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Most of the advice from Government is not definitive at the moment and Businesses may have to make decisions quickly.

 So our best advice to clients is that you have to take whatever measures that you feel are required to get you through as best you can.

 As long as you are fair and reasonable and you make sensible decisions that do not contradict rules and guidelines, we can help you argue why you took a decision now, at a later date.


 Advoco will continue to do our best to provide clients with as much up to date information as we can and we appreciate that this is a very challenging time.

 We do not have all of the answers, but we will do our best. We will give our best advice as practically and honestly as we can, in plain English.

 Please review our Website and Facebook pages for general updates. We will try to do our best with individual enquiries but please look at these resources for general information.

 We have outlined what we do know for sure at the moment, but as yet we do not have some of the detail.


 On 17 March the government announced 

  • £330 Billion of business loans     (repayable)
  • £20 Billion of aid    (not repayable)
  • More Grants and further Business rates relief for certain types of businesses
  • Mortgage holidays
  • The minimum income floor for Universal Credit for the self employed has been suspended.


 They said they will do whatever it takes and there will be more announcements in the coming days and they  are looking to develop new forms of employment support. This was a very positive message, but there is very little detail.


 In a separate announcement they have also delayed the new IR35 rules for a year. Whilst this is positive, most businesses have already prepared for the changes.


There is some general guidance from the Government

 Contact the Business Support Line – 03004563565



 Cashflow is going to be even more crucial than ever during this uncertain period. We recommend that our clients start by making an initial cashflow forecast for the next month.  It does not need to be sophisticated.

 Something simple and understandable is better than nothing or something too complex.  Make notes of any assumptions. Use the last months bank statement as a guide to the typical transactions and the timing of them.

 We recommend the following headings


Date                Description      Income            Expenditure                 £ - Running Balance


 If you can see a cashflow issue, look at ways to alleviate this in the short term by spreading payments and / or other income source but crucially not loans at this first stage 

  • Focus on your largest outgoings first, contact them and ask if they can help
  • Contact banks and ask for a short term loan repayment holiday, this will extend the term of the loan
  • Contact other finance providers and ask for a short term loan repayment holiday
  • Consider deferring tax payments
  • Contact the Local Authority about grants and hardship funds
  • Contact the Business Support Line – 03004563565
  • Contact your insurer and see if you have any insurance cover
  • If you are Self employed contact JobCentre  Plus about the assistance they may be able to receive




The situation is changing very quickly. Businesses need some time to make well informed decisions and these measures may help to give you some breathing space.

 The longer term solution may be a Business interruption loan.

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