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Welcome to Avraam Associates

Avraam Associates are a firm of accountants who pride themselves on giving your business the time and effort it deserves. Blending traditional values with a modern approach, we pride ourselves on the ability to provide your business with personal, forward looking advice, based on your unique requirements. At Avraam Associates, our aim is to help you focus on important business decisions, by simplifying compliance and proactively interacting with you on day to day finance matters.


The UK’s small and medium-sized enterprises (SMEs) now face unprecedented challenges.

At Avraam Associates we are committed to providing our clients with guidance and support throughout this period of extreme uncertainty.

The UK Government’s response to coronavirus (COVID-19), announced in the Chancellor’s Budget Speech and subsequent briefings, includes measures to protect businesses from the economic impact.

These include a package of measures to support businesses including:

• a Coronavirus Job Retention Scheme
• deferring VAT and Income Tax payments
• a Statutory Sick Pay relief package for SMEs
• a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
• small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
• grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
• the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
• a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
• the HMRC Time To Pay Scheme

For the latest updates and guidelines from the Government, please visit the GOV.UK website. Here are some useful links:

COVID-19: guidance for employees, employers and businesses

Government support for businesses

For the latest information on the measures announced by the Government to support businesses please refer to the following websites which are updated regularly:

(Updated on 24 March 2020)

Coronavirus Job Retention Scheme

(Updated on 13 May 2020)

The government has extended the Coronavirus Job Retention Scheme to 31 October 2020 and announced the introduction of part time furlough flexibility from 1 July 2020.

Rumours of the government winding down its contribution to the scheme from 80% of workers’ current salaries (up to £2,500) down to 60% proved unfounded.

Instead, the government will wind down its contribution through a ‘return to work transition’.

From 1 July 2020 onwards, furloughed workers will be able to return to work part-time with employers asked to pay a percentage towards the salaries of their furloughed staff.

The Chancellor also confirmed that part-time working will only be permitted for employers “currently using” the scheme.

More specific details around the implementation of the new phase of the scheme will be made available by the end of May.

Updated details can be found via the links below and includes specific guidance for directors and office holders:

Government support for employees and the self-employed

(Updated on 26 March 2020)

Self-Employment Income Support Scheme(SEISS)

HMRC Tax helpline to support businesses

HMRC has a set up a phone helpline to support businesses and self-employed people concerned about not being able to pay their tax due to coronavirus (COVID-19).

Up to 2,000 experienced call handlers are available to support businesses and individuals when needed. If you run a business or are self-employed and are concerned about paying your tax due to coronavirus, you can call the following helpline on 0800 0159 559.

For more information, please check the HMRC website here:

Government launches small business loan scheme up to a maximum of £50,000

(Updated 28 April 2020)

Small businesses will be eligible for new loans worth up to £50,000 backed by a 100 per cent government guarantee.

Businesses can apply for a minimum of £2,000 up to a maximum of £50,000, or 25% of business turnover, with the government paying the interest for the first 12 months.

No repayments will be due during the first 12 months.

They can apply from the existing network of accredited lenders using a two-page standard online form with no forward-looking business viability tests or eligibility criteria.

The scheme will open from 9am next Monday (4 May 2020), and according to the Chancellor, most loans will be paid within 24 hours of approval.

Please click on the link below for the Government press release on the scheme:

Coronavirus Business Interruption Loan Scheme (CBILS) – GOVERNMENT OVERHAUL ANNOUNCED

(Updated on 3 April 2020)

For loans over £250,000, personal guarantees will be limited to just 20% of any amount outstanding on the CBILS lending after any other recoveries from business assets.

Lenders were already prohibited from asking business owners to put their house on the line, but today’s changes will provide further reassurance regarding personal assets during this difficult time.

In the first instance, businesses should approach their own provider – ideally via the lender’s website. They may also consider approaching other lenders if they are unable to access the finance they need.

The government update on the scheme can be found via the link below:

The Loan Scheme, delivered by the British Business Bank, will enable businesses to apply for a loan of up to £5 million, with the Government covering up to 80% of any losses with no fees.

Businesses can access the first 12 months of that finance interest free, as Government will cover 12 months of interest payments.

Please see the link below for details of how to access the scheme:

ACAS – for more detailed advice on employer responsibilities and best practice:

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