Understanding and managing your credit rating – Mazars WEBINAR Recording

Are you concerned about how you can best manage your credit rating? As part of our focus on issues currently impacting businesses, we have been spending time providing support to corporates in relation to their credit rating and the benefits that could be achieved by proactively managing this.

For more information check out the recording of our recent webinar HERE


FCA Business Interruption Test Case – Supreme Court Appeal Response

The judgement in the Supreme Court which substantially ruled in favour of the FCA is good news for
many businesses that bought an unspecified disease extension.

Not every policy will include this extension, some will specifically Exclude ‘Infection Diseases’.
It is estimated that approx. 370,000 policies will be affected, covering 700 different policy wordings
underwritten by 60 Insurers.

The FCA have provided a link to their website in order to assist policyholders with any queries and
information on proving existence of Covid-19 within the radius:


The Supreme Court has directed Insurers to:

• Make immediate contact with any policyholders whose policy provides indemnity in line
with this ruling, and previously had their claim declined.
• Ensure that valid claims are paid without any unnecessary delay.
• For those policyholders who have not previously made a claim, the clock has restarted and
are advised to immediately make contact with their Insurance Broker, or Insurance

There are a number of Claims Management Companies (CMC) offering to deal with claims on behalf
of Policyholders.

If the policy has coverage, which is valid, in line with this Appeal Decision, there is no need to engage
a Third Party service.

A CMC will charge for their services in the form of either, an up-front fee, or, up to 40% charge of the
total claim payment!

For those Tenants who utilise the services of an Insurance Broker, I would urge you to speak to
them in the first instance. Your Insurance Broker is extremely experience in claims for precisely
this purpose, and will be able to guide and advise you through this process as part of the service
agreement you already have in place.

Some policyholders may believe that the ruling suggests all previously rejected BI claims will now be
paid. It’s important to clarify that this is not the case. The pressures on you as business owners, and
managers, must be enormous and some of the press statements may have encouraged you to
believe that the Supreme Court decision will in some way mean a reversal of all previous claims

Lisa Petherick ACII – Chartered Insurance Broker
Commercial Business Insurance – Science & Technology & Healthtec
07717 776514

Your Business Matters

Thank you for taking the time to read my newsletter.

About once a week I will pick various topics and add valuable advice
to help you and your business achieve excellence.

Enjoy the newsletter and look forward to catching up soon

PS – Each week, I will also try and share a success story or coaching
video from the ActionCOACH UK team – which showcases some of
the great results that are achieved, when working together with a
business coach.

Business Focus newsletter #7

Business Focus newsletter 2021 #6

Business Focus 2021 #1

Your Business Matters Christmas Issue

Your Business Matters Issue 30

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Your Business Matters Issue20




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This year, Financial Planning Week runs from the 5th to 11th October. Mazars have supported this national initiative, led by Chartered Institute for Securities and Investment (CISI) for eight years now offering individuals free one-hour consultations across the country.

These sessions are for anyone that would like to talk to an adviser about their personal finances, whether that’s about their retirement plans, savings and investments, optimising tax efficiency, or simply to get some peace of mind about their family’s financial security.

Due to the ongoing pandemic, these sessions will be run through Zoom and Teams virtually at a time and date suitable to you and your local Mazars advisor.

To book a free initial consultation, click here.

Financial Planning Week aims to raise awareness of the importance of financial planning and to help people nationwide organise their finances to achieve their future financial goals.

Watch out for daily financial planning videos and top tips on Mazars UK social channels throughout the week and please also follow and join the conversations online using the hashtag #FPWUK #AskMFP



The Chancellor Rishi Sunak has announced a range of measures

designed to fire up the economy, get people into work (or back to work) and out spending so that society starts to operate again.

To view our commentary which covers updates on employment topics, changes to Stamp Duty Land Tax and the VAT rate cut to stimulate UK hospitality and tourism, please click on the link below:

 Summer Statement 2020 – Commentary and analysis

We understand this is a challenging time and often the advice being issued does not answer all the questions you may have, so please do not hesitate to get in touch with your usual Mazars contact or send an email to contact@mazars.co.uk.


Coronavirus Job Retention Scheme update

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On 29 May, The UK Chancellor announced changes to how the CJRS arrangement will work for businesses who have furloughed employees. The CJRS arrangement has helped the UK mitigate the need for wide-scale redundancies with over 8m employees and 1m businesses using CJRS to keep employees in a job and keep their business going.

We set out below the main announcements:

What is not changing?

  • There are no changes to the scheme up until 31 July 2020 – therefore employers will receive the same support as they currently do – 80% of pay up to a maximum of £2,500 per month, plus associated pension and employer NIC costs.

What is changing – a timeline

  • From 1st July 2020 – “Flexible Furlough” will be introduced, which means a CJRS grant can be claimed for the days an employee is on furlough even if they return to work for certain days (e.g. on furlough for three days of the week and working two days). This introduction of the Flexible Furlough means that CJRS cannot be used for anyone who has not been furloughed before 10th June 2020.
  • From 1st August 2020 – whilst the employer will still be able to claim a CJRS wage grant of up to £2,500 (or 80% of pay if lower) per month, the additional CJRS pension and NIC support will stop.
  • From 1st September 2020 – The employer will be required to pick up 10% of the CJRS wage costs, with the Government’s contribution, therefore, reducing to 70% (maximum of £2,187.50)
  • From 1st October 2020 – The employer will be required to pick up 20% of the CJRS wage costs, with the Government’s contribution, therefore, reducing to 60% (maximum of £1,875).
  • The CJRS arrangement is due to come to an end completely on 31st October 2020.

Next steps and observations

The announcement demonstrates that the Government is keen to continue to support businesses and also help get individuals back to work as smoothly as possible.

Unlike other countries, who have boosted unemployment benefit (and seen significant increases in unemployment), the UK has focussed on reducing the need to make redundancies by utilising the CJRS scheme, which has kept unemployment lower.

The gradual changes announced by the Chancellor will help employers manage costs but it will be important that employers also plan ahead by reviewing workforce strategy, reward and how their business is going to operate in a new environment given the altered climate we now find ourselves in.

The announcement does, however, make an already complicated arrangement (anyone who has done the calculations for CJRS will have the experience to back this up!) more complex. Areas that will need careful attention include:

  • The need to assess the grant claim over different pay periods (weekly / monthly);
  • Being able to identify qualifying employees, particularly given the introduction of the Flexible Furlough;
  • Assessing the interaction with the reduction in Government contribution from 80% to 70% and then 60%.

It is expected that further detail will follow to help employers carefully navigate the changes and we will be supporting employers with their calculations, strategy and business assessments as we move out of the Covid-19 lockdown.

As part of these details, it is also hoped that further guidance will be provided on the interaction between PAYE/NIC deferrals and the CJRS arrangement – our recent article provided an update on this following discussions with HMRC.



Mazars LLP