity of the coronavirus outbreak became clear.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The requirements to receive the \u00a310,000 grant will depend on <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/coronavirus-financial-support-business\/#small-anchor-link\">where your business is located in the UK<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If the cash grants are applicable to your small business, it\u2019s worth taking advantage of them. If the coronavirus outbreak is slowing your business and your cash flow down, this will provide a welcome boost to your coffers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s worth noting that payments will be paid to and provided by local authorities in England in early April 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Grants are being <a href=\"https:\/\/www.gov.uk\/government\/news\/covid-19-guidance-information-for-ni-businesses-employers\">issued in Northern Ireland now<\/a>. Timings for Scotland and Wales will be announced in due course.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"nursery-anchor-link\">Nursery rates relief<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Another kind of business facing serious problems because of coronavirus are those in the child care sector. To this end, the chancellor has announced a <a href=\"https:\/\/www.gov.uk\/government\/publications\/business-rates-nursery-childcare-discount-2020-to-2021-coronavirus-response-local-authority-guidance\">business rates holiday for nurseries in England<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To be eligible, businesses need to be occupied by providers on Ofsted\u2019s Early Years Register, and wholly or mainly used for the provision of the Early Years Foundation Stage.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Nurseries don\u2019t need to do anything to get the relief \u2013 it will apply from the next council tax bill as of April 2020.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"gender-anchor-link\">Gender pay gap reporting suspended for 2019\/20<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The government has suspended the requirement for eligible businesses to report on their company\u2019s <a href=\"https:\/\/www.gov.uk\/government\/news\/employers-do-not-have-to-report-gender-pay-gaps\">gender pay gap<\/a> due to coronavirus.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That means it\u2019s not enforcing gender pay gap deadlines for the 2019\/20 reporting year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What this means for your business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">There\u2019s no expectation for your business to report your gender pay gap data, which means you\u2019ll have a reduction in the amount of admin that needs to be dealt with.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The government has revealed that more than 3,000 employers (26% of all that are expected to report) have submitted their data.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you still wish to submit your company&#8217;s gender pay gap data, your business can do so and the Government Equalities Office will provide any necessary support.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Final thoughts<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are some other measures announced by the government that businesses should pay heed to.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Time to pay\/dedicated coronavirus HMRC helpline<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In the Spring Budget 2020, the chancellor announced that HMRC would listen sympathetically to those businesses affected by coronavirus and the existing Time to Pay scheme that allows longer to pay tax bills could be used in such cases.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The dedicated HMRC coronavirus helpline for advice and support is 0800 0159 559. Opening hours are Monday to Friday 8am to 8pm, and Saturday 8am to 4pm.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Social distancing<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Employees should work from home, where possible; avoid large gatherings; and avoid non-essential use of public transport.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Business travel<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Foreign and Commonwealth Office (FCO) advises British people against all non-essential travel worldwide.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The government is putting measures in place to help businesses as they face up to the challenge of the coronavirus outbreak.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Take the time to explore which financial support options could help your business keep moving, so you can take the steps that will allow you to keep your cash flow in good stead.<\/p>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Coronavirus and your business<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>We\u2019ve gathered information and resources to help navigate this situation, including tools and webinars, to help you understand what financial support is available.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/coronavirus\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-7408\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Find out more<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1064\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2018\/04\/GettyImages-595348199_super-1064x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2018\/04\/GettyImages-595348199_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Join more than 500,000 UK readers and get the best business admin strategies and tactics, as well as actionable advice to help your company thrive, in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-b1a63862-3fa0-4a5e-bb67-c76b88bbc6b8\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe now<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1073797282-1-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1073797282-1-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this article<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/business-continuity\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tBusiness continuity\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/business-finances\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tBusiness finances\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/business-support\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tBusiness support\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/cash-flow\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tCash flow\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/government-funding\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tGovernment funding\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/hr-process\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tHR processes for small businesses\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/payroll\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tPayroll\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-0 post-32306 post type-post status-publish format-standard has-post-thumbnail hentry category-strategy-legal-operations category-technology-innovation tag-business-finances tag-business-performance tag-business-support tag-cloud tag-data-analytics tag-midsized-business tag-performance-management tag-productivity tag-reporting business_type-small-business business_type-medium-sized-business industry-financial-services industry-professional-services card-post--is-clickable\"\n>\n\t<div class=\"card-post__media-wrapper\">\n\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-5-header-1440x810.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-5-header-684x384.jpg 684w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-5-header-768x432.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-5-header-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-29T12:32:05+01:00\">29 September, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">9 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/blog\/is-your-finance-system-holding-back-business-growth\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tIs your finance system holding back business growth?