Herald - Issue 397

29th October 2020 • The HERALD • Page 55 v SUPPORT YOUR LOCAL SPECIALISTS v LJM Bookkeeping Services I provide a range of accounting and business services to individuals, partnerships, charities and small businesses. I am licencensed through the Institute of Certified Bookkeepers for the following services.  Bookkeeping, Computerised Accounting Software, Final Year End Accounts, Payroll Management, CIS, VAT, Self Assessment Tax for Individuals and Construction Industry Scheme, Statutory Accounts for Small Businesses including Corporation Tax and related submissions, Holiday cover can also be provided for, hourly rates charged. Please contact Lynda McIntyre Email:   ljmbookkeepingservices@gmail.com Telephone:  07774 790543 ASK A PROFESSIONAL Business Interruption Insurance Thousands of businesses, including many in the New Forest, which have su ered nancial losses as a result of Coronavirus, could receive a pay out under their Business Interruption Cover a er the High Court handed down judgment in a test case brought by the Financial Conduct Authority (FCA). e City watchdog said the judgment marks a signi cant step in resolving uncertainty faced by policyholders and removes several roadblocks to successful claims. Explaining what the 162-page judgment means for policyholders, the FCA said the ruling did not find the defendant insurers liable across all 21 di erent types of policy wording in the representative sample considered by the court. e FCA said each policy needs to be considered against the judgment to consider what that means for that particular policy. However, the test case removes the need for policyholders to resolve a number of key issues individually with their insurers. Christopher Woolard, interimChief Executive at the FCA, said: “Coronavirus is causing substantial loss and distress to businesses and many are under immense financial strain to stay afloat. Our aim throughout this court action has been to get clarity for as wide a range of parties as possible, as quickly as possible. The judgment removes a large number of those roadblocks to successful claims, as well as clarifying those that may not be successful. “Insurers should reflect on the clarity provided here and, irrespective of any possible appeals, consider the steps they can take now to progress claims of the type that the judgment says should be paid. They should also communicate directly and quickly with policyholders who have made claims affected by the judgment to explain next steps. “If any parties do appeal the judgment, we would expect that to be done in as rapid a manner as possible in line with the agreement that we made with insurers at the start of this process. As we have recognised from the start of this case, thousands of small firms and potentially hundreds of thousands of jobs are relying on this.” e FCA and defendant insurers have agreed they will seek to have any appeal heard on an expedited basis, including exploring the possibility of any appeal being a ‘leapfrog’ appeal to the Supreme Court.