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Impact on industry sectors and the economy

ICAEW insights and updates on how the coronavirus COVID-19 pandemic is impacting different business and industry sectors, along with data and analysis on the UK and global economy.

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Financial services

FCA and FOS clarify CBILS-BBLS SME rules

6 May 2020: the Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) have provided additional clarity for banks and SMEs regarding the two government loan schemes available during the coronavirus crisis.

2020 UK GAAP Accounts: Updated

This factsheet highlights new requirements effective 1 January 2020 and beyond, including practical guidance on amendments for rent concessions and IBOR reform. It has been updated for recent changes.

Tax news in brief

Highlights from the broader tax news week ending 30 June, which includes: pensions schemes and leases to connected tenants, an extended time limit for notifying an option to tax, a reminder to tell HMRC about an EU VAT import one stop shop registration, HM Treasury's launching of the business rates revaluation consultation and HMRC's latest briefing on collecting tax debts.

COVID-19: UK industry focus – Where next?

Series of insights from PwC’s Strategy& looking at how COVID-19 is affecting industries in the UK and how organisations can meet the challenge. Industries include power and utilities; travel and leisure; aviation; government; automotive; healthcare; pharmaceutical; banking; industrial manufacturing; real estate; asset and wealth management; retail; consumer goods; telecoms; insurance.

Working safely during coronavirus (COVID-19)

Guidance from GOV.UK on how to open workplaces in England safely while minimising the risk of spreading COVID-19. Includes guides for close contact services; construction and other outdoor work; factories, plants and warehouses; heritage locations; hotels and other guest accommodation, labs and research facilities; offices and contact centres; other people's homes; restaurants, pubs, bars and takeaways; shops and branches; vehicles; the visitor economy.