\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/p>\n\n\t\t\n\t\t\t\t\t<p class=\"card-post__description\">\n\t\t\t\tLonger close cycles. More spreadsheet workarounds. Reporting that takes longer every quarter, not less. These are the signs a finance system has stopped supporting growth and started limiting it. \t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-32304 post type-post status-publish format-standard has-post-thumbnail hentry category-people-leadership category-strategy-legal-operations tag-business-costs tag-business-finances tag-business-performance tag-business-support tag-data-analytics tag-digital-transformation tag-midsized-business tag-reporting tag-workplace-technology business_type-medium-sized-business industry-financial-services industry-professional-services\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/blog\/from-scorekeeper-to-strategist-how-the-cfo-role-is-evolving\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-4-header-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-4-header-684x384.jpg 684w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-4-header-768x432.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-4-header-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-29T12:19:55+01:00\">29 September, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">5 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tFrom scorekeeper to strategist: How the CFO role is evolving\u00a0\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-2 post-32302 post type-post status-publish format-standard has-post-thumbnail hentry category-strategy-legal-operations category-technology-innovation category-trends-insights tag-business-performance tag-business-support tag-digital-transformation tag-international-trading tag-midsized-business tag-performance-management tag-productivity tag-reporting tag-workplace-technology business_type-medium-sized-business industry-financial-services industry-professional-services\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/blog\/group-financial-reporting-moving-beyond-the-basic-p-and-l\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-1-header-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-1-header-684x384.jpg 684w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-1-header-768x432.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-1-header-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-29T12:10:28+01:00\">29 September, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">6 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tGroup financial reporting: Moving beyond the basic P&amp;L\u00a0\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-3 post-32298 post type-post status-publish format-standard has-post-thumbnail hentry category-strategy-legal-operations category-technology-innovation tag-business-finances tag-business-performance tag-business-support tag-cloud tag-data-analytics tag-digital-transformation tag-finance tag-midsized-business tag-performance-management tag-reporting tag-workplace-technology business_type-medium-sized-business industry-financial-services industry-professional-services\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/blog\/group-consolidation-why-it-takes-so-long-and-how-to-fix-it\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-2-header-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-2-header-684x384.jpg 684w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-2-header-768x432.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-2-header-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-29T12:00:40+01:00\">29 September, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">6 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tGroup consolidation: Why it takes so long and how to fix it\u00a0\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-32289 post type-post status-publish format-standard has-post-thumbnail hentry category-strategy-legal-operations category-technology-innovation tag-business-finances tag-business-performance tag-create-business-plan tag-data-analytics tag-finance tag-financial-education tag-performance-management tag-productivity tag-reporting tag-workplace-technology business_type-medium-sized-business industry-financial-services industry-professional-services\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/blog\/how-to-build-a-cfo-dashboard-that-actually-drives-decisions\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-3-header-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-3-header-684x384.jpg 684w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-3-header-768x432.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2026\/09\/intacct-3-header-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-29T11:49:51+01:00\">29 September, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">7 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tHow to build a CFO dashboard that actually drives decisions\u00a0\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Learn about financial measures announced by the government in light of coronavirus and what they mean for your business.<\/p>\n","protected":false},"author":346,"featured_media":4813,"menu_order":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_is_cornerstone":"","_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_opengraph-image":"","_yoast_wpseo_opengraph-image-id":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":"","_yoast_wpseo_twitter-image":"","_yoast_wpseo_twitter-image-id":"","_yoast_wpseo_schema_page_type":"","_yoast_wpseo_schema_article_type":"","_sage_video":false,"_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_primary_category":"6","sage_membership_post_content_type":"article","sage_membership_post_featured_video_id":"","sage_membership_post_video_type":"trailer","sage_membership_post_featured_video_duration":"","post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"_pwl_sage_podcast_buzzsprout_src":"","footnotes":""},"categories":[6],"tags":[191,135,124,24,17,41,37],"business_type":[4,3,115],"lilypad":[],"context":[],"industry":[],"persona":[67,71,73,74],"imagine_tag":[220,242,98,165,96,109],"coauthors":[353],"class_list":["post-7399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters","tag-business-continuity","tag-business-finances","tag-business-support","tag-cash-flow","tag-government-funding","tag-hr-process","tag-payroll","business_type-small-business","business_type-medium-sized-business","business_type-accountants"],"sage_meta":{"region":"en-gb","author_name":"Stacey McIntosh","featured_image":"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2017\/07\/UK_Kingpin_SageLive_101215-261_All-Uses.jpg","imagine_tags":{"220":"Accountant accounting","242":"Banking","98":"Business continuity","165":"Medium business trade","96":"Medium businesses","109":"Small business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice UK","distributor_original_site_url":"https:\/\/www.sage.com\/en-gb\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts\/7399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/users\/346"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/comments?post=7399"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts\/7399\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media\/4813"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media?parent=7399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/categories?post=7399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/tags?post=7399"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/business_type?post=7399"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/lilypad?post=7399"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/context?post=7399"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/industry?post=7399"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/persona?post=7399"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/imagine_tag?post=7399"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/coauthors?post=7399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}