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The present lock-down has created a raft of employed persons described as furloughed.

One of the criteria that employers and employees are required to abide by to benefit from the Coronavirus Job Retention Scheme – that funds furloughed employees – is that employees cannot work whilst furloughed.

If your suppliers offer you goods or services on credit, this will have a beneficial impact on your cashflow. You will have had the benefit of using the goods or services supplied, and the funds to pay for them, initially, stay in your bank account.

This benefit can be multiplied if you are able to convert the supplies into cash sales as you could possibly have the funds to pay created by this revenue. In this way your purchases are self-financing.

The Lifetime ISA allows those aged between 18 and 40 to save for a new home or for their retirement. Under the scheme, the government provides a 25% bonus on yearly savings of up to £4,000 and once you start saving before you are 40, you can continue using the scheme until you turn 50. The money held in a Lifetime ISA can be used to purchase a first home worth up to £450,000 anywhere in the UK or withdrawn tax-free after your 60th birthday.